Q: What is the ruing on Binary options trading? الجواب حامدا ومصليا ومنه الصدق والصواب A: Please see the following link: https://alqalam.org.uk/fatawa/investments-fatwa/is-it-permissible-to-purchase-stocks-using-call-and-put-options/ Binary options (all-or-nothing options) are simply another form of call or put options and are not sanctioned in Islam.
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Can one bequeath their house to a child or grandchild of theirs?
Q: Can one bequeath their house to a child or grandchild of theirs? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: The lady is entitled to bequeath up to one third of her estate. However, she cannot bequeath to anyone who is already an heir. As her daughter is an heir she cannot be the […]
Read more...If the wife was made the sole beneficiary of a will in exclusion of the children, and she received the entire estate – wrongly benefiting thereof for several years, is she now required to redistribute it according to Sharī’ah given that she has learnt of her error?r
Q: If the wife was made the sole beneficiary of a will in exclusion of the children, and she received the entire estate – wrongly benefiting thereof for several years, is she now required to redistribute it according to Sharī’ah given that she has learnt of her error? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب […]
Read more...How should ownership of a house be divided if both spouses contribute towards regular payments and also the initial deposit?
Q: How should ownership of a house be divided if both spouses contribute towards regular payments and also the initial deposit? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: The ownership of your brother’s house depends on the understanding at the time of purchase between your brother and his wife. If the understanding was that the […]
Read more...Is is permissible to give Zakah to someone in the form of food vouchers instead of cash?
Q: Is is permissible to give Zakah to someone in the form of food vouchers instead of cash? الجواب حامدا ومصليا ومنه الصدق والصواب A: It is permissible to give food vouchers instead of cash. However, the Zakah will only be discharged once the recipient receives the food. A food voucher is an assignment of debt […]
Read more...Where a specific Fatwā is delivered tolerating an otherwise problematic practise, can an individual avail himself to this if he does not fit those specific requirements?
Q: Where a Fatwā is delivered tolerating an otherwise problematic practise, can an individual avail himself to this if he does not need to? I’m told that using cheques to cash money in accounts can be understood to become tolerated due to the need, as is also the case with car insurance. As far as I […]
Read more...Is it permissible to be an accountant?
Q: Is it permissible to be an accountant? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: It is permissible to be an accountant. However, one should not involve oneself in anything that is prohibited in Sharī‘ah or is unlawful according to the laws of the state. The hadith in which the scribe and witnesses of riba […]
Read more...Are my earnings as a waiter serving Haram food, considered as Halal income?
Q: Are my earnings as a waiter serving Haram food, considered as Halal income? In light of the fatwa regarding permissibility of working in supermarkets that sell alcohol, is it permissible for me to work as a waiter, serving Haram food? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Whilst in principle the two scenarios are […]
Read more...Are ‘Child Trust Funds’ permissible?
Q: Are ‘Child Trust Funds’ permissible? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: The concept of a CTF in which money is set aside for a child until he/she reaches 18 years of age is one that is in conformity with Verse 6 of Surah al-Nisa. However, it is how the money is invested, […]
Read more...How would I calculate my zakah as I am self-employed?
Q: How would I calculate my zakāh as I am self-employed? I am a locum Pharmacist and work as a limited company. My wages gets paid into my company account and not directly into my current account and as a self-employed person the fees I get paid are a gross amount which are liable to […]
Read more...Can I reduce my tax liabilities through lying, as Islamically we are entitled to whatever we earn?
Q: Can I reduce my tax liabilities through lying, as Islamically we are entitled to whatever we earn? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: If the revenues of the state are not sufficient to meet its expenditure needs a tax may be levied on the population provided it is proportionate to the need. […]
Read more...Is trading “covered warrants” on the stock market permissible?
Q: Is trading “covered warrants” on the stock market permissible? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Warrants represent a right to purchase an asset similar to a call option and do not represent the underlying asset itself. Thus, they cannot be traded.
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