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e-Marefa DataBank for Islamic Economics and Finance

   (5401 - 5450 of 20733)
Fatawa

Accepting insurance proceeds : accepting insurance proceeds from a contract bought by employer

Question: One of my friends had died by accident from UAE while he was working on his company. Company has taken life insurance for him according to law of U.A.E. this insurance amount is already sanctioned. But our problem is this ....

Subjects: Commercial companies; Insurance

Fatawa

Working in companies that sometimes deal in interest : accountant in a software company

Question: [What is Shari'ah rule on accountant in a software company ?].

Subjects: Accountants; Banks; Corporations; Islamic jurisprudence

Fatawa

Studying and working in the other financial firms and the financial sector : working in a credit card company

Question: Assalam-O-Ailakum Warahmatullah-e-Wabarakatuhu, I have two questions. 1) Is it Haram to work in a credit card company ? even though a person is working as a programmer and his / her job has nothing to do with the interest ? ....

Subjects: Corporations; Credit cards; Islamic jurisprudence

Fatawa

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

Question: Assalamu Alaikum Wa Rahmatullah Wa Barakatuh. I have moved to the United States recently to continue my study here. I need to get a car to be able to fulfill my daily life. I don't have enough money to pay ....

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

Fatawa

What to do with earned interest ? : what to do with interest money : [2]

Question: I have a bank account that gives me a regular interest of 8 % annually, I would like to get rid of this interest. What are the proper ways to spend it ?.

Subjects: Interest; Islamic jurisprudence; Money; Wages

Fatawa

Financing house purchase in the west : criteria of necessity to buy a house on interest

Question: Assalamu Alaikum, I read about the Fatwa of buying home through mortgage and the key of that Fatwa is two things Islamic solution unavailable and necessity for home buying.My question is what are the criteria of necessity ? Who can set the situation of necessity ?Jazakum Allah Khair.

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

Fatawa

Prizes given to contestants and students : prizes given to contestants

Question: Assalamu 'Alaikum. Dear knowledgeable scholar of Islam, In the UK and Ireland television, there is the famous TV game called who wants to be a Millionaire ? It consists of 15 challenging questions to a contestant, each time a contestant ....

Subjects: Awards; Contests; Islamic jurisprudence

Fatawa

Objectives of lottery and gambling : gambling and lottery are forbidden in spite of a good objective

Question: My parents buy lottery tickets because they want the money to help our family financially, for example see to it that my grandmother gets a house and everyone in my family has no debt, etc. They only want to help ....

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

Fatawa

Work related practices in gray area : teaching steeling methods at schools

Question: Salam. First of all thank u for entertaining my question and solve my dilemma I’m having now. Dr. --------- runs a course called “computer security and privacy” at the university of --------------. His course is extremely popular, partly due to ....

Subjects: Islamic jurisprudence; Technology

Fatawa

Objectives of lottery and gambling : lottery is the same as gambling

Question: Is playing lottery-buying a ticket, expecting a lucky draw lawful ?.

Subjects: Gambling; Islamic jurisprudence; Lotteries

Fatawa

Studying insurance and working in insurance companies : working in an insurance company [1]

Question: Assalamu Alaikum, I have searched your Fatwa bank for rulings on insurance in general and working in them specifically, in the hopes of resolving a major question of mine. I am near the completion of my university degree and I ....

Subjects: Insurance; Insurance companies; Labour

Fatawa

Buying share, stocks and mutual funds : buying shares

Question: Assalamu Alaykum. What is the Islamic ruling on buying and selling of shares ?NotesRequest an urgent reply may Allah Subhana Wa Ta Ala reward you the best. Wassalamu Alaykum..

Subjects: Islamic jurisprudence; Purchasing; Stocks

Fatawa

Buying share, stocks and mutual funds : investment in mutual funds

Question: First of all I would like to tell you that I currently live in Canada. My question is regarding mutual funds. Here almost all of the mutual funds have some portion (from 1-15 %)of their portfolio invested in cash or ....

Subjects: Investments; Islamic jurisprudence; Mutual funds

Fatawa

Excuses for interest deals : interest loans to fight poverty

Question: Dear Sir, Assalamu Alaikum. I want to know the view of Islam about taking loan from bank. It is to be noted here that for taking loan we've to pay interest to the bank. But without taking loan it is ....

Subjects: Deals; Islamic jurisprudence; Loans; Poverty mitigation; Usury

Fatawa

Promotional prizes with or without purchased tickets : free prizes given away on chance basis

Question: Dear Sir, Assalamu Alaikum. My question is about the view of Islam about lottery. It is stated In the Holy Qur’an that Lottery is Haram. But there are different types of lottery. In today’s business lotteries are included to attract ....

Subjects: Islamic jurisprudence; Lotteries

Fatawa

Working in activities that may hurt the interests of the Ummah : importing from a boycott country

Question: Assalamu Alaykum, my question is regarding the Fatwa of boycotting American and Israel product. We are doing business with used computer and at the moment we are only able to find / buy cheap computer in America to be able ....

Subjects: Economic sanctions; Imports; Islamic jurisprudence; Labour; State

Fatawa

Working in insurance companies and as actuary : working in insurance : [1]

Question: Assalamu Alaikum, I have searched your Fatwa bank for rulings on insurance in general and working in them specifically, in the hopes of resolving a major question of mine. I am near the completion of my university degree and I ....

Subjects: Insurance companies; Labour

Fatawa

Alternatives to interest home financing : Buying a house in Canada where the Islamic Housing Cooperative has difficult uncompetitive conditions

Question: Assalamu Alaikum, I'm asking you for a help, will it be Halal for us to borrow money from a normal bank, even thou we have found an Islamic cooperative, which we feel is not the one what will help us ....

Subjects: Competition; Financing; Housing; Islamic jurisprudence; Purchasing

Fatawa

Alternatives to interest home financing : buying a flat in UK

Question: Assalamu Alaikum. I am presently resident in the UK. I am planning to buy a flat for residence In Sha Allah. I found out that there is bank of Kuwait offering Murabahah or Ijarah system as alternatives to interest based ....

Subjects: Dwellings; Financing; Housing; Islamic jurisprudence; Purchasing

Fatawa

Privatization and profit caps : privatization

Question: How does Islam view privatization ?.

Subjects: Islamic jurisprudence; Pensions

Fatawa

Is insurance permissible ? Life, car, health, property, hazards, shipping, etc. : fire and accident insurance in Canada

Question: Assalamu Alaikum, I have a specific problem. My 3 year old son is not a fully normal child and as such, has a tendency to create big problems at home due to his over-active energetic behavior. I am afraid that ....

Subjects: Accidents; Canada; Fires

Fatawa

Objectives of lottery and gambling : does an educational use of gambling proceeds justify it ?

Question: Can we purchase lottery tickets since the proceeds go to education ? or, is it considered gamboling and not permissible under Islamic Law.

Subjects: Education; Gambling; Islamic jurisprudence; Lotteries

Fatawa

Financing house purchase in the west : buying house in the USA

Question: I am a married person living with my wife and 1 child. I have been in USA for five years, living in apartments and paying rents. Now I am thinking to buy a house for me and my family. I ....

Subjects: Housing; Islamic jurisprudence; Purchasing; United States

Fatawa

Working in activities that may hurt the interests of the Ummah : working in the defense department

Question: Assalamu Alaikum I would like u to answer my q asap please, I am about to start working with the defense ministry department in the UK engineering field, my q is it allowed for me to work there even though ....

Subjects: Ministry of Defence; Public utilities

Journal Articles

La dimension ecologique en economie Islamique

By: Traouli, Khalid. Etudes en Economie Islamique. Vol. 2, no. 2 (Apr. 2002), pp.1-19, 19 p.

Subjects: Economic aspects; Environmental aspects; Islamic economics; Islamic jurisprudence; Production

Fatawa

Transactions of conventional and Islamic banks in Egypt

Question: Al Salam Alaykum I’ve read about considering banks interest as Reba. And I’m asking you to give me clear vision on this issue that would help me to make the right decision InShaAllah. Banks in Egypt claims to give varying ....

Subjects: Banks; Islamic Banks; Transactions; Usury

Fatawa

Signing credit cards’ contract and using it : use of credit cards and their different transactions

Question: المعاملات باستخدام كارد الفيزا في الشراء و هل هو نوع من الربا لأنني أريد أن أطهر معاملاتي من الربا بعد أن هداني الله و أريد أن أوضح لسيادته أن المعاملات تتم على النحو 1-الشراء من المحلات التجارية 2-سحب مبالغ مالية ....

Subjects: Credit cards; Financial transactions; Installment sales; Islamic Banks; Purchasing

Fatawa

Using earned interest in payment of a house : using earned interest in partial payment of price of purchased house

Question: Assalamu Alaikum. Please advise me on the following. I have purchased a home with my savings and did not engage in mortgage. However, I accrued interest in my savings account and I did not separate the interest from the money ....

Subjects: Housing; Islamic jurisprudence; Prices; Purchasing; Wages

Fatawa

Is insurance permissible ? Life, car, health, property, hazards, shipping, etc. : life and property insurances

Question: Can u give some information on : 1. Life insurance to cover mortgage, 2. House contents insurance to cover loss and theft, 3. Building insurance to cover loss, damage etc. what is the Islamic stance on these issues given that ....

Subjects: Life insurance; Property

Fatawa

Alternatives to interest : alternative to interest in micro-credit financing

Question: First let me introduce myself Am MSc Economics from International Islamic University, Islamabad. I have been working with Islamic Relief (UK) All the mailing am doing is Unofficial, should not be quoted anywhere Am a part of Neelum valley integrated ....

Subjects: Bank loans; Islamic jurisprudence; Microfinance; Usury

Fatawa

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

Question: I took a loan to continue on what I saved from money to buy a car. When I took this loan from the bank I was not aware that loans are only legal and allowed for essential purposes. Do you ....

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

Fatawa

Interest loan to start a business : interest loan to start a business : [1]

Question: I am a father of four under the age of ten living in a Western non-Muslim society. Just recently, I lost my job. My employment chances in this country, given my qualifications and my age, and the negative atmosphere towards ....

Subjects: Business; Islamic jurisprudence; Loans; Usury

Fatawa

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

Question: Assalaamu alaikum. The ruling that I have heard concerning taking car insurance is that it is not in general permissible. However in lands such as mine where driving without insurance will lead to prosecution and license suspensions I have heard ....

Subjects: Vehicles

Fatawa

Inflation in the Islamic system : can inflation happen under an Islamic system ?

Question: As Salamu Alaikum my question is about interest (Riba). Suppose if I give loan of some amount to someone, who returns the same amount of money in two years or more, now the amount I gave him has now depreciated ....

Subjects: Inflation (Finance); Loans; Usury

Fatawa

Non-interest charges of credit cards : exchange rate in credit cards transactions

Question: As Salaamu Alaikum. When you buy a product from another country, this obviously involves a different currency. Credit cards allow you to buy in another currency and charge you a "foreign exchange transaction fee" in addition to the corresponding monetary ....

Subjects: Administrative fees; Commissions; Credit cards; Exchange rates

Fatawa

Distribution of estate : last will must distribute according to the shari’ah

Question: Assalamu Alaikum : Sub : wealth distribution among spouse and children i have one wife, 5 daughters and 2 sons. And going to write my will and making a trust for protection. 1) What is the % is for wife, ....

Subjects: Heirs; Income distribution; Inheritance; Real property

Fatawa

Working in firms that produces sells prohibited items as main line of business : selling prohibited products

Question: A close Muslim brother of mine recently returned from overseas he left his current job to bring his wife and child to live with him in the United States. His former job has been filled and he is having trouble ....

Subjects: Alcoholic beverages; Islamic jurisprudence; Sales

Fatawa

Prohibition of Riba and its rationale : Riba and inflation

Question: Assalamu Alaikum my question is about interest (Riba). Suppose I give loan of some amount to someone, who returns the same amount of money in two years or more, now the amount I gave him has now depreciated in value, ....

Subjects: Inflation (Finance); Usury

Fatawa

Transactions confused with interest : foreign currency credit cards transaction fee, is it Riba ?

Question: Assalamu Alaikum. When you buy a product from another country ; this obviously involves a different currency. Credit cards allow you to buy in another currency and charge you a "foreign exchange transaction fee" in addition to the corresponding monetary ....

Subjects: Administrative fees; Credit cards; Foreign exchange; Islamic jurisprudence; Usury

Fatawa

Transactions confused with interest : interest and extra repayment of loan

Question: I would like to discuss a matter with you, one of my friend asked money from me and offered to pay me something more than what I will give him, by himself. As I had no intention of asking him ....

Subjects: Debt repayment; Islamic jurisprudence; Loans; Transactions; Usury

Fatawa

Working in conventional banks : working in a bank : [6]

Question: Assalamu Alaikum, Please I want to ask about the position of a Muslim working in an interest based bank such as the ones we have in Nigeria. Some Malams said that "since it is a necessity there is no problem ....

Subjects: Banks; Labour

Fatawa

Is insurance permissible ? Life, car, health, property, hazards, shipping, etc. : accident insurance offered by credit cards

Question: Dear Sirs, I'm asking about insurance, because I have a credit card, they but extra fees on my account as an insurance against accidents. I can cancel this service but I want to know is this insurance right or wrong ....

Subjects: Accidents; Credit cards

Fatawa

Is interest a compensation for inflation ? : is the prohibition of Riba affected by inflation

Question: My question to you is related to Riba. Some people claim that Islam has prohibited Riba not interest. They differentiate it buy saying that interest is charged on normal market and inflation rate on the other hand what Islam has ....

Subjects: Inflation (Finance); Loans; Usury

Fatawa

Dividends, bonuses, rewards and accidental insurance of credit cards : accidental insurance offered by credit cards

Question: Dear Sr, I'm asking about insurance, because I have a credit card, they put extra fees on my account as an insurance against accidents. I can cancel this service but I want to know is this insurance right or wrong ....

Subjects: Credit cards

Fatawa

Working innocent jobs in the proximity of doubtful jobs : selling discount cards and soliciting membership

Question: Assalamu Alaikum is it okay to work with an organization where you become a member by paying a member fee and then receive two things in return 1-Discounts from shops 2-Income as an effort you make in bringing more members ....

Subjects: Discount; Islamic jurisprudence

Fatawa

Studying and working in the other financial firms and the financial sector : mortgage broker

Question: Assalamu Alaikum Wa Rahmatullahi Wa Barakatuh !!! I am a recent revert to Islam. Recently, I have begun working as a mortgage broker. (Finding loans for home buyers) I don't work directly for the lenders however I get paid based ....

Subjects: Brokers; Islamic jurisprudence; Subprime mortgage; Usury

Fatawa

Prohibition of Riba and its rationale : proper concept of Riba : Is Riba different from interest ?

Question: My question to you is related to Riba. Some people claim that Islam has prohibited Riba not interest. They differentiate it buy saying that interest is charged on normal market and inflation rate, on the other hand what Islam has ....

Subjects: Usury

Fatawa

Interest-based loans to run or save business : interest in business

Question: could you please let me know the calculation of Zakah in the modern context to include properties on rentals / leases, stocks and shares, business incomes, mutual funds, etc-in short an ideal Zakah calculator 2) Please clarify the situation with ....

Subjects: Business; Islamic jurisprudence; Usury

Fatawa

Working in the mortgage system : working as a mortgage broker

Question: Assalamu Alaikum Wa Rahmatullahi Wa Barakatuh !!! I am a recent revert to Islam. Recently, I have begun working as a mortgage broker, (finding loans for home buyers) I don't work directly for the lenders however I get paid based ....

Subjects: Contracts; Dwellings; Financing; Islamic jurisprudence; Loans

Fatawa

Interest-based deposits in the Muslim countries

Question: I live in a Muslim country. I have kept my savings in that particular category of accounts on which interest is not paid. However i rarely draw any money, as i am saving it for some future plan. The question ....

Subjects: Usury

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