Q: Is the responsibility of Zakāt a strictly individual responsibility or can it be joint say in the case of husbands and wives? Most spouses would have joint finances and liabilities or would treat theirs as such. الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Zakāt is strictly a personal obligation. Even in jointly […]
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Are you allowed to give money to pay off someone’s debt while knowing that part of that is likely to go towards paying off of interest?
Q: Are you allowed to give money to pay off someone’s debt while knowing that part of that is likely to go towards paying off of interest? The recipient of the financial help is a non-Muslim. الجواب حامدا ومصليا ومنه الصدق والصواب A: In principle, if you gift or lend someone some money that […]
Read more...What is the Islamic position on ‘Spread Betting’?
Q: What is the Islamic position on ‘Spread Betting’? Please find below two definitions given for this activity. From http://www.investopedia.com/terms/s/spreadbetting.asp Definition of ‘Spread Betting’ A type of speculation that involves taking a bet on the price movement of a security. A spread betting company quotes two prices, the bid and offer price (also called the spread), […]
Read more...What does one do If they can’t find a trustworthy executor for their wills?
Q: What does one do If they can’t find a trustworthy executor for their wills? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: One should seek to employ the services of a competent solicitor who will undoubtedly be regulated by his/her professional body.
Read more...Should one list items which they anticipate receiving but have not yet got ownership of in their will, under ‘assets’
Q: Should one list items which they anticipate receiving but have not yet got ownership of in their will, under ‘assets’? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: One may list them as potentially receivable assets but not as current assets. Once ownership is secured, one may update one’s will.
Read more...Q: Is the responsibility of Zakat a strictly individual responsibility or can it be joint say in the case of husbands and wives?
Q: Is the responsibility of Zakat a strictly individual responsibility or can it be joint say in the case of husbands and wives? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Zakat is strictly a personal obligation. Even in jointly owned wealth the obligation of zakat remains personal. Thus, if a husband and […]
Read more...Is paying off a person’s debt permissible if that debt was taken out for something deemed impermissible in Sharī‘ah?
Q: Is paying off a person’s debt permissible if that debt was contracted for something deemed impermissible in Sharī‘ah? الجواب حامدا ومصليا ومنه الصدق والصواب A: In principle, if you gift or lend someone some money that person is free to utilise that money in whichever way he/she feels even if you have […]
Read more...What’s the Islamic ruling on options to buy/sell something in the future?
Q: Are two parties allowed to simply agree to an ‘option’ for both parties in the future? For example, A agrees to an option with B that A may/may not buy something in the future. Likewise, B also agrees to an option to sell/not sell in future. Is this allowed? الجواب حامدا ومصليا ومنه […]
Read more...What is the Islamically correct way to contract a property developer to build a house for you?
Q: A buyer agrees with a property development company that they will pay the full price now for a house/flat now even though the property is still under construction. Once the house is complete, the buyer will then move into the property. During the period of construction, the property development company will pay rent for […]
Read more...Is one sinful while studying with a Interest (ribā)-based student loan? And will one be will considered as consuming ribā?
Q: Is one sinful while studying with a Interest (ribā)-based student loan? And will one be will considered as consuming ribā? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Under the current student loan agreement the student does not consume ribā. Rather, the student agrees with the Student Loan Company, that he will pay […]
Read more...Please could you clarify the Islamic permissibility for one to claim income support?
Q:Please could you clarify the Islamic permissibility for one to claim income support? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: The permissibility of being able to claim income support depends on whether the individual fits the eligibility criteria or not. The eligibility criteria can be seen at the following link: https://www.gov.uk/income-support/eligibility If […]
Read more...Why does one need to pay Zakat on a pension plan if one does not get access till later?
Q: I have recently setup a SI pension plan account where I can manage the investment but the principal and the gains are not available to me till the age of 55. Is the investment value still zakatable in the years leading up to age 55? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: […]
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