e-Marefa DataBank for Islamic Economics and Finance

Question: A company issues Sukuk Mudarabah utilizing funds from investors on a continuing basis. Funds are invested in Shariah compliant activities and the profit is distributed annually between the company and Sukukholders as per the agreed ratio. The company also undertakes ....

Question: Asalamo Alaikom. Jazaka-Allah Kair for your effortsI have been receiving job opportunities from http://www.libnat.com/ "We are looking for sales and customer service representatives.Additionally, if you have management experience I would like to talk to you about our manager in training ....

Question: A customer has sought a financing facility from an Islamic bank in order to procure a running commercial property from a third-party seller. Since the commercial property may have various types of businesses, Shariah guidance is required on how to ....

Question: A brother estimates 3 years of under declared taxes and has no cash or funds or Job to be able to make up the missed payment. He also has some unsecured debt which he is unable to pay. He ....

Subjects: Debt repayment; Debts; Islamic jurisprudence

Question: HMRC have made a law against disguised employees in (April 2000) who are operating under a Ltd company. This law is called IR 35. The problem is no matter how safe you think you are if case goes to court ....

Subjects: Insurance; Islamic jurisprudence; Tax evasion

Question: HMRC have made a law against disguised employees in (April 2000) who are operating under a Ltd company. This law is called IR 35. The problem is no matter how safe you think you are if case goes to court ....

Subjects: Insurance; Islamic jurisprudence; Taxes

Question: Alhamdulillah my family has kept away from bank loans and mortgages due to interest involvements but as everyone knows house is a necessasity so some scholars do say one can compromise on interest issues when it comes to buying one ....

Subjects: Housing; Islamic jurisprudence; Loans; Ownership; Subprime mortgage

Question: Are we allowed to use credit union deposit schemes since they offer dividend instead of interest and it’s a very small amount. 1 % or 2 % dividend is offered on your savings annually. Please advise accordingly as dividend and ....

Subjects: Bank deposits; Bank loans; Islamic jurisprudence; Usury

Question: Are the fixed term deposit and ISA savings accounts permissible means in shariah in terms of the returns on one’s initial deposit ?.

Subjects: Bank deposits; Islamic jurisprudence; Savings accounts

Question: I would like to ask if you can work as a lorry driver who distributes all types of food to supermarket like Tesco ASDA including pork meat and alcohol drinks. So my question is in Islam can you work like ....

Subjects: Food; Islamic jurisprudence; Taboos; Transport

Question: Is it permissible to make voluntary national insurance contributions for my wife who is not in work and will not be in work for the coming years ?.

Subjects: Insurance; Islamic jurisprudence

Question: We run a business and provide broking services online for home cooks and buyers of food and take x % commission for each successful transaction. Unfortunately there are some buyers and sellers who buy and sell meals containing non Halal ....

Subjects: Banking services; Business; Financial intermediation; Islamic jurisprudence

Question: 1. Can you please confirm that Zakat is payable on rental income as well as the share of property that is owned. For example, if the annual rental income is £ 15,000 and the annual mortgage payment is £ 12,000, ....

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Subjects: Insurance; Loans

Question: Is it permissible to purchase car insurance in installments due to necessity when one cannot afford a one off payment. installments also have an added interest charge per month. For example : a one off payment will cost 1000 pounds ....

Subjects: Insurance; Islamic jurisprudence; Premiums; Vehicles

Question: Is it permissible to have a savings account for a help to buy scheme where, if u have about £ 12000 the government will give you £ 3000 ?.

Subjects: Islamic jurisprudence; Purchasing; Savings accounts

Question: I have around 8000 pounds in a fixed deposit in an Islamic bank. My money is taken for 2 years and invested in Halal things and then at the end of the two years my money is returned to me ....

Question: I would like to know what can make a pre sale purchase and assignment before ownership Halal ? in general, the model is some brother pay down payment on a property that is under construction and agree on a purchase ....

Subjects: Contracts; Sales

Question: I Am working with a US based 3rd party verification company. My job profile is do a background verification for an applicant who has applied for a job in a company in the US. For example, if a job seeker ....

Subjects: Islamic jurisprudence; Labour; United States

Question: Is working as a pensions administrator allowed in Islam ?.

Subjects: Executives; Islamic jurisprudence; Labour; Pensions

Question: My local council offers this scheme, called newham news hare. From the website it states :“An equity loan from us will make up the difference. The type of property you want to buy will decide what percentage of the cost ....

Subjects: Islamic jurisprudence; Loans; Right to property; Usury

Question: Please could you have a look at the new scheme from PayPal called ‘PayPal working capital’ and let me know if it’s permissible, i have had a few people ask me and after looking at it, the scheme looks promising, ....

Subjects: Manpower; PayPal

Question: I have a question regarding selling on Amazon. The way it works is you buy stock from a supplier of a particular good which are often abroad. You also have an Amazon warehouse (which you pay to use) where the ....

Subjects: Islamic jurisprudence; Sales; Teleshopping

Question: I was wondering how would I calculate my Zakaat on my business stock. I have a shop on eBay. When calculating the value of my assets :1. Do I calculate the market value or the sale value.2. Do I minus ....

Subjects: Alms tax; Islamic jurisprudence; Stocks

Question: Can getting paid a salary when working for a hospice be Halal ? The reception job I wish to apply is a registered charity in England funded by private companies and private sponsors but some of it comes from the ....

Subjects: Islamic jurisprudence; Labour; Wages

Question: I understand you have answered questions regarding CARE pension schemes and regard it as permissible. However the option (from network rail) I have been given states that I contribute 7 % of my pensionable salary to earn a unit of ....

Subjects: Investments; Pensions

Question: I work for BT and I am part of their saveshare scheme. I put in £ 50 every month from my wage towards the saveshare. The money is held by BT for 3 or 5 years. I do not have ....

Subjects: Alms tax; Islamic jurisprudence; Provisions of sharia; Savings accounts

Question: I want to buy a business with a Muslim friend, and I want to avoid using an interest bearing loan from the bank. My friend has studied the issue of interest and holds the opinion it is permissible in this ....

Subjects: Loans; Partnerships; Usury

Question: My father bought much land and properties overseas during his life. One particular piece of land was bought especially for my mother and he expressed this to her and there are witnesses to his statements. She accepted the gift but ....

Subjects: Endowments; Islamic jurisprudence; Land; Purchasing

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Subjects: Financing; Interdependence

Question: How and when does a UK based SIPP (self invested personal pension) begin to attract Zakat ?.

Subjects: Alms tax; Investments; Islamic jurisprudence; Wages

Question: The CARE (career average revalued earnings) is a type of defined benefit pension scheme. A defined benefit scheme guarantees a certain level of benefit at retirement, according to a fixed formula. In this respect it is similar to the current ....

Subjects: Dues; Islamic jurisprudence; Pensions

Question: I have some savings in a current account from a conventional bank that does not charge interest as far as I have been told, and just over £ 1000 saved in my saving account, that charges a minimum interest rate, ....

Subjects: Accounts current; Islamic jurisprudence; Savings

Question: We are planning to start a school in India. Our intention is to start with a conducive learning environment to our Muslim children without compromising our ethics and values, which is totally missing in non-Muslim institutions. Though the school is ....

Subjects: Income; Investments; Islamic jurisprudence; Partnerships; Stockholders

Question: I understand that with car insurance claims, one should only recoup a sum equivalent to the total paid to a particular company to date, and any excess received beyond this sum be ‘repaid’ through future premiums to that same company. ....

Subjects: Insurance; Islamic jurisprudence; Premiums; Vehicles

Question: I would like to know with regards to investing in stocks and shares more specifically on purification of the income received as a result of an investment in a company that is Sharia compliant according to your screening criteria outlined ....

Subjects: Investments; Islamic jurisprudence; Profits; Stocks

Question: I have a query regarding whether my mother has to pay Zakah on her wealth. My mother has been diagnosed with vascular dementia and the assessments by mental health professionals have concluded that she lacks mental capacity to manage her ....

Subjects: Alms tax; Disabled persons; Payments

Question: A father invested 850,000 rupees into an interest profit scheme in Pakistan in 1995 in one of his sons name. In 1995 the value of the rupees was strong. The rupees rate to the English pound was £ 1 = ....

Subjects: Islamic jurisprudence; Money; Time value of money

Question: Is it permissible for someone to give Zakat to a student to pay their uni fees, if that student does not possess Nisab, and lives at parent’s home, who pay for all living expenses. Also can people of a family ....

Subjects: Administrative fees; Alms tax; Commissions; Islamic jurisprudence

Question: I’m looking to sell via Amazon Insha’Allah. As a seller you would normally offer your customers a refund period. I heard that in Fiqh this period cannot be longer than 3 days, is this correct ? as the society norms ....

Subjects: Islamic jurisprudence; Sales

Donor award: Bank of London and the Middle East (London, United Kingdom)

Subjects: Alms tax; Auditing; Islamic jurisprudence; Stockholders; United Kingdom

Question: My dad has a shop which he has rented to a barber shop, my father had no idea if that money would be Haram, now he has given his word and that person has bought all the equipment’s for his ....

Subjects: Administrative fees; Commissions; Landlords and tenants

Question: I’m in the process of opening an Internet pharmacy and just needed clarification on which types of insurance would be permissible•Employers liability. This is a legal requirement when employing staff and is to cover them in case of personal injury ....

Subjects: Insurance; Labour

Question: I have two questions regarding inheritance and gifts :1) a family of four (mother, father and two sons) live together in one house. The father wishes to gift his house to both of his sons in his lifetime. What is ....

Subjects: Endowments; Inheritance; Islamic jurisprudence

Question: Husband (H) and wife (W) have two daughters. H and W wanted security for their daughters and the following was therefore proposed.H and W gift the property to the daughters but reserve for themselves a right to live in the ....

Subjects: Endowments; Islamic jurisprudence; Property

Question: Note from Al Qalam : Due to the length of the query, there will be no benefit to reproduce it on here. The questionnaire (US citizen) has asked regarding the permissibility of taking a health insurance in his country as ....

Subjects: Health insurance; Islamic jurisprudence; United States

Question: I’m renting a commercial shop and the contract has a clause regarding missed payments and interest etc. Can I say to ‘seller / landlord’ I will pay 10 % on the rental amount if the rent is missed by 7 ....

Subjects: Debts; Islamic jurisprudence; Payments; Rent

Question: The husband and wife both bought the house together. On average they receive £ 630 in rent every month. The wife paid a contribution towards the deposit and in total has paid about £ 30 k and the husband has ....

Subjects: Co-ownership; Islamic jurisprudence; Revenue; ٌLeasing

Question: I have £ 1000 profit worth of shares in a bank (they were acquired through the banks company share save scheme which I’m an employee in the IT department.) I also have a mortgage with the same bank. Is it ....

Subjects: Debt repayment; Islamic jurisprudence; Profits; Subprime mortgage

Question: I’ve recently started a job with a company involved in the radio industry, they mainly play music. I work as a developer, on their back end systems, such as reporting what songs were played and when, etc. And also on ....

Subjects: Islamic jurisprudence; Labour; Music