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 […]
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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: […]
Read more...How can I find Halal investments?
Q: I am trying to get into investing into shares but I can’t find all the criteria of companies that you list in your article? How do I find all of this information is there any easier way to find halaal companies to invest into? A: الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب You may […]
Read more...Are gold and silver ETFs such as GLD and SLV halal to invest in?
Q: Are gold and silver ETFs such as GLD and SLV halal to invest in? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Gold and silver ETFs may be traded in principle provided the fund itself and the manner in which it is traded is compliant with sharia.
Read more...Do I need to pay Zakat on my pension each year or when I start receiving it?
Q: Do I need to pay Zakat on my pension each year or when I start receiving it at the age of 55? The pension is two fold. 1) My employer contributes £300 per month towards my chosen pension provider. 2) My annual bonus, rather than paying 40% tax on it, is paid to my […]
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 […]
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