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

Subjects: Agency (Law); Capital; Financing

Question: Asslaamu Alaykum Wa Rahmatullah Wa BarakatuhI ask Allah subhanahu Wa t’ala to allow you to receive this email in the best of health and Iman.Allah Aza Wa Jal accept your Ramadan, bless you and your family, grant you Ikhlas and ....

Question: [Question one] :Dear Ammo Monzer,Assalamu Alykum !InSha Allah you are well and in the best of conditions !Since you are a Qatari citizen at the moment, congratulations on winning the competition for hosting the world cup (only if you approved ....

Subjects: Islamic jurisprudence; Labour; Usury

Question: Assalamu Alaikum, Dr Monzer :I have been working at ISNA from 1995-2009 and now looking into doing some IT consulting since my background is in IT.I have always admired your knowledge and attended your lectures, Alhamdulillah. May Allah, bless you ....

Subjects: Insurance; Islamic jurisprudence

Question: Assalamu Alaikoum Brother Monzer,I'm currently enrolled in an extracurricular club where they have purchases using a team credit card. I'm currently in a situation where I have to put a purchase on that credit card, if they incur Riba (interest) will I be at fault ?Jazakallah Khairan,Ahmad.

Subjects: Credit cards; Islamic jurisprudence; Usury

Question: [Question one] :Assalamu `Alaikum, Dr. KahfI am interested in learning about the Islamic way of financing small start-up businesses. Would you please direct me to any references on this subject ?Jazaka Allahu Khairan, and Ramadan Kareem ![Question two] :Jazaka Allahu ....

Subjects: Financing; Islam; Islamic jurisprudence; Small enterprises

Question: Assalam 'Alaykum Wrahmatullah respected Shaikh,In Sha’ Allah you are in best of health and Iman,Forgive me for taking your time. I have a question that I wanted to ask please.I am enrolled in an Islamic institute and they expect us ....

Subjects: Administrative fees; Commissions; Debt repayment; Fines (Penalties); Islamic jurisprudence

Question: Dear Dr. Kahf,Assalamu Alaykum Wa Rahmatullah Wa BarakatuhI was pleased to read about the deposit insurance institution in Jordan and would like to ask the following question : If the insurance company does not observe Shari’ah Compliance in its investment ....

Subjects: Bank deposits; Insurance

Question: As-Salaamu Alaikum Warah'matul-Laahi WabarakaatuhuuDear Dr. Kahf,May Allah bless you with the best of this month of Ramadan. A business investor recently approached me about having a standby letter of credit that he wanted to discount.I informed him that I did ....

Subjects: Advice; Discount; Letters of credit

Question: الأستاذ الدكتور منذر قحف حفظه الله السلام عليكم و رحمة الله و بركاتهتقبل الله طاعاتكم و أسعد أوقاتكمسعدت بقراءة بشأن مؤسسة ضمان الودائع الأردنية. و لدي سؤال على النحو الآتي :إذا كانت مؤسسة الضمان لا تلتزم في استثماراتها بالشريعة ....

Subjects: Bank deposits; Financial guarantees

Question: Salam Alaykum Sheikh and uncle,I asked a sheikh from my local Masjid about university loans, he said to take a student loan with interest will remove the blessings from my studies. Uncle please help me as I'm only 17 and ....

Subjects: Financing; Higher education; Islamic jurisprudence

Question: Assalamu' Alaykum,My name is Reshad, formerly from southern California but now living in the bay area. Masha Allah I've known Ammar through Hawthorne and Yaman through MAS Orange County for some time. May Allah protect and reward them both. I've ....

Subjects: Financing; Housing; Provisions of sharia; Purchasing

Donor award: Syria International Islamic Bank (Damascus, Syria)

Subjects: Corporate governance

Question: Do students have to pay Zakah on money from a student loan, if they have it in their possession ? For e.g. a person took out tuition fee loan and maintenance loan (not grant) which roughly comes to about £ ....

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

Question: Dear Dr. Monzer ,I have an important question regarding credit cards. I did surf through the internet and read a few of your fatwas, but I need to ask further. I hope you can reply so that I can spread ....

Subjects: Credit cards

Question: What elements of my pension do I need to pay Zakah on ?If my pensions is a “Zakatable” asset then what do I need to pay the Zakat on ? The entire holding (i.e. fund value) or pay Zakat on ....

Subjects: Alms tax; Islamic jurisprudence; Pensions

Question: -.

Subjects: Alms tax; Islamic jurisprudence; Pensions

Question: What elements of my pension do I need to pay Zakah on ? If my pensions is a “Zakatable” asset then what do I need to pay the Zakat on ? The entire holding (i.e. fund value) or pay Zakat ....

Subjects: Alms tax; Islamic jurisprudence; Pensions

Question: Salam Alaykum Professor,I understand if you're busy then you may not have time to answer, but if you do may Allah reward you for your efforts.The issue is whether the game called 'Yu-Gi-Oh ! ' that my friends play is ....

Subjects: Awards; Cards competitions; Contests; Money

Question: Dear Br. Monzer KahfAssalamu Alaykum Wa Rahmatullah E Wa BarakatuhHope you are fineI want to discuss an important issue regarding the conduct of central banking in an Islamic system of Economy. There is an important book “transition to a Riba ....

Subjects: Central banks; Management

Question: السلام عليكم و رحمة الله و بركاتهفضيلة الدكتور منذر، كل عام و أنتم بخير، و علكم في أحسن حال و قرب من الله تعالى، و رمضان كريم..دكتورنا الغالي نريد منكم المساعدة في الإجابة على السؤال التالي الذي يرتبط بأخوين كرميين ....

Subjects: Islamic jurisprudence; Loans; al-Qard al-Hasan

Question: In the name of Allah, the most-merciful, the all-Compassionate"May the peace and blessings of Allah be upon you"Praise be to Allah, we seek his help and his forgiveness. We seek refuge with Allah from the evil of our own souls ....

Subjects: Money; Usury

Question: [Question One] :Assalamu Alaykum Wa Rahmatu Allah Wa Barakatuh Beloved Shaikh Dr. KahfLet me start by wishing you, your family, your beloved ones and all or Ummah a Ramadan Mubarak.1. Your assistance in the following matter is highly appreciated. When ....

Subjects: Fasting; Islamic jurisprudence; North America; Prayers

Question: Asslam Alaykum !Respected Sir !I got your e-contact from askthescholar.com I’m very thankful to them. Sir I am much confused about life insurance, is it legal in Islam or not ? According to one of a lecture of Dr. Zakir ....

Subjects: Insurance; Islamic jurisprudence

Question: [Question one] :Assalaamu Alaikum Sh. Kahf,I pray that you are doing well, InSha Allah.Shaykh, I wanted your advice on education-financing products.As you know in North America post-graduate education can be very expensive. It is more expensive in the US than ....

Subjects: Education; Financing

Question: Dear Prof Dr. Kahf,Assalamualaikum Warahmatullahi Wabarakatuh,Ramadan Kareem,I pray that you and the family are all well by the grace of Allah.I wish to inform you that the article was published in two local newspapers here.Some people responded and wanted more ....

Subjects: Alms tax; Money; Payments; Usury

Question: Dear Mr. MonzerAssalam O Alykum Wa Rehmatullah Wa Barakatuh HuSir in quest of knowledge and research on Islamic Economic Order, at this stage (being of not reasonable financial profile to pursue out of Pakistan or to live in Islamabad) after ....

Subjects: Islamic jurisprudence; Resale on profit

Question: AsslamAlaikum,I live in India, can you tell me is health insurance valid.With regardsAdil.

Subjects: Health insurance; Islamic jurisprudence

Question: Assalamu Alaykum,Q1. I am looking for a child insurance plan for my daughter. The plan details are I have to pay certain amount every year for couple of years then after maturity they will provide me double or 6-10 % ....

Subjects: Interdependence; Islamic jurisprudence; Life insurance

Question: Assalamu Alaykum,I am looking to buy an apartment in Vancouver, Canada. I have enough cash to put a 50 % down payment from the asking price which is $ 260,000. For the rest of the 50 %, what type of ....

Subjects: Banks; Islamic Banks; Purchasing; Subprime mortgage

Question: Dear Dr. Monzer,Assalamu o Alaykum Wa Rahmatullah,I hope you are doing well by the grace of Almighty. I have a question concerning copyright policies of some companies and what should be our approach as a Muslim and as general consumers. ....

Subjects: Copyright; Corporations

Question: As Salam-O-AlaykumDear Dr. Monzer KahfHere, I am Aquib Khan of Shahid Group of Industries, New Delhi, India, as executive accountant and finance officer. I have joined this firm a week earlier after completing my post graduate diploma in Islamic banking ....

Subjects: Bills of exchange; Discount; Exports

Question: Assalamu Alaykum Dr Kahf,Currently Dubai Islamic Bank has introduced personal loan similar to HSBC Amana. With my limited knowledge I don't see major differences. I understand HSBC Amana is a Tawarruq method.This is how DIB worksCan I borrow money with the type of transaction mentioned in DIB website ?Barakalla FeeqJazakallahRifai.

Subjects: Islamic Banks; Islamic jurisprudence; Loans

Donor award: United Arab Emirates

Subjects: Islam; Banks; Commercial law; Islamic jurisprudence; Law

Question: [Question one] :Assalam Alaykum Dear Dr. Monzer,I hope you are all well by the grace of almighty.I have a question regarding payment of interest on taxes owed to government. After some adjustments IRS determined that I owe a small amount ....

Subjects: Islamic jurisprudence; Taxes; Usury

Question: Dear Sheik Monzer Kahf,Assalamualaikum Warahamatullahi Wa BarakatuhI trust that you and the family are in the best health and happiness by the Grace of Allah. I have written a short article to explain both Zakah and CSR. After referring to ....

Subjects: Alms tax; Corporations; Social responsibility

Question: [Question One] :Dear brother in Islam,Asalaam Alaykum,We would like to know, that are we allowed to fill the cremation form as a doctor in Islam ? are we allowed to take the compensation given after filling cremation form ?Jazakallah KhairSharif[Question ....

Subjects: Burns; Compensation (Law); Cremation; Islamic jurisprudence

Question: Assalamu Alaykum Dr. Monzer,My name is Sana ; I live in New Jersey with my husband and my family. At present I’m in the process of receiving my master degree in Accounting and financial management, and In Sha Allah I’m ....

Question: [Question one] :Assalamu 'Alaykum Dr. Kahf,I know that you must be extremely busy, but I need an answer to a rather urgent / important question. My wife and I have four days to decide whether or not we will be ....

Subjects: Financing; Housing; Purchasing; Real property

Question: Dear respected Dr. Monzer Kahf :Assalamo Alaikum Wa Rahmatullah :I pray and hope that you are in excellent health. I have known you for many years and have benefitted tremendously from your talks at ISNA conventions in Canada and the ....

Subjects: Inheritance; Islamic jurisprudence; Pensions; Wages

Question: Dear Br. Dr. Monzer,I had a quick question from a discussion we had on Sukuk transaction while you were here. If an obligor sells an existing asset for a period of time (say 5 years) to investors, pays rent on ....

Subjects: Deeds; Foundations of Islamic jurisprudence

Question: Assalamu Alaykum Dear Dr. Monzer,Sir,I have question about purifying past income from previous bank and financial institutions IT jobs. I do not work in FI anymore after realizing the Shari’ah rules. Is there a requirement for me to purify past ....

Question: Bismillah al Rahman al RahimDear Dr Monzer,Assalam O AlaykumJazak Allah Khair ! Thank you for your answer to my previous question. I truly appreciate it. I have a couple more short questions.1. I live in the US state of NJ. ....

Subjects: Insurance; Interdependence; Islamic jurisprudence; Vehicles

Question: Assalamu-o-Alaykum Dear Dr. Monzer,I hope it finds you in good health and happiness. My question is regarding taking employment with a company that does credit reporting. To my understanding they do not give / take loan to / from businesses ....

Question: Asslalamu Alaikum I and my brother live in our current home with our parents. We are married and have started families. In 5 or 10 yrs. Time we will need another house therefore have taken out a conventional mortgage on ....

Subjects: Financing; Housing; Purchasing; Real property

Question: Asalam Aleikum,We are doing business in Kenya, we would like to know what is the Islamic point of view on invoice factoring, is it Halal as the conventional companies or banks do it ? Or if this is not Halal can it be made Shari’ah compliant and how ?Ali..

Subjects: Administrative fees; Commissions; Islamic jurisprudence

By: Muhammad, Murjan. ISRA International Journal of Islamic Finance. Vol. 2, no. 1 (Jun. 2010), pp.159-162, 4 p.

Subjects: Banking; Ibra'a (Islamic law); Islamic Banks

By: Ahmad, Muhammad Ali Jinnah. ISRA International Journal of Islamic Finance. Vol. 2, no. 1 (Jun. 2010), pp.155-158, 4 p.

Subjects: Bank deposits; Insurance; Interdependence

By: Diaw, Abduh; Hasan, Salwana; Ka, Adam Ng Boon. ISRA International Journal of Islamic Finance. Vol. 2, no. 1 (Jun. 2010), pp.133-151, 19 p.

Subjects: Mutual funds; Stocks

By: Sad, Nurma Md; Duasa, Jarita. ISRA International Journal of Islamic Finance. Vol. 2, no. 1 (Jun. 2010), pp.113-130, 18 p.

Subjects: Banking services; Loans