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business

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This is about taking a sub- brokership (also known as Franchiser) in the Share Trading Company.                        In the Sub-Brokership we run a business where the share traders open there accounts and trade (Buy/Sell Shares, Futures, Options) through us. These traders are called Clients. We get a percentage of the brokerage fee as agreed between us and the Share Trading Company. Kindly tell me is this kind of business is permissible in Islam…

Shaykh Shafiq JakhuraRead

I am interested in the Forex SPOT trading business and would like to know if it is halal. The trading that I will be doing will be as follows: Let’s say, I invest $1,000, the broker invests or lends $99,000 and together we buy the currency like euro worth $100,000. The broker will not charge any interest on the money that he invested or lend, because it will be a Shariah compliant account.     – If the rate of the euro goes up and I decide to sell the euro. The broker will take a small share of the profit and rest is given to me     – If the rate of the euro goes down below a certain margin which is determined by the amount I invest, my broker will close the trade and take his money back and I will lose the money I invested. Also, another place were interest may be involved is when the buying and selling is not done on the same day, then a rollover occurs which mean that either we have to pay interest or give interest on the currency you have bought, but the brokers is offering a swap free or interest free accounts for Muslims only, in which, even if you do not close the trade on the same day, they will not debit or credit any interest. I am interested in Spot trading not Future trading. Please let me know if this type of trading is halal.  

Shaykh Shafiq JakhuraRead

Seeing the name of Maulana Mufti Taqi Usmani in the Shariah Board and reading his fatwa on the permissibility of Meezan Bank products, I opened a saving account with Meezan Bank Limited. Now I have found out that there is a controversy on the subject and even Mufti Taqi does not recommend the bank now. Please guide me should I continue with the said bank or not? Where I should keep my money if even this bank is not Shariah compliant?  

Shaykh Taqi UsmaniRead

What does Islam say about tobacco/cigarette based business/job? Actually I am Director Sales & Marketing of a world renowned tobacco group and some of my Muslim brothers told me that it is Makroh-e-Tehrimi (close to Haram). They tell me that I am selling cancer stick, and I will be held accountable by Allah because of my role in expanding heart diseases and cancer. I am very much curious since I am earning a living through this business.    

Shaykh Shafiq JakhuraRead

Extra Freight Charges Kept by Airline Employees

Shaykh Ebrahim DesaiRead

I currently live in the U.S. My dad is planning on buying a store where cigarettes are being sold. It is a very successful business but he is uncertain if in Islam the selling of cigarettes is haram or not. Note that my family is aware of how dangerous it is for one’s health so we don’t smoke. The question still remains whether he can sell it or not?

Shaykh Ebrahim DesaiRead

Renting Premises for Alcohol Business

Shaykh Ebrahim DesaiRead

Miqat for Umrah

Shaykh Ebrahim DesaiRead

Where do the souls go after death?

Shaykh Faraz Adam, Shaykh Husain KadodiaRead

What is the Shar’i guidance on profit allocation between partners?

Shaykh Faraz AdamRead

To what extent can a rabbul maal interfere in the affairs of the mudharib?

Shaykh Ebrahim Desai, Shaykh Faraz AdamRead

Reducing risk in foreign exchange

Shaykh Faraz AdamRead

Is Goodwill permissible?

Shaykh Faraz AdamRead

I gave 50 percent of the land in exchange for development, however we want to split, is this method correct?

Shaykh Ebrahim Desai, Shaykh Faraz AdamRead

How is Zakat paid on a business partnership?

Shaykh Ebrahim Desai, Shaykh Faraz AdamRead

How do I make a life changing decision?

Shaykh Ebrahim Desai, Shaykh Faraz AdamRead

How can I understand if a certain company is halal to work for?

Shaykh Ebrahim Desai, Shaykh Faraz AdamRead

Are trusts permissible?

Shaykh Ebrahim Desai, Shaykh Faraz AdamRead

Working in Coke and beer bottling company

Fatwa.org.auRead

Superannuation management business

Fatwa.org.auRead