Q: What is the Islamic position on CFD Trading? I know Spread Betting is not allowed and is fundamentally different to CFD Trading as the former is a synthetic market that can be manipulated by the market makers. Additionally, with regards to ‘owning the stock’, an individual does not own the stock if bought via […]
Read more...Q&A Fatawa
Is it haram to pay off interest I unknowingly accumulated?
Q: I have accumulated an interest based debt of which I had no previous knowledge. Is it haram for me to pay off this interest or am I allowed to pay it off in order to have a ‘clean slate’ so to speak. الجواب حامدا ومصليا ومنه الصدق والصواب A: You should first attempt to […]
Read more...Is the NewShare scheme shariah compliant?
Q: My local council offers this scheme, called Newham NewShare . From the website it states: “An equity loan from us will make up the difference. The type of property you want to buy will decide what percentage of the cost you will have to fund from a mortgage and deposit. Equity loan fee When […]
Read more...Can I work for a company that does background verification of people?
Q: I Am working with a US based 3rd party verification company.My job profile is do a background verification for an applicant who has applied for a job in a company in the US. For example, if a job seeker wants to apply for a job in any company in the US, that company will send […]
Read more...Stipulating a condition in a bequest
Q: Can any condition be stipulated on inheritance from Wassiyah i.e. if a portion of a Home is given to a sister, can it be stated or requested that the sister then leaves the house (portion) to charity on her passing away, without it having any benefit to her potential inheritors? الجدواب حامدا ومصليا ومسلما […]
Read more...Is it permissible to take out a business loan or commercial loan?
Q: If looking to buy and take over a business, is it permissible to take out a business loan or commercial loan? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: It is not permissible to take out a conventional business loan when looking to buy and take over a business. A an interest bearing loan is […]
Read more...Is it permissible to give Zakāt al Maal to a charity if it operates abroad?
Q: Is it permissible to give zakāt al maal to a charity even if it operates in other countries? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: All things being equal one should distribute one’s zakat in the immediate locality of the zakātable wealth. Failure to do so is reprehensible but not prohibited. However, if […]
Read more...Is it permissible to write a conventional Will only?
Question: A family member wishes to make a conventional will only. They wish to gift their property to their wife and seven children, but, to be distributed in accordance with Shari’ah. Is this permissible? الجوابحامداومصلياومسلماومنهالصدقوالصواب A: There are set rules in Islam as to the rights and responsibilities that relate to the testators […]
Read more...Is it permissible to take out warranties on car repairs?
Q: Is it permissible to take out warranties on car repairs and parts, and to what extent? There is a scheme available, for £100 a year, where if any problems with the car, the policy covers both labour and parts. الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Such warranties are a form […]
Read more...Can I be held liable for the tax evasion of my employers?
Q: What is the ruling on tax in Islam; specifically, employment tax? If I have a job where I am given cash in hand, so that the company can avoid tax, would I also be liable for escaping tax? Alternatively if I am hired privately to do a one off job, for example to paint […]
Read more...Is a husband obliged to pay back the debt of his wife?
Q: Is my wife’s student loan something that I as the husband should be considering repaying back on her behalf, on the basis that she may not go back into employment? Does the loan become the husband’s responsibility? What if the husband is currently in the process of clearing his own personal debts? الجواب […]
Read more...Would one be held liable Islamically, it they were to die before paying off thier student loan?
Q: When one dies still owing some student loan, it is written off. What is the Islamic perspective on this? Will we still be held accountable for this in front of Allah? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: As the loan is written off the borrower will not be held accountable for not […]
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