Q: Is it permissible to purchase stocks using call and put options? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: Call and put options are essentially the sale of a right which one party gives to another in return for a fee. The option holder purchases the option to hedge against possible negative […]
Read more...Category: Earning Halal Fatawa
Is it permissible to under-declare income for a means-tested grant?
Q: I would like to know, if a student applies for a means tested grant, is the money halal, if the parent is required to declare their income in the application and they fail to declare it truthfully. Is the student blameworthy for applying despite not being able to persuade the parent to declare their […]
Read more...Are Muslims allowed to take interest money from the bank and use it to pay their own taxes or insurance premiums?
Q:Are Muslims allowed to take interest money from the bank and use it to pay their own taxes or insurance premiums? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: When needed, one should seek to open an account with an Islamic bank or the Islamic window of a conventional bank or a non-interest […]
Read more...Is it permissible to work as an energy trader?
Q: Is it permissible to work as an energy trader? The role would involve trading futures contracts. الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Trading in futures contracts does not comply with Shari‘ah requirements and so any remuneration earned for performing such activity is not halal. Essentially, a sale contract must be contracted at […]
Read more...Is my income as a para-planner halal?
Q: Is my income as a para-planner ḥalāl, since I will be doing the research but not the advising on the different products (life insurance, mortgages, fixed interest bonds, mutual funds with non sharīʿah compliant companies etc)? I am currently training as a para-planner at a small independent financial advisory firm and I wish to […]
Read more...My employer wants me to exaggerate the time spent on tasks on a timesheet for a client
Q: My employer wants me to exagerate the time spent on tasks on a timesheet for a client. الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: You cannot make a dishonest claim even if it is at the insistence of your employer. If it is normal practice that the time taken to register the time […]
Read more...Is it permissible to remind a friend of a loan repayment they owe me?
Q: Is it permissible to remind a friend of a loan repayment they owe me? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: It is permissible for you to ask for the amount you loaned to your friend.
Read more...Gifting a land without registering the name of the giftee
Q: My father bought much land and properties overseas during his life. One particular piece of land was bought especially for my mother and he expressed this to her and there are witnesses to his statements. She accepted the gift but did not want her name showing on the property documents as she believed her husband’s […]
Read more...Are the earnings of a non practicing Muslim halal?
Q: I have a sister who works as a teacher for a school but she does not take hijab nor pray, but she stays in our house, is her earnings halaal? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: The lawfulness of any earnings depends on the lawfulness of the role being performed. Failure to maintain […]
Read more...The time value of money in Islam
Q: A father invested 850,000 rupees into an interest profit scheme in Pakistan in 1995 in one of his sons name. In 1995 the value of the rupees was strong. The rupees rate to the English pound was £1=55 rupees. Therefore 850,000 rupees was £15,454 in the year 1995. After 20 years, in 2015 the interest […]
Read more...Can we use the unlawful earnings to pay off a mortgage?
Q: I have £1000 profit worth of shares in a bank (they were acquired through the banks company share save scheme which i’m an employee in the IT department.) I also have a mortgage with the same bank. Is it permissible for me to use the £1000 profit from the shares to pay towards reduction in mortgage. Note […]
Read more...Working as a pensions administrator
Q: Is working as a pensions administrator allowed in Islam? الجواب حامدا ومصليا ومنه الصدق والصواب A: The permissibility of working as a Pensions Administrator depends upon the nature of the work involved. However, it is very highly likely that a significant part of the role if not most of the role will involve processing […]
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