e-Marefa DataBank for Islamic Economics and Finance

Question: What is the difference between interest and a late fee ?.

Subjects: Administrative fees; Commissions; Islamic jurisprudence; Usury

Question: As-Salam `Alaykum !I wanted to ask you that if a person's savings is based on salary then what would be the Zakah.If on 1st Ramadan he has 1000 dollars and saves 500 dollars every month and reaches to 7000 savings ....

Subjects: Alms tax; Islamic jurisprudence; Savings

Question: As-Salam `Alaykum !I had a question regarding interest transactions. Did Allah SWT prohibit all interest transactions in general or only those where money or land is multiplied in double triple which leaves too much burden on the people ? Also ....

Subjects: Islamic jurisprudence; Usury

Question: Is bill discounting, negotiation with bank permissible ?.

Subjects: Discount; Islamic jurisprudence

Question: As-Salam `Alaykum brother, I have a 1 / 2 brother from my father. When my father died his pension passed to my mother. Does my brother have a right to share in the pension ? Jazakum Allahu Khairan !.

Subjects: Inheritance; Islamic jurisprudence; Pensions

Question: As-Salam `Alaykum Sir,In Pakistan, cars are issued on lease. I want a Fatwa on it ? I hope you will understand after following example. If the price of car is, for instance, 6,00,000 rupees but the bank gives you some ....

Subjects: Automobiles; Islamic jurisprudence; ٌLeasing

Question: As-Salam `Alaykum ! Can we trade gold (futures / options) in the commodities market ? I came across a Hadith of our Prophet (peace be upon him) that 6 commodities must be exchanged “like for like” and gold is one ....

Subjects: Gold; Islamic jurisprudence; Purchasing; Sales

Question: Dear Dr. Kahf, As-Salam `Alaykum.I have 3 questions :1. I am working for an export organization. Due to US Dollar weakening against major currencies, is it permissible to hedge the exchange loss on our Dollar receivables by taking forward / ....

Subjects: Hedge (Finance); Islamic jurisprudence

Question: As-Salam `Alaykum ! Some brothers sometimes ask me to give them my mobile to use, or to take my car for some time... I never refuse them, but among them are some people whom I don't know well. Can I refuse them ?.

Subjects: Islamic jurisprudence; Usury

Question: Salam ! I want to rent my villa for rest, to make there billiards, swimming pool. It is sure, that some of the guests will drink alcohol there, smoke... Is it allowed ?.

Subjects: Islamic jurisprudence; Real estate Investments

Question: As-Salam `Alaykum ! Is it allowed to borrow money to someone, if I borrowed him my money before, but he still did not pay them back to me, and he's not the one in need ?.

Subjects: Loans

Question: As-Salam `Alaykum. How do we pay Zakah on assets? We have 7 trucks and 2 excavators. Presently only 2 of the trucks and 1 excavator are working. Only 3 trucks have been paid for in full none of which has ....

Subjects: Alms tax; Foundations of Islamic jurisprudence; Islamic jurisprudence

Question: Is boycotting products of countries where some of their newspapers published offensive cartoons to the Prophet (peace and blessings be upon him) considered Jihad or some sort of cooperation on goodness and piety ?.

Subjects: Economic sanctions

Question: As-Salam ‘Alaykum, dear respected scholar, my husband and I are wondering what the Fatwa is regarding having life insurance and / or disability insurance ?Jazakum Allahu Khairan..

Subjects: Life insurance

Question: As-Salam `Alaykum. I have 3 children, and in order to provide for family I work as a guard, and 3 days in a week I don't sleep at night. I feel my health becomes worse. Is it Haram for me to work there ?.

Subjects: Bodyguards; Labour

Question: My question relates to credit cards and their usage. I am aware that use of credit cards is permissible so long as I ensure that I pay the total amount due and do not default on payment, thereby activating the ....

Subjects: Credit cards

Question: As-Salam `Alaykum !In the US we have the Islamic mortgage companies that claim their co-ownership programs to be Halal. In this program you must pay mortgage payment that is interest free, but you must also pay co-ownership fee and fair ....

Subjects: Housing

Question: Asalamu AlaykumI want one clarification that I'm a student of finance in Pakistan. Currently I have an opportunity of job in a leasing company in the Internal Audit department which is not directly linked to leasing business. My question is, ....

Subjects: Corporations; Labour; Usury

Question: Asalam-u-AlaykumI want one clarification that I'm a student of finance in Pakistan. Currently I have an opportunity of job in a leasing company in the Internal Audit department which is not directly linked to leasing business. My question is, whether ....

Question: Dear Respected ScholarI am a Computer Engineering graduate and a Senior Software Engineer by profession. I am working for a company which is developing Software which could be used to analyze the Stock Market prices and do trading in the ....

Question: Assalamu Alaykum,I have a commercial building that I rent. The people who rent my building sell alcohol and lottery. At the time I rented to them I was far away from Islam. Alhamdulillah I am practicing Muslimah now. The rent ....

Subjects: Contracts; Provisions of sharia; Real estate Investments; ٌLeasing

Question: Assalamu Alaykum.Dear Sir please clarify can we use credit cards ?.

Subjects: Credit cards; Islamic Banks

Question: SalamsDear Dr., pls. reply this question, which we received in ask the scholar page :Since two years, my husband and I, we have stopped all interest transactions of every kind, whether bank or mutual fund or whatever and deal only ....

Subjects: Islamic jurisprudence; Repentence; Usury

Question: Assalamu Alaykum,We live in Europe, can we, please get the answer about credit in bank, there is no Islamic bank here, we don`t have a choice. Can we take credit for apartment, car or to start our own business.Thank you very much..

Subjects: Bank loans; Banks; Financing

Question: Asallamu Alakom,Dear Sir,My question is : an example,A person took a flat by rent, of amount of 20000us $, for 1 year and he is transferring his flat to my name, and he want 3000 $ key money from me, ....

Subjects: Contracts; Islamic jurisprudence; Payments; Rent

Question: Assalamu Alaykum wa Rahmatullahi wa Barakatuh.Dear Dr. Kahf,First of all, I have visited your website and would like to thank you for the great effort and the immense benefit that your work has on Muslims around the world.I live in ....

Question: Asalamu Alaykum,I hope when this letter reaches you and your family is in good health. I bought a house couple years back with conventional mortgage ; before I buy it, I have researched about this issue I have asked many ....

Subjects: Financing; Housing

Question: Dearest Dr. As-Salamu AlaykumPls. answer this question. The man is speaking on Riba :On September 17, 2007, Imam Abdu Rahman Bin Mohammad al-Harbi (our local Imam) talked about "Riba" (usury) and warned the Muslims about the gravity of this sin. ....

Subjects: Banks; Interest; Islamic Banks; Islamic jurisprudence; Usury

Question: My question is that I am serving in government department and my department is subscribing / deducting provident fund which is compulsory. Please tell me that profit on this provident fund is Halal or otherwise ? It is further added ....

Subjects: Employees; Pensions; Public sector; Savings

Question: SALAMSCould you please reply this question, we got in our Hajj and Umrah page ?Is it allowed to pay for your haj by credit card ?Thanks, Wael.

Subjects: Credit cards

Question: [Question One] :Dear Dr. Monzer KahfAssalamu Alaykum Wa Rahmatullah Wa BarakatuhI am from Sri Lanka and yes there are Islamic banks here but I need to get a loan where the period extend to say about 15 to 17 years ....

Subjects: Islamic Banks; Loans; Management

Question: Respected scholars, As-Salam `Alaykum. I have a question regarding Lottery !We have some banks in our country that make an account by name of portion (Qismat) or luck (Nasib). The bank saves the money for its users and user can ....

Subjects: Awards; Contests

Question: Respected scholars, as-Salamu `Alaykum. I have a question regarding Lottery ! We have some banks in our country that make an account by name of portion(Qismat) or luck (Nasib). The bank save the money for its users and user can ....

Subjects: Awards; Bank accounts; Bank deposits

Question: أخي الكريمالسلام عليكم .......للمرة الثانية و للضرورة حيث أعلم التزاماتكم الكبيرة و لكن لا أرجع إليكم إلا عند الأمور الهامة. أنا تاجر لأجهزة الكومبيوتر من دبي إلى ليبيا و أعمل بأموال الأهل و الأحباب بنسبة الربح و الخسارة و نظرا ....

Subjects: Contracts; Islamic jurisprudence; Sales

Donor award: Iran

Subjects: Banks; Commercial law; Financial institutions; Insurance; Profits

Question: Assalamu Alaykum,I want to know why Islamic bank wear a title as a Shari’ah Based. One of my friend got loan from Islamic bank, if he is not able to pay the debt within 45 days. He must pay FINE. ....

Subjects: Commercial finance companies; Costs

Question: [Question one] :Salaam,I live in the UK, originally from Bangladesh.May I use interest obtained from savings in UK banks to pay bribes to officials in Bangladesh to perform their task / duties (to do their job). Without bribes, it is ....

Subjects: Bribery; Islamic jurisprudence; Money; Payments; Usury

Question: Assalamu Alaikum,I am trying to purchase a car without paying interest. A dealer that I am interested in purchasing from doesn't have any 0 % interest financing at this time but has given me the following option. He would determine ....

Subjects: Automobiles; Islamic jurisprudence; Purchasing; Usury

Donor award: Mashreq al-Islami (Dubai, United Arab Emirates). Sharia'h Supervisory Board

Subjects: Capital; Contracts; Resale on profit

Donor award: Mashreq al-Islami (Dubai, United Arab Emirates). Sharia'h Supervisory Board

Subjects: Accounts; Contracts; Investments; Islamic jurisprudence; Speculation

By: Badr, Muhammad Khalid I.; Muhammad, Shamshir; Hasan, Tawfiq…[et al.]. Islamic Economic Studies. Vol. 15, no. 2 (Jan. 2008), pp.23-76, 54 p.

Subjects: Banks; Accounting; Cost control; Islam; Profits

By: Iqbal, Zamir. Islamic Economic Studies. Vol. 15, no. 2 (Jan. 2008), pp.79-103, 25 p.

Subjects: Banks; Financial institutions; Financial markets; Financing; Islam

By: al-Amini, Muhammad al-Bashir Muhammad. Islamic Economic Studies. Vol. 15, no. 2 (Jan. 2008), pp.1-22, 22 p.

Subjects: Economics; Financing; Islam; Speculation; ٌLeasing

Question: Assalamu Alaykum. Is it acceptable to receive donation from non-Muslim and people who earn from interest, to build mosque and other social service ?Jazakum Allahu Khairan for your constant helpYours, Sami.

Subjects: Dhimmies; Donations; Islamic jurisprudence; Usury

Question: I have a question regarding Riba. Why does Quran everywhere when it talks of Riba, states about taking interest, not giving ?.

Subjects: Islamic jurisprudence; The holy koran; Usury

Question: Dear Dr. Monzer,Assalamu Alaykum Wa Rahmatullahi Wa Barakatuh,Is it acceptable to receive donation from non-Muslim and people who earn from interest, to build mosque and other social service.Assalamu AlaykumJazakum Allahu Khairan for your constant help.

Subjects: Donations; Islamic jurisprudence; Usury

Question: Dear Dr. Monzer,Assalamu Alaykum Wa Rahmatullahi Wa Barakatuh,Dear Sir, I have couple of questions about my income from bank job and my career. I am working in a Bank from the last couple of years and from the last 4 ....

Question: Assalamu Alaykum Wa Rahmatullahi Wa Barakatuh,Dear Sir, I have couple of questions about my income from bank job and my Career. I am working in a bank from the last couple of years and from the last 4 or 5 ....

Question: Salaam Alaykum I would like to know if it is permissible for us, living in Europe to buy a house ? Do we have to rent a house and pay each month a price, of buy it with interest ?Naim.

Subjects: Purchasing; Real property

Question: Assalam Alakum, I really appreciate your help by answering this question.1 : I invested with a group of doctors in a hospital, where initially they gave me the impression that no bank loans will be used, however after about a ....

Subjects: Bank loans; Islamic jurisprudence; Medical instruments and apparatus; Purchasing