بنك معلومات "معرفة" للاقتصاد والتمويل الإسلامي

Question: Please can you explain if it’s permissible to use interest free finance to purchase a car.Some showrooms let you hire-purchase cars where it’s interest free, with no deposit. There is a scheme for certain company employees that allow the following ....

Subjects: Automobiles; Financing; Islamic jurisprudence; Purchasing; Usury

Question: An Islamic bank’s customer has recently been awarded facilities in relation to a large developmental project the customer has won in a tender. The facilities include letters of credit (LCs) and letters of guarantee (LGs).In view of the large size ....

Auditors Inc: PricewaterhouseCoopers (Jiddah, Saudi Arabia)
Source: Annual report 2013.

Subjects: Annual reports; Auditors' reports

Question: Can Zakat be given to those who have been in an accident and need an emergency life saving operation ? Can this fall under the category of ‘debtors’ as the individual needs to pay this money for the operation in order to survive ?.

Subjects: Alms tax; Alms tax bestowments; Islamic jurisprudence

Auditors Inc: PricewaterhouseCoopers (Kuala Lumpur, Malaysia)
Source: Annual report 2014.

Subjects: Accountants; Auditing; Financial statements; Islamic jurisprudence; Right to property

Question: Company A has approached an Islamic bank seeking finance to import steel and other building materials from various suppliers. It has been noticed that the company A is holding 25 % of the shares of company B. Company A is ....

Auditors Inc: PricewaterhouseCoopers (Jiddah, Saudi Arabia); KPMG al-Fawzan and al-Sadhan (Jiddah, Saudi Arabia)
Source: Annual report 2013.

Subjects: Annual reports; Auditors' reports

Auditors Inc: PricwaterhouseCoopers (Geneva, Switzerland)
Source: Annual report 2013.

Subjects: Annual reports; Auditors' reports

Auditors Inc: Grant Thornton-al-Qatami, al-Aiban and Partners (Kuwait); Mazars Hind Abd Allah al-Sari and Co. (Kuwait)
Source: Annual report : consolidated financial statements and independent auditors' report 31 December 2013.

Subjects: Annual reports; Auditors' reports

Question: If I have wrongly claimed gift aid, what is required of me now by Sharia in this case ? The transaction is now complete so is not reversible and was processed via a friend. If the charity does end up ....

Subjects: Endowments; Fraud; Kindness; Money; Repentence

Question: Please can you advise as to the Shariah permissibility of the Takaful model the government wishes to introduce as alternative finance for funding university tuition fees ?.

Subjects: Financing; Government; Higher education; Interdependence; Islamic jurisprudence

Question: If I have wrongly claimed gift aid, what is required of me now by sharia in this case ? The transaction is now complete so is not reversible and was processed via a friend. If the charity does end up ....

Subjects: Endowments; Islamic jurisprudence; Repentence

Question: The government of a country has announced a social welfare scheme under which an interest-free loan is provided to nationals who wish to avail themselves of the scheme, in order to construct villas for their own residential purposes only.An Islamic ....

Donor award: Alliance Bank Malaysia Berhad (Kuala Lumpur, Malaysia)

Subjects: Financial transactions; Islamic jurisprudence; Management; Social responsibility; Terrorism

Donor award: RHB Islamic Bank Berhad (Kuala Lumpur, Malaysia)

Subjects: Islamic jurisprudence; Banks; Finance; Financial markets; Management

By: Uqayli, Muhammad Bin Musa Uthman Bin Muhammad. al-Nahḍah. Vol. 15, no. 2 (Apr. 2014), pp.1-20, 20 p.

Subjects: Banks; Economic conditions; Economic development; Islam; Islamic jurisprudence

By: Bin Yusuf, Muhammad. Global Islamic Economics Magazine. No. 23 (Apr. 2014), pp.57-57, 1 p.

Subjects: Contracts; Islam; Islamic economics; Ruling in Islam; Speculation

By: Habib, Farrukh. Global Islamic Economics Magazine. No. 23 (Apr. 2014), pp.53-54, 2 p.

Subjects: Analogy (Islamic jurisprudence); Islamic jurisprudence

Donor award: Islamic Development Bank (Jiddah, Saudi Arabia)
Source : Rapport Annuel. Vol. 39 (Apr. 2014), pp.1-80, 80 p.

Subjects: Auditing; Cash flow; Jiddah; Right to property

Question: An Islamic bank wishes to provide financing to one of its customers, in order to purchase a ready property from a developer. No sale and purchase agreement has been signed between the customer and the developer and only the booking ....

Question: Under exceptional circumstances, I understand one can lie. If someone has not had a job for a long time and desperately esquires an income, can they lie in order to secure a job ? What if they have witnessed others lie for the job and get it ?.

Subjects: Islamic jurisprudence; Labour; Lying

Question: A company involved in the trade of gold and diamonds has approached an Islamic bank seeking a financing facility.The financing facility may include the following :Financing the procurement of gold, silver, diamonds and other precious stones from the suppliers for ....

Auditors Inc: Acnabin (Dhaka, Bangladesh)
Source: Annual report 2013.

Subjects: Annual reports; Auditors' reports

Donor award: Qatar Islamic Bank (Dawhah, Qatar)

Subjects: Commercial law; Islamic jurisprudence; Qatar Islamic Bank

Question: How would a wife pay her Zakat if she has Gold / Silver equal to or above the minimum level but no source of income of her own to pay the Zakat from ? As she does not work and ....

Subjects: Alms tax; Islamic jurisprudence; Jewelry

Question: Ali has approached an Islamic bank with a request to assist him to buy out the shares of his minority partner Akram in a running foodstuff business. He cannot meet with the demand of Akram for full down payment for ....

Auditors Inc: KPMG Audit Plc (Birmingham, United Kingdom)
Source: Annual report and financial statement for the year ended 31 December 2013.

Subjects: Accounting; Auditing; Financial statements; Islamic jurisprudence; Social responsibility

Question: What is the ruling on the permissibility of conventional travel insurance products ?My particular concern focuses on the potential for significant medical expenses incurred outside your country of residence, where such facilities are unlikely to be free for non-residents. Are there any Halal / Takaful travel insurance products available ?.

Subjects: Insurance; Insurance companies; Islamic jurisprudence; Products; Travel

Question: A leasing company provides financing to small and medium-sized businesses wishing to acquire commercial vehicles, machinery and equipment. The company has approached an Islamic bank seeking a funding line to be able to finance its customers as and when required ....

Question: A customer of an Islamic bank had obtained financing through a number of Murabahahs. Each Murabahah contract was executed at different time, and had its own schedule of payment which was different from the others.With the intention of managing some ....

Donor award: Africa Islamic Economic Foundation (Tamale, Ghana)

Subjects: Africa Islamic Economic Foundation; Financing

Question: If an individual lends £ 2,000 to his relative on the basis of Qarḍ Ḥasana (gratuitous loan) and the £ 2,000 is still outstanding. How should the lender treat the outstanding £ 2,000 for the purposes of Zakah ?.

Subjects: Alms tax; Debts; Islamic jurisprudence; al-Qard al-Hasan

Donor award: Bank of Industry and Mine (Tehran, Iran)
Source : Annual Report. Vol. (Mar. 2014), pp.1-103, 103 p.

Subjects: Bank of Industry and Mine; Iran

Donor award: Islamic Financial Services Board (Kuala Lumpur, Malaysia)

Subjects: Banks; Financial institutions; Financial transactions; Islam; Islamic jurisprudence

Donor award: Karafarin Bank (Tehran, Iran)
Source : Annual Report and Financial Statements. Vol. (Mar. 2014), pp.1-124, 124 p.

Subjects: Karafarin Bank

Auditors Inc: BDO al-Nisf and Partners (Kuwait); RSM al-Buzay and Co. (Kuwait)
Source: Annual report 2013.

Subjects: Annual reports; Auditors' reports

By: Ahmad, Abu Umar Faruq. Global Islamic Economics Magazine. No. 22 (Mar. 2014), pp.75-76, 2 p.

Subjects: Islamic Banks

By: Ibn Yusuf, Muhammad. Global Islamic Economics Magazine. No. 22 (Mar. 2014), pp.74-74, 1 p.

Subjects: Corporations; Insurance; Interdependence; Islam; Islamic jurisprudence

Donor award: Saudi National Bank (Jiddah, Saudi Arabia)

Subjects: Islamic jurisprudence; Auditing; Debts; Saudi Arabia; Stockholders

Auditors Inc: Ernst and Young al-Aiban, al-Osaimi and Partners (Kuwait); Rodl Middle East (Kuwait)
Source: Annual report : Consolidated financial statements 31 December 2013

Subjects: Annual reports; Auditors' reports

Question: Can I pursue a career as an actuary ?The degree is called actuarial science and involves a high amount of mathematical analysis which predict, as best as may be possible, future risks in financial investments.Some of the jobs available from ....

Subjects: Financial statements; Islamic jurisprudence

Question: Is it permissible for an Islamic bank to issue preferred shares or to invest in a company having preferred shares ?.

Auditors Inc: A. F. Ferguson and company (Karachi, Pakistan)
Source: Annual report 2013.

Subjects: Capital; Financial statements; Investments; Islamic jurisprudence; Management

Auditors Inc: Aziz Halim Khair Choudhury (Dhaka, Bangladesh); UHY Syful Shamsul Alam and Co. (Dhaka, Bangladesh); Howladar Yunus and Co. (Dhaka, Bangladesh)
Source: Annual report 2013.

Subjects: Commercial law; Islamic jurisprudence; Management; Profits; Right to property

Auditors Inc: Rodl Middle East (Kuwait); Ernst and Young al-Aiban, al-Osaimi and Partners (Kuwait)
Source: Annual report 2013.

Subjects: Annual reports; Auditors' reports

Question: To my understanding, Breakdown cover is not allowed due to Gharar. Does the same principle apply to gym membership, in that I am paying a monthly fee when the usage of the service is not known, I may use the ....

Subjects: Athletic clubs; Insurance; Islamic jurisprudence; Perillous saale

Question: An Islamic bank issued a letter of credit (LC) with a usance period of 90 days, with financing through a Murabahah facility for another 90 days. Upon receiving the shipping documents, the bank signed the Murabahah agreement with the customer ....

Auditors Inc: al-Waha Auditing Office Ali Owaid Rukhaeyes (Kuwait); Ernst and Young al-Aiban, al-Osaimi and Partners (Kuwait)
Source: Annual report 2013.

Subjects: Annual reports; Auditors' reports

Auditors Inc: KPMG (Petaling Jaya, Malaysia)
Source: Annual report 2013.

Subjects: Annual reports; Auditors' reports

Auditors Inc: KPMG Lower Gulf Limited (Abu Zaby, United Arab Emirates)
Source: Annual report 2013.

Subjects: Auditing; Islamic jurisprudence; Management; Right to property; Stockholders