Is it permissible to give Sadaqah from your child benefit money or is the permission of the child required?

Q: Is it permissible to give Sadaqah from your child benefit money or is the permission of the child required?   الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Child benefit is a payment to and the property of the parent with parental responsibility.  Whilst it is intended and indeed expected that the parent will use the […]

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Can I pay Zakat on my mothers behalf even though I have a student loan to repay? Will it be considered a Sadaqah for me?

Q: Can I pay Zakat on my mothers behalf even though I have a student loan to repay? Will it be considered a Sadaqah? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: You can pay your mother’s Zakat on her behalf with her permission. This will be considered a Sadaqah for you.  Repayment of debt is a […]

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Is leveraged trading through a broker providing interest free brokerage account permissible?

Q: Is leveraged trading through a broker providing interest free brokerage account permissible? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Leveraged trading is not permissible as you are selling something you don’t have or does not even exist.    

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Is a Muslim better off earning no interest on money in the bank, or taking interest with intention of giving it to the poor?

Q: Is a Muslim better off earning no interest on money in the bank, or taking interest with intention of giving it to the poor?   الجواب حامدًا و مصليًا و منه الصدق و الصواب A: If it is possible to open an account with an Islamic bank or the Islamic window of a conventional bank and […]

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What is the ruling on Binary options trading?

Q: What is the ruing on Binary options trading?   الجواب حامدا ومصليا ومنه الصدق والصواب A:  Please see the following link: http://alqalam.org.uk/fatawa/investments-fatwa/is-it-permissible-to-purchase-stocks-using-call-and-put-options/ Binary options (all-or-nothing options) are simply another form of call or put options and are not sanctioned in Islam.    

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If one has to pay money to apply for a grant, would this be considered gambling?

Q: If one has to pay money to apply for a grant, would this be considered gambling?   الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: If the fee represents real costs for processing the application it is permissible to charge such fee.

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Is interest permissible if below the inflation rate?

Q: Is interest permissible if below the inflation rate?   الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب   A: The permissibility of interest at or below the rate of inflation is not supported by Al-Qalam and the majority of scholars.  Please see the following link: http://www.1stethical.com/wp-content/uploads/2010/07/StudentLoans.pdf Rather, any loan that attracts a conditional increment is not permitted. This […]

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Is it permissible to be an accountant?

Q: Is it permissible to be an accountant? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: It is permissible to be an accountant.  However, one should not involve oneself in anything that is prohibited in Sharī‘ah or is unlawful according to the laws of the state.  The hadith in which the scribe and witnesses of riba […]

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Are my earnings as a waiter serving Haram food, considered as Halal income?

Q: Are my earnings as a waiter serving Haram food, considered as Halal income? In light of the fatwa regarding permissibility of working in supermarkets that sell alcohol, is it permissible for me to work as a waiter, serving Haram food?   الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Whilst in principle the two scenarios are […]

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Is it permissible to open a current account with a bank which offers cashback on household bills?

Q: Is it permissible to open a current account with a bank which offers cashback on household bills?   الجواب خامدا ومصليا ومسلما ومنه الصدق والصواب A: This is a form of riba as the money deposited with a bank is a loan which brings the added benefit of a discount when using the account to pay […]

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Can I reduce my tax liabilities through lying, as Islamically we are entitled to whatever we earn?

Q: Can I reduce my tax liabilities through lying, as Islamically we are entitled to whatever we earn? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: If the revenues of the state are not sufficient to meet its expenditure needs a tax may be levied on the population provided it is proportionate to the need. […]

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Is trading “covered warrants” on the stock market permissible?

Q: Is trading “covered warrants” on the stock market permissible? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Warrants represent a right to purchase an asset similar to a call option and do not represent the underlying asset itself. Thus, they cannot be traded.

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