Q: I work for a software distribution company, where the revenue is generated by selling the software to different types of companies like Oil & Gas, Media, Banks, Hospitals, Airlines, etc. We are not sure how their revenue is generated. I understand that banks run on the concept of riba and it is haram to […]
Read more...Category: Earning Halal Fatawa
Is it permissible to use a non-islamic business account that does not accrue interest?
Q: Is it permissible to use a non-islamic business account that does not accrue interest for a ltd company? الجواب حامدا ومصليا ومنه الصدق والصواب A: It is permitted to use an account of a conventional interest-based bank that does not bear interest for a limited company. Any deposits in the account are essentially a […]
Read more...Do I have to pay tax on tips received during employment?
Q: Does my husband have to pay tax separately for small tips received during his employment? (For example, an average of £5 cash in hand per day). If it is obligatory to pay tax on this and he refuses to do so what is my extent of my obligation towards getting him to do this? […]
Read more...What is the Islamic position on ‘Spread Betting’?
Q: What is the Islamic position on ‘Spread Betting’? Please find below two definitions given for this activity. From http://www.investopedia.com/terms/s/spreadbetting.asp Definition of ‘Spread Betting’ A type of speculation that involves taking a bet on the price movement of a security. A spread betting company quotes two prices, the bid and offer price (also called the spread), […]
Read more...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 […]
Read more...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 […]
Read more...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.
Read more...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 […]
Read more...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: https://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.
Read more...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 […]
Read more...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 […]
Read more...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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