Q: I would like to know with regards to investing in stocks and shares more specifically on purification of the income received as a result of an investment in a company that is sharia compliant according to your screening criteria outlined in the article on ‘investing in stocks and shares’ https://alqalam.org.uk/research-papers/investment-in-stocks-and-shares/. The question I would like to […]
Read more...Category: Earning Halal Fatawa
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...Cooling off period in shariah
Q: I’m looking to sell via Amazon inshaAllah. As a seller you would normally offer your customers a refund period. I heard that in fiqh this period cannot be longer than 3 days, is this correct? As the society norms is usually 14 days, 28 days etc… Could you shed some light on this and […]
Read more...Is the rent received from a barber shop halal?
Q: My dad has a shop which he has rented to a barber shop, my father had no idea if that money would be haraam, now he has given his word and that person has bought all the equipment’s for his saloon and renovated the shop. what the ruling of this money earned? الجواب حامدا ومصليا ومسلما ومنه الصدق […]
Read more...Will a gift be completed through the legal transfer of deeds? What if the donee is not aware of the gift?
Q: I have two questions regarding inheritance and gifts: 1) a family of four (mother, father and two sons) live together in one house. The father wishes to gift his house to both of his sons in his lifetime. What is the correct way of doing this Islamically? 2) can a mother gift her house (that […]
Read more...The ruling on gifting a property and retaining the right to live in it
Q: Husband (H) and wife (W) have two daughters. H and W wanted security for their daughters and the following was therefore proposed. H & W gift the property to the daughters but reserve for themselves a right to live in the property for, say, twenty years or death of both H & W, whichever is […]
Read more...Penalty for missed payments
Q: I’m renting a commercial shop and the contract has a clause regarding missed payments and interest etc… Can I say to ‘seller/landlord’ I will pay 10% on the rental amount if the rent is missed by 7 days and 20% if it’s missed by 14days? Please advise. الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب […]
Read more...Distribution of rental income in a joint ownership
Q: The husband and wife both bought the house together. On average they receive £630 in rent every month. The wife paid a contribution towards the deposit and in total has paid about £30k and the husband has paid off the remaining amount of about £120k. In the recent years the monthly mortgage payment has […]
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...Can you work for a music radio station?
Q: I’ve recently started a job with a company involved in the radio industry, they mainly play music. I work as a developer, on their back end systems, such as reporting what songs were played and when, etc and also on an iPhone application that lets people choose songs they want to listen to. Could you […]
Read more...Can I recover initial investments made towards CFDs?
Q: Would it be allowed to recover my initial investment made into CFDs or do I call it ‘quits’? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: You cannot take possession of any money that you have received through the CFDs investments even if it is to recover your initial capital deposit. As CFDs […]
Read more...Can I design revealing dresses for women?
Q: I have a bridal dressmaking/tailoring business. Majority of the time it western girls who come to me and ask for bespoke wedding dress. Of course this means that most of these are revealing and sometimes they ask me to do sketches of this dress. Is this business permissible ? 1)Me tailoring or getting my […]
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