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Fatawa

Paying interest : paying interest on delinquent income tax

Question: I started a company last year. I could not pay income tax that year because it was my first year. Therefore I had to keep it in the bank. This year I will have to pay the income tax of ....

Subjects: Income tax; Payments; Usury

Fatawa

Use interest money to pay bribes, bank charges, taxes : using earned interest to pay income tax

Question: Dear Dr. Monzer,Assalamu Alaykum Wa Rahmatullahi Wa Barakatuh,I started a company last year. I could not pay income tax that year because it was my first year. Therefore I had to keep it in the bank. This year I will ....

Subjects: Income; Payments; Taxes; Usury; Wages

Journal Articles

Rhetorical twist in the Qur’an

By: Durakovic, Esad. Jordan Journal of Islamic Studies. Vol. 4, no. 1 (2008), pp.9-15, 7 p.

Subjects: Comparative analysis

Resolutions

Mashreq al-Islami Shari'ah compliant income fund

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

Subjects: Income; Islamic jurisprudence

Fatawa

Riba and installment sale : [1]

Question: Assalamu Alaikum,Dear Sir,I’m Hijaz, undergraduate, B.Sc. Accountancy, from Sri Lanka. One of my friend bought a mobile phone in installment system. Cash price of mobile Rs 19575Monthly installment Rs 1875 (1875 * 12 = 22500)Additional charge Rs 2925 (22500-19575)Period ....

Subjects: Installment sales; Usury

Fatawa

Giving earned interest to charities and others : interest earned on Riba accounts

Question: Dear Dr Monzer,Assalamu Alaykum Wa Rahmatu Allahi Wa Barakatuh,I am e-mailing you at this point in time because while flipping through your Fatwas on “Riba and interest” from 2663 I came across the following remark of yours : “interest must ....

Subjects: Bank accounts; Usury; Wages

Fatawa

Reasons behind prohibition of gambling and lottery : why is gambling prohibited ?

Question: Dear Dr. Monzer,Assalamu Alaykum Wa Rahmatullah Wa Barakatuh,Dear prominent scholar As-Salam `Alaykum Wa Rahmatullah Wa Barakatuh my question is about the reasons behind the prohibition of gambling and lottery in Islam and in the case of these reasons not present. ....

Subjects: Gambling; Islamic jurisprudence; Lotteries; Taboos

Fatawa

Bankruptcy, business dispute : business dispute

Question: Asalamualikumww,I have financial issues with a Muslim business partner, specifically he disregarded the contract we signed regarding the money I invested with him, and rather I think he used the money for personal means. He also hired my brother and ....

Subjects: Bankruptcy; Business

Fatawa

Giving earned interest to charities and others : giving interest to conventional charity

Question: Dear Dr. Monzer,Assalamu Alaykum Wa Rahmatullahi Wa Barakatuh,Can I get rid of bank interest through charities such as Oxfam ?Regarding bank interest, you state that this money can be donated to charities (poor) or for public projects. I for example ....

Subjects: Charity; Usury; Wages

Fatawa

Repentance for "interest" : do we need to do anything in addition to repentance from interest ?

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

Fatawa

Providence funds and retirement accounts : government employees are required to contribute to providence fund

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

Fatawa

Prizes and competitions on chance : prize lottery on accounts

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

Fatawa

Bank accounts deposits, etc. : prizes on checking accounts

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

Fatawa

Use interest money to pay bribes, bank charges, taxes : paying bribes from interest money

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

Resolutions

Working capital financing

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

Subjects: Capital; Contracts; Resale on profit

Resolutions

Restricted Murabah investment accounts

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

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

Journal Articles

Cost, revenue, and profit efficiency of islamic versus conventional banks : international evidence using data envelopment analysis

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

Journal Articles

The impact of consolidation on islamic financial services industry

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

Journal Articles

Sukuk market : innovations and challenges

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

Fatawa

Murabahah and installment Sale

Question: السلام عليكم و رحمة الله و بركاته،حسام-طالب ماجستير مصارف إسلامية :أرجو منكم الإجابة على الأسئلة التالية في عقد التوريد و جزاكم الله عنا كل خير :1- هل يجوز في عقد التوريد أن يكون تاريخ توريد السلع مؤجلا بعد عام مثلا ....

Subjects: Contracts; Financial transactions; Futures; Islamic jurisprudence; Sales

Fatawa

Murabahah and installment sale : Istisna’

Question: بسم الله الرحمن الرحيمالأستاذ الدكتور منذر قحفالسلام عليكمإننا نعلم أن أكثر الناس في البلاد الإسلامية لا يعتقدون المذهب الحنفي و على هذا لا يعتقدون صحة عقد الاستصناع بل يقولون يجب أن توفر شروط السلم مع ذلك يستخدمون في بنوكهم عقد ....

Subjects: Contracting out; Contracts; Hanafi jurisprudence; Resale on profit

Fatawa

Hajj, Umrah, Ibadah, Fasting, Kindness to Parents : [i’tikaf, its ruling and what acts may spoil it ?]

Question: Dear brother Assalamu Alaykum Wa Rahmatu Allahi wa BarakatuhI am attaching here with an email which came to me regarding this incident. One Imam here did socialization with young girls and women during Itikaf when he himself was in Itikaf ....

Subjects: Fasting; Fathers; Islamic jurisprudence; Pilgrimage; Worships

Fatawa

DIBPL auto finance product

Question: -.

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

Fatawa

Certificate of sharia ‘a compliance for direct savings account

Question: -.

Subjects: Financing; Islamic Banks; Islamic jurisprudence; Savings accounts; Speculation

Articles of association

Disclosures to promote transparency and market discipline for institutions offering Islamic financial services (excluding Islamic insurance (Takaful)‎ institutions and Islamic mutual funds)‎

Donor award: Islamic Financial Services Board (Kuala Lumpur, Malaysia)

Subjects: Finance; Investments; Islam; Risk management; Stockholders

Book

Teaching corporate finance : from an Islamic perspective

By: Ubayd Allah, Muhammad. King Abdulaziz University, Islamic Economics Institute,; 31-December -2007; pp.1-85, 85 p.

Subjects: Corporations; Financing; Islam; Islamic economics; Textbooks

Journal Articles

Seeking remedy, abstaining from therapy and resuscitation : an Islamic perspective

By: al-Bar, Muhammad Ali. Saudi Journal of Kidney Diseases and Transplantation. Vol. 18, no. 4 (Dec. 2007), 10 p.

Subjects: Islam; Religious aspects

Journal Articles

A survey on the objective of the firm and models of producer behavior in the Islamic Framework

By: Yusuf, Salamah Abd Allah; Amin, Ruzita Muhammad. Journal of King Abdulaziz University : Islamic Economics. Vol. 20, no. 2 (2007), pp.3-16, 14 p.

Subjects: Economics; Farmers; Islam; Islamic economics; Islamic jurisprudence

Journal Articles

Fasting the month of ramadan by muslims : could it be injurious to thier kidney

By: al-Wakil, Halah S.; Dasuqi, Imam; Lutfi, Nashat…[et al.]. Saudi Journal of Kidney Diseases and Transplantation. Vol. 18, no. 3 (Dec. 2007), pp.349-354, 6 p.

Subjects: Diseases; Fasting; Islam; Kidneys; Ramadan

Journal Articles

L'ijtihad et le code de la famille

By: Azzine, Muhammad. al-Meiar. No. 38 (Dec. 2007), pp.6-15, 10 p.

Subjects: Morocco; Islamic jurisprudence; Personal status law

Statistical Reports

Table 4, Tables.

Statistical yearbook. Sudan.; Ministry of the Cabinet.; Central Bureau of Statistics Vol. (2007), pp.474-474, 1 p.

Subjects: Statistics; Sudan; Alms tax

Statistical Reports

Table 3, Social services.

Statistical yearbook. Sudan.; Ministry of the Cabinet.; Central Bureau of Statistics Vol. (2007), pp.473-473, 1 p.

Subjects: Statistics; Sudan; Alms tax

Statistical Reports

Table 2, Social services.

Statistical yearbook. Sudan.; Ministry of the Cabinet.; Central Bureau of Statistics Vol. (2007), pp.472-472, 1 p.

Subjects: Statistics; Sudan; Alms tax

Statistical Reports

Table 1, Social services.

Statistical yearbook. Sudan.; Ministry of the Cabinet.; Central Bureau of Statistics Vol. (2007), pp.471-471, 1 p.

Subjects: Islam; Islamic jurisprudence; Statistics; Sudan; Taxes

Journal Articles

The relations between the Greek Orthodox of Syria and Cyprus in the 17th and early 18th Centuries

By: Wallbiner, Carsten Michael. Chronos. No. 16 (2007), pp.113-128, 16 p.

Subjects: International relations; Syria; Christians; Foreign policy; History

Journal Articles

Circumstances of a special relationship : Christian Arabs and Romanians during the 16TH-18TH Centuries

By: Feodorov, Ioana. Chronos. No. 16 (2007), pp.95-111, 17 p.

Subjects: Arab world; Romania; Christians; History

Journal Articles

Some aspects of Protestant-Orthodox relations in modern times : a historical analysis

By: Tarabulusi, Berge. Chronos. No. 16 (2007), pp.69-94, 26 p.

Subjects: Churches; History; Orthodox Eastern Church; Protestantism

Journal Articles

Le monastere de mar Elias AR-RIH dans le Akkar Syrien

By: Hulw, Nada. Chronos. No. 16 (2007), pp.51-67, 17 p.

Subjects: Orthodox Eastern Church; Syria

Laws

Board of directors decision No. ( )‎ of 2011 on instructions pertinent to the principles of organizing accounting books and records of each of the Takaful companies, agents, and brokers and determine data to be inserted in these books and records.

Donor award: United Arab Emirates

Subjects: Islam; Banks; Commercial law; Financial institutions; Law

Fatawa

Do I have to pay Zakah on shares held for me by a nominee ?

Question: Do I have to pay Zakah on shares held for me by a nominee on trust ? For e.g. I purchase shares in my own name via TD Waterhouse who hold legal title on a nominee basis. This means they ....

Subjects: Alms tax; Islamic jurisprudence; Stocks

Fatawa

Do I have to pay Zakah on money held for a minor ?

Question: I gifted my son £ 1,000 and hold this in an account in my son’s name. However prior to his 18th birthday he is not able to access that money without my consent. In this instance is he liable for Zakah ?.

Subjects: Age of majority; Alms tax; Islamic jurisprudence; Money

Journal Articles

Soi et l'autre. L'enseignement de l'islam

By: Shantuf, Tayyib. Horizons Universitaires. Vol. 3, no. 4 (Oct. 2007), pp.235-245, 11 p.

Subjects: Self-efficacy

Journal Articles

Interdiction du mal selon le coran, l'evangile et la thora

By: Ukashah, Shayif. Revue des Lettres et des Sciences Humaines et Sociales. No. 12 (Oct. 2007), pp.7-15, 9 p.

Subjects: Christianity; Islam; Judaism; Religious aspects

Resolutions

Musharkah with forward Ijarah finance

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

Subjects: People Companies

Resolutions

Musharakah finance

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

Subjects: Financing; Islamic jurisprudence; People Companies; Promise (Law); Purchasing

Journal Articles

Theory of the firm, management and stakeholders : an islamic perspective

By: Azid, Toseef; Asutay, Muhammad; Burki, Umar. Islamic Economic Studies. Vol. 15, no. 1 (Jul. 2007), pp.1-30, 30 p.

Subjects: Social responsibility; Economic development; Entrepreneurship; Islam; Stockholders

Journal Articles

Shariah compliant equity investments : an Assessment of current screening norms

By: Khatkhatay, Muhammad Husayn; Nisar, Shariq. Islamic Economic Studies. Vol. 15, no. 1 (Jul. 2007), pp.47-76, 30 p.

Subjects: Financial markets; Investments; Islam; Islamic law; Stocks

Journal Articles

On corporate social responsibility of islamic financial institutions

By: Faruq, Sayyid. Islamic Economic Studies. Vol. 15, no. 1 (Jul. 2007), pp.31-46, 16 p.

Subjects: Corporations; Financial institutions; Islam; Social aspects; Social responsibility

Journal Articles

Reformer l Islam ou decouvrir les faux musulmans ? : ce sont plutot les terroristes qui font les guerres a l Islam

By: Suman, Naimah. La Littérature Arabe. Vol. 2007, no. 3 (Jun. 2007), p.

Subjects: Islam; Muslims; Religious aspects; Terrorism

Journal Articles

A shari‘ah analysis of issues in Islamic leasing

By: Kamali, Muhammad Hashim. Journal of King Abdulaziz University : Islamic Economics. Vol. 20, no. 1 (2007), pp.3-22, 20 p.

Subjects: Banks; Financing; Islam; Religious aspects; ٌLeasing

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