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 […]
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Is it prohibited to get a tax refund on Zakāt?
Q: It is prohibited to get a tax refund on zakat? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: The benefit prohibited to the payer of zakāt is that which comes directly from the zakat itself. Incidental benefit from a third party, as in the case of a tax refund, is not prohibited.
Read more...What types of contracts may relate to a minor and what basic rulings apply?
Q: What types of contracts may relate to a minor and what basic rulings apply? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: There are three basic types of contracts that may relate to a minor: 1. Contracts that are only beneficial for a minor. E.g., acceptance of gifts, charity or wills. Such contracts do not […]
Read more...What is the Islamic stance on joint tenancy ownership of a property
Q: Are the joint tenancy laws of England (whereby one tenant inherits the other’s share directly on death) valid in Islamic law? What happens if I share a property with my mother- on her passing does her share come to me automatically or do my siblings then gain a share islamically? الجواب حامدا ومصليا ومسلما […]
Read more...What is the Islamic position if legally the son owns the land but the mother has retained control?
Q: What is the Islamic position if legally the son owns the land but the mother has retained control? An elderly woman owns some land in Pakistan through which she receives rent on a regular basis. She is unaware of the Islamic laws of inheritance. She wants to leave the land to her son and […]
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