Q: I need your guidance in regards to a job offer that I have received. I have been offered a job at the VP (the central securities depository in Denmark) as a relationship manager. My main responsibility would be: •Ensuring that the clients are satisfied with the overall service they are receiving. •Promoting and selling […]
Read more...Category: Earning Halal Fatawa
When doing business, is there a limit on the amount of profit according to Islam?
Q: l had a question regarding silver bullion we buy & sell and wanted to know how do we determine how much to charge to sell these silver bars, what is a acceptable profit margin as my friends says there is none. Even if there is no limit on the profit one is allowed, l […]
Read more...Analysing the impact of changes in the interest rates as part of the job
Q: I was planning to apply for the Government Economic Service’s graduate scheme. Is it halal to work in such a profession in which I may be required to analyse, say, the impact of changes in the interest rates? The work is wide-ranging so it is not guaranteed that I would end up doing such a […]
Read more...Can we take out an individual voluntary arrangement (IVA) for paying off debts?
Q: I have a huge amount of debts and I am considering taking out an IVA plan even though I can make the payments to the companies, Is it permissible for me to take an IVA which means I will not pay back all the money I owe to the creditors which means up to 60% […]
Read more...Can I handle fruits and vegetables as part of my job?
Q: My question is regarding the handling of fruits and vegetables in the workplace as one’s job. Picking and packing them. And ones wages in return for this. I know the general principle is that fruits and vegetables are halal, but in this day and age, they have chemical sprays and insecticides/pesticides on them, and stuff […]
Read more...Car finance through Amanah prestige
Q: Can you please tell me if car finance offered through Amanah prestige is halal and shariah compliant? www.amanahprestige.com الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: The car finance offered through Amanah prestige is the conventional form of finance. There does not appear to be any attempt to describe it as Shariah […]
Read more...NHS Pensions schemes
Q: Following the fatwa regarding Local Government Pension Schemes dated August 3rd 2015, does the issue of uncertainty render NHS pensions as impermissible? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: No, NHS defined benefit schemes follow the same rule as the Local Government defined benefit Pension Scheme.
Read more...Zakat on real estate assets listed as “for sale or let”
Q: My question is how should real estate assets which are on the market as “for sale or let” be treated in realtion to zakah. Are they to be treated as trade stock or as rental stock? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: This all depends upon the intention with which the real […]
Read more...Is my pension scheme permissible?
Q: I work for the London borough of Newham and I have been opted in to the pension scheme with LGPS (Local Government Pension Scheme). I have heard some pensions are not permissable and would like to know if the LGPS pension scheme is permissable or not. الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: […]
Read more...Bartering in Islam
Q: Can we create an online and mobile platform for the bartering of goods among consumers? Kind of like a classifieds site specifically for bartering items. Users are able to exchange items (and potentially services) they possess for items/services other individuals possess through the platform. We were told some months ago that there may be an issue […]
Read more...Can we use invoice factoring?
Q: I have a pharmacy and for all medical items we dispense, I claim a reimbursement from the NHS. They will pay me 2 months in arrears, so as an example, March payment will be paid on the 3rd of May. There is a finance company that can pay March’s payment at the end of March. […]
Read more...Receiving a refund for mis-sold PPI and interest
Q: My father has received a refund for mis-sold PPI on a credit card for period from 2000 – 2012. They have also refunded interest he paid, as well as 8% interest on top as statutory compensation. Is the refund of the interest he paid permissible to keep? Also the 8% interest as compensation? We […]
Read more...