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e-Marefa DataBank for Islamic Economics and Finance

   (5251 - 5300 of 20733)
Fatawa

In leasing who pays for insurance ? : in equipment leasing, who should pay for insurance ?

Question: Is Leasing allowed in Islam ? I am willing to get some equipment for my factory on the terms of leasing. That is on rental basis. I have to pay a deposit of approx. 15 % of the equipment value ....

Subjects: Insurance; Payments; ٌLeasing

Fatawa

Mixcellanious fatwas on investment markets : can we take the 401K plan although we have no choice of selecting its stocks component ?

Question: In the company I work for, I have the opportunity to have a retirement plan (401 k) and for each dollar I put in this plan, the company matches with 50cents. The problem is most of the funds have a ....

Subjects: Investments; Islamic jurisprudence; Markets; Options (Finance); Stocks

Fatawa

Working in network that sells nothing : luring people to join a company that sells nothing

Question: AOAWW hope u will be fine with the blessing of god. I want to ask about a web business named as "BizNas" as you may have heard about that. It works as first of all we have to submit 99 ....

Subjects: Electronic commerce; Islamic jurisprudence; Network marketing; Sales

Fatawa

Fulfilling interest-based home financing contracts : continue paying interest-based mortgage or walk out of the house ?

Question: Assalamu Alaikum. I am a 34 year old with a 10 year old child. At present I'm living in the home that I purchased with my exhusband. At the time of purchase I did not have the full knowledge of ....

Subjects: Dwellings; Financing; Islamic jurisprudence; Purchasing

Fatawa

Buying gold, siver and currencies on credit cards : buying gold on credit cards

Question: This refers to a Fatwa given by Mufti Dr. Monzer Kahf on 23rd April 2002 under the topic of ‘business’ for a question in connection with a network marketing and the question and its Fatwa appears to be vague and ....

Subjects: Gold; Islamic jurisprudence; Local currencies; Sales; Silver

Fatawa

Working innocent jobs in the proximity of doubtful jobs : getting jobs through referrals

Question: Is referral business (word of mouth) in network marketing justified and permissible in Islam ?.

Subjects: Islamic jurisprudence; Network marketing

Fatawa

Working in firms owned by non-Muslims or with them : working with Jews

Question: Assalamu Alaikum wrt... I'm interested in making extra income and recently I went to a business building seminar by network 21 (Amway corp). Since it came from U. S., I wonder if it has anything to do with the Jews. ....

Subjects: Corporations; Islamic jurisprudence; Labour

Fatawa

Working in network sale of gold : selling gold on the internet through gold quest

Question: This refers to a Fatwa given by Mufti Dr. Monzer Kahf on 23rd April 2002 under the topic of ‘business’ for a question in connection with a network marketing and the question and its Fatwa appears to be vague and ....

Subjects: Electronic commerce; Gold; Islamic jurisprudence; Network marketing; Sales

Fatawa

Working in brokerage firms : broker executing Riba-based orders of bonds, shares, etc.

Question: Assalamu Alaikum : I would like to ask one of the scholars about the ruling on working for a financial institution. I am currently working as a Trader for a Discount Brokerage in Canada. I deal with clients over the ....

Subjects: Corporations; Labour; Mediation

Fatawa

Prohibition of Riba and its rationale : what is Riba and why it is prohibited ?

Question: Assalamu Alaikum. I don't have clear understanding of Riba. I would like to know what is actually the definition, application in the money market and why it is Haram ? Thank you.

Subjects: Financial markets; Islamic jurisprudence; Usury

Fatawa

Working in conventional banks : working in a bank : [11]

Question: Assalamu Alaykum. I want to know if it is permissible for the Muslim to work in the bank which take and give out interest or Riba.

Subjects: Banks; Labour

Fatawa

Working innocent jobs in the proximity of doubtful jobs : professional job on sharing basis

Question: Assalamu Alaikum, I'm working with a professional person as an associate (in UK) and whatever I earn he take half of it, in order to pay all the materials I use and all the people who assist me in my ....

Subjects: Islamic jurisprudence; Labour; Taxes

Fatawa

Working in firms that produces sells prohibited items not as main line of business : occasionally selling alcohol

Question: Bismillah Wa Salatu Wasalam Ala Rasululillah. My dear respected Faqih Assalamu Alaikum Wa Rahmatullah Wa barakatu. I am a student at college. I work part-time in the weekend at a supermarket in England. My main job is collecting trellis and ....

Subjects: Alcoholic beverages; Islamic jurisprudence; Sales

Fatawa

Working in firms that produces sells prohibited items as main line of business : designing an expansion to a tobacco factory

Question: I am a structural engineer. I was invited to design an addition to a tobacco factory (manufacturing cigarettes). Is it Halal to accept such work. Thanks. Salam..

Subjects: Islamic jurisprudence; Products; Tobacco

Fatawa

Other work and hiring related issues : applying for H1 job

Question: Is it permissible by me, I am an international student in America finishing my masters, to ask my other fellow Muslim brothers to search for me a H1 Job provide a H1 job if they can. Some of my friends have that capability. Thanking you.

Subjects: Islamic jurisprudence; Labour

Fatawa

Financing house purchase in the west : buying an apartment in Belgium : [2]

Question: Assalamu Alaikum, I'm 22 years old and I'm married. We are living in Belgium and it is very difficult to keep your religion but we try to make the best. I and my husband like to buy our own house. ....

Subjects: Belgium; Dwellings; Islamic jurisprudence; Purchasing

Fatawa

Dividends, bonuses, rewards and accidental insurance of credit cards : bonuses and prizes of credit cards

Question: Dear respected brother(s) in Islam. Asslam Aliykum Wa Rahmatu Allahi Wa Barakatu.I have a credit card (Citibank) that I used to use to purchase goods. This credit card gives 5 % in purchase new vehicle based on the amount of ....

Subjects: Awards; Credit cards; Purchasing; Rewards

Fatawa

Depositing with Islamic banks

Question: Assalamu Alaikum. I want to ask you about Islamic banking system. Bangladesh is a Muslim majority country. But her government doesn't follow Islamic laws. As a result there is interest system in our banks. Some of the families of our ....

Subjects: Bank deposits; Islamic Banks

Fatawa

Working in firms that produces sells prohibited items as main line of business : assignment on a production machine for tobacco

Question: Sorry for writing in English as I can't type in Arabic well ! I have an inquiry about mybrother's work. He is a religious young man, recently graduated from faculty of engineering and now works for a reputable company. He ....

Subjects: Islamic jurisprudence; Sales; Tobacco

Fatawa

Working in conventional banks : working in a bank : [10]

Question: Assalamu Alaikum. I have been working for the past 3 years for an American Investment Bank (Merrill Lynch International Bank). I recently read from one of your replies on-line the fatwa about interest i. e., that the one who pays ....

Subjects: Investment banks; Labour; United States

Fatawa

Non-interest charges of credit cards : handling charges in credit cards

Question: As-Salamo Alaikum. I have received an offer from one of the credit card companies with 0 % APR for any purchases or cash advance for 8 months provided that I would pay the full amount before the end of the ....

Subjects: Administrative fees; Commissions; Credit cards

Fatawa

Opening interest-based account : money market interest, is it prohibited ?

Question: I deal with a credit union bank. This bank has loans activities as well as investments activities e. g. Money Market Investment. At the end of the fiscal year, I receive the financial statement that shows the percent of each ....

Subjects: Financial markets; Investments; Islamic jurisprudence; Usury

Fatawa

Transactions confused with interest : is sharing cash discount interest ?

Question: Dear Shaikh Salam Alaikum A friend of mine has a manufacturing industry, He has to buy raw materials on credit terms, He can avail about 10 % discount on cash payment or upfront payment. He asked me to invest money ....

Subjects: Discount; Islamic jurisprudence; Partnerships; Transactions; Usury

Fatawa

Interest loans to buy other goods : loans to buy goods and personal loans

Question: In Islamic Shari’ah law or Islamic Jurisprudence Opinion, is there any differentiation between the car loan or alike and personal loan (cash) from bank that should be considered as usury ? Allah bless you more.... Thanking you very much. Wassalam.

Subjects: Islamic jurisprudence; Loans; Personal loans; Usury

Fatawa

Students loans : giving interest and student loans

Question: Assalamu Alaikum Brothers and sisters, I have these following questions. Please take as much time as you need. You don't have to be quick. Jazak Allah 1. I heard that taking interest is Haram, but is it also Haram to ....

Subjects: Education; Loans; Students

Fatawa

Working in conventional banks : working in a bank : [9]

Question: Assalamu Alaikum! Is it permissible for a Muslim to work as a loan officer in a bank which is owned by non-Muslims, i. e. The bank give loans which is paid back from interest money. Is it Haram for Muslim ....

Subjects: Banks; Labour

Fatawa

Working innocent jobs in the proximity of doubtful jobs : taxi driver

Question: Is it Haram to work as a taxi man in the western country, knowing that you will be taking customers to the pubs and clubs and that some customers will be dealing with drugs. Just note that I just drop ....

Subjects: Islamic jurisprudence; Labour; Taxicabs

Fatawa

Examples of lack of justifying needs : buying a bigger house on mortgage in the UK

Question: living in UK I bought a house ( took mortgage from a building society) now I am going to buy another bigger house and sell old house and take a mortgage and close old mortgage as you know banks and ....

Subjects: Dwellings; Financing; Islamic jurisprudence; Purchasing; Subprime mortgage

Fatawa

Working in firms that produces sells prohibited items not as main line of business : working in a grocery that sells prohibited products

Question: A friend of mine who currently lives in New York (USA) works in a company that sells food products, which include pig's meat and Alcohol. His job is to keep the stocks, so he places the orders with suppliers for ....

Subjects: Commodities; Labour; Retail stores; Sales; Taboos

Fatawa

Objectives of lottery and gambling : what is prohibited in gambling, the chance or the betting ?

Question: [Question 1] :I am living in the UK. Some of the websites (e. g. Microsoft) is doing a ‘daily draw’ which is exactly as if you are doing lottery, but you do not pay any money. If the numbers you ....

Subjects: Islamic jurisprudence; Lotteries

Fatawa

Working in real estates : real estate broker

Question: I’m enquiring about what is Halal and Haram on being a realtor or broker. Some concerns are receiving commissions from transactions regarding Riba and guiding clients to lenders and collaborating with lenders. Please include a Fatwa on buying and selling..

Subjects: Brokers; Labour; Real property

Fatawa

Is insurance permissible ? Life, car, health, property, hazards, shipping, etc. : comprehensive car insurance

Question: Is comprehensive car insurance (covering damage to your own car, its passengers, others’ cars or properties) Haram in Islam ? In case it is Haram, then what is permissible form of car insurance to fulfill country’s traffic regulations ? Jazakum Allah Khairan,.

Subjects: Insurance policies

Fatawa

Buying share, stocks and mutual funds : buying shares

Question: Can I buy the shares of a company that engages in business that is not Haram even if the company gets loans from non-Islamic banks. Examples of such companies are construction and food companies. Then what of banks ?.

Subjects: Corporations; Financial markets; Islamic jurisprudence; Stocks; Usury

Fatawa

Miscellanious on interest : can Zakah be given to settle an interest-based loan ?

Question: As-Salamu`Alykum :This question is refered from the live fatwa. Can you please answer it coz we need it for permanent fatwa bank.I am the chairman of a Zakaat committee, so I need some guidelines on how to operate and manage ....

Subjects: Alms tax; Islamic jurisprudence; Loans; Usury

Fatawa

Objectives of lottery and gambling : lottery is forbidden even if it has certain charitable objectives

Question: In the name of Allah the most gracious the most merciful all praises and thanks are due to Allah, the Lord of mankind and all that exists, dear scholar, for the last two weeks nknowingly (may Allah swt forgive us)I've ....

Subjects: Charities; Gambling; Islamic jurisprudence; Lotteries; Taboos

Fatawa

Studying and working in the other financial firms and the financial sector : tele seller of conventional credit cards and loans

Question: Have I to accept a job in American bank to work as a tele sales with a commission ?Notes : tele sales for credit cards and loan thank you for your help and cooperation..

Subjects: Credit cards; Islamic jurisprudence; Loans; Vendors and purchasers

Fatawa

What to do with earned interest ? : to whom can interest money be given ?

Question: I want to send some money to our brothers and sisters in Palestine. I am sending a mixture of Sadaqah, Zakah and interest money. The main groups in the UK I know use some of our donation towards administrative expenses. ....

Subjects: Alms tax; Charity; Islamic jurisprudence; Money; Usury

Fatawa

Financing house purchase in the west : buying a house on mortgage

Question: I live with my husband in us we live in rent apartment we are planning to bay a house we have 20 % cash money for the price of this house. Now we pay about 800 $ monthly as rent ....

Subjects: Housing; Islamic jurisprudence; Purchasing; Subprime mortgage

Fatawa

Variable interest and interest under other names, prize bonds and accounts : variable and fixed interest

Question: Is fixed amount of interest Haram or Halal ?.

Subjects: Islamic jurisprudence; Taboos; Usury

Laws

The blueprint of Islamic banking in Indonesia.

Donor award: Indonesia

Subjects: Indonesia; Banks; Islam; Islamic jurisprudence; Law

Fatawa

Buying share, stocks and mutual funds : trading mutual funds

Question: As-Salamu `Alaykum, I want to ask you can we buy or sell mutual funds in North America when you do not know these big companies get loans or dealing with other companies are interest based but their main stream business ....

Subjects: Commerce; Islamic jurisprudence; Mutual funds

Fatawa

Price differentiation and discrimination : price differentiation between residents and foreigners

Question: As-Salamu Alaykum Wa Rahmatullahi Wa Barakaatuh. In the name of Allah, most gracious, most merciful. Thank you for your wonderful service. I have recently visited an Arab country that is mainly Muslim. I noticed that there are posted prices for ....

Subjects: Foreigners; Islamic jurisprudence; Monopolies; Price policy; Prices

Fatawa

Alternatives to interest : buying a computer on installments

Question: Salam Alaykum. Is it permitted to by a computer by installment on a fixed interest over certain amount.

Subjects: Computers; Installment sales; Islamic jurisprudence; Usury

Fatawa

Objectives of lottery and gambling : prohibition of lottery even with a charitable cause

Question: IS the lottery, Halal or Haram lottery money goes to help cancer Organizations, hospital and other good causes. They give one third as a winning price the rest goes to help the community and ETC..

Subjects: Charities; Gambling; Islamic jurisprudence; Lotteries; Taboos

Fatawa

Studying and working in the other financial firms and the financial sector : working in investment companies

Question: As-Salamu `Alaykum, I want to ask you : can we buy or sell mutual funds in North America when you do not know these big companies get loans or dealing with other companies are interest based but their main stream ....

Subjects: Labour; Mutual funds

Fatawa

Interest loans to buy a car : a loan for a luxury car

Question: I had made a loan with interest for luxury product (a nice car) and I want to know if there is any possibility to be forgiven. Salam Alaikum.

Subjects: Purchasing; Usury

Fatawa

Students loans : student loan before reverting to Islam

Question: Assalamu Alaikum~Questions about the permissibility of taking student loans with interest have been asked many times. This assumes that the student loan has not already been taken. In my case, I reverted to Islam well into my college career, after ....

Subjects: Education; Loans; Students

Fatawa

Financing house purchase in the west : buying a house in Canada : [3]

Question: Assalamu Alaykum I have read the Fatwa by the European council (headed by Shaikh Qaradawi) about buying a house by mortgage. But I am not really sure if I can take it in my case or not : 1-I am ....

Subjects: Canada; Housing; Islamic jurisprudence; Sales

Journal Articles

Financing build, operate and transfer (bot)‎ projects : the case of islamic instruments

By: Khan, Tariq Allah. Islamic Economic Studies. Vol. 10, no. 1 (Sep. 2002), pp.1-36, 36 p.

Subjects: Financing; Islam; Islamic jurisprudence; Management; Privatization

Journal Articles

Islam and development revisited with evidences from malaysia

By: Pramanik, Ata al-Haqq. Islamic Economic Studies. Vol. 10, no. 1 (Sep. 2002), pp.39-74, 36 p.

Subjects: Economic development; Economic policy; Islam; Islamic ethics; Secularism

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