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 […]
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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...In the case of an insurance claim, can one include the value of the premiums paid for other cars?
Q: I understand that with car insurance claims, one should only recoup a sum equivalent to the total paid to a particular company to date, and any excess received beyond this sum be ‘repaid’ through future premiums to that same company. In both cases (historical payments and futures insurance cover), can one include the value […]
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...Is it necessary for Zakat to be allocated and spent within 1 year of receiving the donation?
Q: What is the time-period for dispensing Zakat? Is it necessary for Zakat to be allocated and spent within 1 year of receiving the donation? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Zakat should be distributed as soon as possible. If there are procedural delays in the PROPER discharge of zakat which includes proprietary […]
Read more...Can Zakat ul Fitr only be distributed in the form of food?
Q: Is it permissible for Zakat ul Fitr to be given in the form of cash or new clothes, or must it be spent on food? الجواب حامدا ومصليا ومنه الصدق والصواب A: Zakatul Fitr can be given in the form of cash or new clothes and does not have to be spent on food. […]
Read more...Is comprehensive car insurance permitted or should third party insurance only be taken?
Q: Is comprehensive car insurance permitted or should third party insurance only be taken? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: In the case that only conventional insurance is available, if the requirements of the law are met by third party only insurance and this incurs less cost in payable premiums than […]
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 […]
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