Q: I support my parents financially by putting money in to their account, however I am not sure if this money goes towards something which is permissible or impermissible. Is this permissible? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: If the support you provide your parents is used exclusively to perpetuate haram then this is […]
Read more...Tag: Earning Halāl Fatwā
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 interest permissible if below the inflation rate?
Q: Is interest permissible if below the inflation rate? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: The permissibility of interest at or below the rate of inflation is not supported by Al-Qalam and the majority of scholars. Please see the following link: http://www.1stethical.com/wp-content/uploads/2010/07/StudentLoans.pdf Rather, any loan that attracts a conditional increment is not permitted. This […]
Read more...If one has to pay money to apply for a grant, would this be considered gambling?
Q: If one has to pay money to apply for a grant, would this be considered gambling? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: If the fee represents real costs for processing the application it is permissible to charge such fee.
Read more...When applying for a grant to be used for a specific purpose, is it permissible for one to use the grant received for a different purpose?
Q: When applying for a grant to be used for a specific purpose, is it permissible for one to use the grant received for a different purpose? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: If the award of the grant is based on qualifying criteria then the criteria must be satisfied for the grant […]
Read more...In my Final Salary Pension there is a ‘death in service’ agreement, whereby lifetime assurance cover is payable which is 4 times the salary value. This is paid by the employer an no contributions are made by the employee. Is it permissible for my spouse to receive this lump sum?
Q: In my Final Salary Pension there is a ‘death in service’ agreement, whereby lifetime assurance cover is payable which is 4 times the salary value. This is paid by the employer and no contributions are made by the employee. Is it permissible for my spouse to receive this lump sum? الجواب حامدا ومصليا ومسلما […]
Read more...Is Zakah liable on the employee/employer contributions of a Final Salary Pension Scheme?
Q: Is Zakah liable on the employee/employer contributions of a Final Salary Pension Scheme? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Zakah is not liable on the pension contributions as it constitutes a weak debt. (see: http://213.175.220.56/~alqalamo/wp-content/uploads/Categories-of-Debts-and-Bad-Debts-for-the-Purposes-of-Zakah.pdf) However, if and when the pension is received it will be added to ones Zakatable assets if, […]
Read more...Please could you comment on the permissibility of a Final Salary Pension Scheme?
Q: Please could you comment on the permissibility of a Final Salary Pension Scheme? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Please visit the following links for further information: https://alqalam.org.uk/wp-content/uploads/pensions-and-gross-uncertainty-revised-V1aa.pdf and http://213.175.220.56/~alqalamo/wp-content/uploads/Zakah-on-Pensions.pdf. The above two links provide background and some of the answers to your questions. However, to answer in brief: Final Salary […]
Read more...Is it permissible to work as a Tax Compliance and Transfer Pricing Accountant or in the Finance Department of an insurance company?
Q: Is it permissible to work as a Tax Compliance and Transfer Pricing Accountant or in the Finance Department of an insurance company? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: When one works for a company where a major portion of the business activities of the company do not conform to the dictates of Sharīʿah […]
Read more...What is the ruling on Binary options trading?
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.
Read more...Is a Muslim better off earning no interest on money in the bank, or taking interest with intention of giving it to the poor?
Q: Is a Muslim better off earning no interest on money in the bank, or taking interest with intention of giving it to the poor? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: If it is possible to open an account with an Islamic bank or the Islamic window of a conventional bank and […]
Read more...Am I allowed to claim tax benefits as I have just been working a cash-in-hand job over the summer?
Q: Am I allowed to claim benefits as I have just been working a cash-in-hand job over the summer? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: If the tax regulations allow for you to claim tax benefits then you can claim, otherwise not. It would be appropriate for you to seek advice from your local […]
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