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business

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Is it permissible to confiscate items belonging to someone due to his non-payment of a loan, which are to be returned upon payment? What avenues are available for a creditor to pursue in the case of a debtor defaulting on the payment of a loan? (In a non-Muslim country with verbal contract)

Shaykh Muhammad ibn AdamRead

The Fiqh of Muslim Non-Muslim Interaction, A Detailed Explanation

Shaykh Muhammad ibn AdamRead

Does Drawing Money from one’s own Company at Market Interest Rates Constitute Riba?

Shaykh Muhammad ibn AdamRead

Using Bank Interest to Start a Business

Shaykh Muhammad ibn AdamRead

I always hear that one should not take or give interest. My question is, how can you start a business or deploy industry or for that matter do anything that requires capital without paying interest? Actually if you think about it, we are all getting affect by interest one way or other. Our governments go out and borrow money from IMF to pay its bills and give money to the banks for borrowing? So if the government is>borrowing money you can understand the impact it has on all citizens of that country. Please help me understand how you can setup any business in this world without borrowing money (paying interest) unless of course you are Bill Gates.

Shaykh Muhammad ibn AdamRead

Changing my Fiqh Madhhab

Shaykh Muhammad ibn AdamRead

Investing in Mutual Funds

Shaykh Muhammad ibn AdamRead

Difference between Zakat and Sadaqat al-Fitr

Shaykh Muhammad ibn AdamRead

Zakat on Business Wealth & Stock

Shaykh Muhammad ibn AdamRead

If an Islamic Mortgage Costs too Much, Can I Take a Conventional Mortgage?

Shaykh Muhammad ibn AdamRead

Working in an actuary firm

Shaykh Muhammad ibn AdamRead

Interest (riba) in Company Shares

Shaykh Muhammad ibn AdamRead

I would be highly obliged if you please guide me about the foreign exchange trading (hedging, futures, options) and its legitimacy in Islam. Many of my friends are indulged in this business and they argue that it is halal from the sharaih point of view but I am doubtful. I had posted the same question to Mufti taqi Usmani Sahib but after waiting for several days, I could not get answer. So the sooner you would help me, the better it would be for me. Please also refer to some useful links in this regard.

Shaykh Muhammad ibn AdamRead

Are Pensions Lawful?

Shaykh Muhammad ibn AdamRead

How does a Muslim scholar, serious student, and others who have devoted their lives to the service of Islam and the Muslims support himself/herself? I ask because this is perhaps one of the main reasons why parents don’t wish for their children to become scholars of Islam — they are usually poor, they don’t get paid much at all (if at all), and they attract trouble from different extremist groups. I come from an upper middle-class family. How can I convince my parents that I can become a Muslim scholar and have sufficient finances to support myself and my family?

Shaykh Muhammad ibn AdamRead

Microfinance: Is it Islamically Permitted for a Financier to Demand a Fixed Return from the Borrower?

Shaykh Muhammad ibn AdamRead

Question on the Fiqh of Financing

Shaykh Muhammad ibn AdamRead

I want to ask about this justification which I use based on understanding of some Ulema and majorly my own understanding, which I think could be wrong too, but if Ulema of Sunni Path concur then Insha ALLAH I will stick to it firmly, its about Riba and I want it to be clarified because Insha ALLAH I would be getting into Business field very soon. If a Bank gives you Service and takes a certain amount of money from you then would it be considered as Riba? Like for instance I am a Bank who says to Person X that I will secure your money of Rs 10,000 for the time period of 1 year and in return I take a calculated and fixed amount of money say for example Rs 1000, would this be considered as Riba? My Second Question is regarding Loan, for instance I take loan of Rs 10,000 from a Bank and the Bank says it will charge me Only Rs 1000 at the end of tenor and I will have to return the money in any case even if my business goes in loss would that be considered as Riba?, because usually what happens in Pakistan is that you have to payback the loan with interest so kindly distinguish between these 2 kind of situations.

Shaykh Muhammad ibn AdamRead

If One has not Paid Zakat for Several Years, How Does One Calculate it?

Shaykh Muhammad ibn AdamRead

Selling Cigarettes in one’s Newsagents Shop

Shaykh Muhammad ibn AdamRead