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   (2501 - 2550 of 16494)
Fatawa

Financing when you don’t have Islamic banks

Question: Dear Sheik, we're living in an economy that runs through the function of interests. We don't have an Islamic bank in this country yet. Although we have some Islamic institutions assisting us to acquire a house through what they called ....

Subjects: Usury

Fatawa

What is the alternative to the interest-based banking system ?

Question: Assalamu Alaikum. I am facing some queries with presently available BANK interest. All these are :1) Is the present Banking system ok in respect to Islamic Jurisprudence ?2) If we say present Bank-interest is Haram, we have to think about ....

Subjects: Islamic Banks; Usury

Fatawa

Signing credit cards’ contract and using it : using a credit and debit card with avoidance of generating any interest

Question: Assalamu Alaikum dear brother, I have and use a check card, which is a debit card, and most of my transactions are done through it. However, wanting to avoid Riba (usury) there is a small none fixed fee, interest, that ....

Subjects: Administrative fees; Credit cards; Islamic jurisprudence; Money; Usury

Fatawa

Sale with conditions in the contract : barter exchange

Question: Assalau Alaikum, I have a question regarding the view of Islam about barters (exchanging a product for another) i.e., I am thinking of trading my car for another, key-for-key, with no money being exchanged. Jazakum Allah Khair Majid.

Subjects: Contracts; Islamic jurisprudence; Sales

Fatawa

Is insurance permissible ? Life, car, health, property, hazards, shipping, etc. : free life insurance as an employment fringe benefit

Question: I live in the US. My employer gives me life insurance without a fee (as an added benefit). Do I have to follow Islamic laws of inheritance when I figure out the beneficiaries of the policy ?.

Subjects: Employers; Employment; Insurance; Islamic jurisprudence; Wergild

Fatawa

Promotional prizes with or without purchased tickets : promotional prizes, are they gambling ?

Question: I was looking at a website for Islamic investing and noticed that they are having a promotion where one can win an Umrah trip for 2. Isn't this like gambling and therefore Haram ? If not, please explain the difference ....

Subjects: Airlines; Gambling; Marketing; Purchasing; Tickets

Fatawa

Fulfilment of existing contractual obligations to pay interest : paying interest and principal on already contracted loans

Question: Bismillah Er Rahman Er Rahim. Assalamu Alaikum Wa Rahmatullahi Wa Barakatuh. 1) I incurred a debt from a Riba based loan during my university studies in excess of 11, 500 USD and also from a credit card that has Riba ....

Subjects: Banks; Debt repayment; Education; Islamic jurisprudence; Students

Fatawa

Examples of lack of justifying needs : buying a house to grab an opportunity

Question: Assalamu Alaikum, I am currently living in the UK and I am planning to go and work in Saudi Arabia in the near future but before I go there I want to buy the house I am living in because ....

Subjects: Housing; Islamic jurisprudence; Purchasing

Fatawa

Working innocent jobs in the proximity of doubtful jobs : is joining trade unions permissible ?

Question: Assalamu Alaikum, I work for a very large corporation and I want to know, is it permissible to join a trade union in the work place as I have four reservations ? (1) Trade unions tend to be very socialist ....

Subjects: Alcoholic beverages; Islamic jurisprudence

Fatawa

Joining hands with others : joining trade unions

Question: Assalamu Alaikum, I work for a very large corporation and I want to know, is it permissible to join a trade union in the work place as I have four reservations ? (1) Trade unions tend to be very socialist ....

Subjects: Commerce; Islamic jurisprudence; Labour unions

Fatawa

Borrowing on interest from own 401 k account : borrowing from 401 K

Question: Assalamu Alaikum In Sha Allah this e-mail reach you in highest degree of Iman. I would like to know is it Halal, if I borrow some money from 401 K plan, and when I return my own money to my ....

Subjects: Islamic jurisprudence; Loans; Usury

Fatawa

Interest-based loans to run or save business : borrowing to run business

Question: Assalamu Alaikum If a person needs money to run his business. He does not have any other source of borrowing the money. So he can take the money on interest. If he does not take the money or borrow the ....

Subjects: Business; Loans

Fatawa

Avoiding taxes by using the system’s loopholes : getting cash payment to avoid income taxes

Question: As-Salam 'Alaykum Wa Rahmatu Allah, I want to thank the Sheikh that takes time to provides us with answers. And I hope In Sha Allah that Allah (SWT) will grant you paradise. I have a Q concerning taxes that the ....

Subjects: Income tax; Islamic jurisprudence; Payments

Fatawa

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

Question: Dear Shaikh Assalamu Alaikum Wa Rahmatullah Wa BarakatuhIn fact I just started working at a financial company and a lot of things came to my concern, but mainly two things and they are as follow : 1. Is life insurance ....

Subjects: Insurance policies; Islamic jurisprudence; Life insurance

Fatawa

Working in companies that sometimes deal in interest : working in a store affiliated with a company that deals in Riba

Question: Assalamu Alaykum, I work in retail store which is part of federated company. Other part of this company does finance that is involves in Riba. Is my earning gets any kind of Haram portion of this company ? Jazakumullah.Notes : ....

Subjects: Corporations; Islamic jurisprudence; Usury

Fatawa

Financing house purchase in the west : buying a house in Europe

Question: Asalamou Alaikoum, I know that Riba is Haram, but in European countries, Imams said that you can for example buy a house with Riba for personal use that means when you buy a house, you cannot rent a part of your house (apartment)...Jazak Allah..

Subjects: Europe; Housing; Islamic jurisprudence; Purchasing

Fatawa

Financing house purchase in the west : buying homes in Canada : [1]

Question: Al Salam Alaikum : this is a brother living in Canada. I have a question that mostMuslims in non-Muslim countries have trouble with. I have been married for two and a half years. My dream with my wife is to ....

Subjects: Dwellings; Financing; Islamic jurisprudence; Purchasing

Fatawa

Buying share, stocks and mutual funds : investing in the stock market

Question: In the name of Allah, most gracious, most merciful. All praise and thanks are due to Allah, and peace and blessings be upon his messenger. Dear brother in Islam, I wish to ask a few questions : 1. I want ....

Subjects: Financial markets; Investments

Fatawa

Working in companies that sometimes deal in interest : work in a company that deals with interest

Question: Assalamualaikum, I am not sure about a few things all having to do with Interest, I live in Canada and am planning to work here after I graduate from university, and from what I see and understand is that most ....

Subjects: Corporations; Islamic jurisprudence; Usury

Fatawa

Examples of lack of justifying needs : buying a residence in Sidney by a person living in Indonesia

Question: In the name of Allah, most gracious, most merciful. All praise and thanks are due to Allah, and peace and blessings be upon his messenger. Dear brother in Islam, I wish to ask a few questions : 1. I want ....

Subjects: Indonesia; Islamic jurisprudence; Purchasing

Fatawa

Can earned interest be used to pay credit card’s interest ? : using earned interest for paying interest charged on credit cards

Question: Salamo Alikom. I live temporarily in the United States, and I save my money in a bank, where they add APR to my saving account each three months. I also sometimes use the credit card and they charge me interest. ....

Subjects: Administrative fees; Credit cards; Islamic jurisprudence; Payments; Usury

Fatawa

Working in network marketing with pyramid commissions : networking with pyramid type commissions

Question: As-Salamu-Alaikum,Lately I was introduced to business (internet based). The business portal is a website called as "www.quixtar.com". The business works like this : a person would register and become an independent business owner. When he buys stuff (products) from the ....

Subjects: Business; Islamic jurisprudence; Network marketing

Fatawa

Financing house purchase in the west : should we sacrifice and pay rent ?

Question: Assalamu Alaikum,Dear Dr,If it’s ok to buy a property on interest based mortgage, in what situation is Riba Haram ?Shouldn't we not take Riba or at least discourage Riba ; as our sacrifice in this life (by paying rent instead ....

Subjects: Islamic jurisprudence; Purchasing; Real property; Subprime mortgage; Usury

Fatawa

Gifts to children and their receprocal love : lack of love to parents

Question: Alsalam AlikomMy parents are relatively wealthy, but they do not treat me like my sister and my two brothers because God gave me money and high education with a good position. I got married but they did not spent any ....

Subjects: Children; Endowments; Filial piety; Islamic jurisprudence

Fatawa

Non-interest charges of credit cards : the charge for cash withdrawal from machines

Question: In European countries, you can get the so-called Visa or Master card. It can be used for paying in shops, but if it's used to withdraw money from cash points, there would be a charge of 1.5 % (i.e. when ....

Subjects: Banking services; Credit cards

Fatawa

Transactions confused with interest : renting a spot to a conventional bank for ATM

Question: I am a businessman situated in India. I have recently constructed a small building for commercial purposes which I intend to rent / lease out to some good company / firms. I have been approached by Citibank and American Express ....

Subjects: Automated tellers; Banks; Islamic jurisprudence; Rent

Fatawa

Betrayal of trust

Question: Assalamu Alaykum, I've been entrusted with some money by a brother, which he told me to look after it while he was indisposed (he gave it to me to look after it). He told me to invest it if I ....

Subjects: Confidence; Islamic jurisprudence; Treason

Fatawa

How do Islamic banks work and make profit ?

Question: Assalamu Alaikum. I have a question about the Islamic banking system. I was reading about an Islamic bank in my area that gives loans for houses and cars yet they don’t ask for any interest in return. And the savings ....

Subjects: Financing; Islamic Banks; Profits

Fatawa

Working in companies that sometimes deal in interest : work as a financial controller in a company

Question: Is it permitted to work as a financial controller in a company, which has a (Halal) core business ? What is confusing me is that even if the company's core business is Halal, however, part of the financial controller duties ....

Subjects: Accounting; Corporations; Finance; Islamic jurisprudence; Management

Fatawa

Waqf and estate planning

Question: Has anyone done work on estate planning in the USA. This would include preparing legal documents on inheritance and use of money. I am aware of the Islamic will prepared by ISNA which does not get into legal advices or ....

Subjects: Estate planning; Waqf

Fatawa

Sale of gold, silver and currencies, the conditions of sarf : gold quest multi-layer sale and commissions

Question: I've been involved in a company called qold quest. What it does is selling a golden coin to their customers with about $ 400 which is half the price of the coin, then I work as seller for that company ....

Subjects: Banks; Gold; Islamic jurisprudence; Sales; Silver

Fatawa

Buying share, stocks and mutual funds : limited mutual funds choice of 401 K

Question: Assalamu AlaikumI work for a corporation which offers a 401 K. I only have 9 mutual funds to choose from and one option which pays a fixed rate of interest.1. If I put money into the fixed account, could I ....

Subjects: Financial markets; Islamic jurisprudence; Mutual funds

Fatawa

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

Question: Why is investing in the stock exchange allowed in Islam but gambling is not ?.

Subjects: Gambling; Investments; Islamic jurisprudence; Stocks

Fatawa

Interest loans to buy other goods : getting clinical equipment on an interest loan

Question: I would like to build a clinic in a Muslim country. I don't have enough money to buy essential equipments and the only way to do that is to take a mortgage within the same country and I have to ....

Subjects: Islamic jurisprudence; Loans; Medical instruments and apparatus; Usury

Fatawa

Transactions confused with interest : free overdrafts, are they permissible ?

Question: It is the practice of many of the banks in my country to offer an interest free overdraft to students as an incentive to open a bank account with them. Could you advise as to what the position of the ....

Subjects: Bank accounts; Overdrafts

Fatawa

Nterest-based financing of house and car is prohibited : what if the Islamic financing is more expensive ?

Question: General, short : someone may say that Riba was prohibited to prevent usurping of the poor by the rich. If the claimed "Islamic" solutions to home financing are much more expensive than mortgage, wouldn't that be against the wisdom of ....

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

Journal Articles

Venture capital : a potential model of musharakah

By: al-Suwaylim, Sami Bin Ibrahim; Kia, Amir. Journal of King Abdulaziz University : Islamic Economics. Vol. 13, no. 1 (Dec. 2001), pp.61-62, 2 p.

Subjects: Banks; Islamic jurisprudence; Financial markets; Financing; Islam

Journal Articles

Speculative activities, efficiency and normative stock exchange

By: Kia, Amir. Journal of King Abdulaziz University : Islamic Economics. Vol. 13, no. 1 (Dec. 2001), pp.31-49, 19 p.

Subjects: Banks; Foundations of Islamic jurisprudence; Investments; Prices; Islam

Journal Articles

An empirical evaluation of the implementation of the bonus-mauls system in the Tunisian automobile insurance ratemaking

By: Ghali, Olfa N.. Economic Research Forum : Working Paper Series. No. 101-140 (Dec. 2001), 20 p.

Subjects: Insurance; Islamic jurisprudence; Tunisia; Vehicles

Book

Exchange rate stability : theory and policie from an Islamic perspective

By: Ahmad, Habib. Islamic Development Bank (IDB), Islamic Research and Training Institute (IRTI),; 31-December -2001; , 48 p.

Subjects: Exchange rates; Fiscal stability; Islamic economics

Book

Risk management : an analysis of issues in Islamic financial industry

By: Khan, Tariq Allah; Ahmad, Habib. Islamic Development Bank (IDB), Islamic Research and Training Institute (IRTI),; 31-December -2001; pp.1-185, 185 p.

Subjects: Financial institutions; Islamic jurisprudence; Investments; Islam; Management

Book

Islamic banking : answers to some frequently asked questions

By: al-Jarhi, Mabid Ali Muhammad Mahmud; Iqbal, Munawwir. Islamic Development Bank (IDB), Islamic Research and Training Institute (IRTI),; 31-December -2001; pp.1-77, 77 p.

Subjects: Islam; Islamic jurisprudence; Questions and answers; Ruling in Islam; ٌLeasing

Book

Land ownership in Islam : a survey

By: Gulaid, Mahmud A.. Islamic Development Bank (IDB), Islamic Research and Training Institute (IRTI),; 31-December -2001; pp.1-56, 56 p.

Subjects: Agricultural land; Alms tax; Earth (Planet); Possession (Law)

Book

Islamic financial instruments to manage short-term excess liquidity

By: Ahmad, Uthman Babakr. Islamic Development Bank (IDB), Islamic Research and Training Institute (IRTI),; 31-December -2001; , 95 p.

Subjects: Bonds; Derivative securities; Financing; Investments; Markets

Book

Islamic equity funds the mode of resource mobilization and placement

By: Ahmad, Uthman Babakr. Islamic Development Bank (IDB), Islamic Research and Training Institute (IRTI),; 31-December -2001; , 60 p.

Subjects: Islamic Banks; Money; Stocks

Fatawa

Nterest-based financing of house and car is prohibited : buying mortgaged debts at discount

Question: Assalamu Alaikum Wa Rahmatullahi Wa BarakatuhDearest Shaikh Monzer,My name is Musab and I write to you from Tampa, Florida. InShaAllah you receive this letter and you and your family are all in good health and Iman.Recently, I was introduced to ....

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

Fatawa

Distribution of estate : distribution of estate and custody of children

Question: Assalamu Alaikum I have a few questions. I did look through the Fatwa bank but did not find answers to my questions there. 1-I understand the division of property when a man dies and leaves parents, children and a wife. ....

Subjects: Children; Incubation; Inheritance; Real property

Fatawa

Sale with conditions in the contract : Is it permissible for sale of merchandise to use a website or market place of a company that deal with interest ?

Question: Bismialah Arahman Araheim, Asalamu Alaikum Wa Rahmatulahi Wa Barakatuh, I recently began selling things on eBay, an internet auction site(http://www.ebay.com). None of the transactions I make involve interest. I do not accept any nor pay with any. I do not ....

Subjects: Auctions; Contracts; Electronic commerce; Islamic jurisprudence; Sales

Fatawa

Using property bought with interest for prayers and other usages : using equity built through a conventional mortgage

Question: Assalamu Alaikum, here is the situation : 2 years ago I financed a house with interest. I recently found out that I can go through the Islamic bank. The Islamic bank requires 20 % down of the value of the ....

Subjects: Architecture; Contracts; Islamic jurisprudence; Property; Stocks

Fatawa

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

Question: Can we have car insurance for all the risks, or just the obligatory car insurance ?.

Subjects: Insurance; Islamic jurisprudence; Risk management; Vehicles

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