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business

This answer was collected from Daruliftaazambia.com, which serves as a gateway to Darul Iftaa Mahmudiyyah – Lusaka, Zambia.

Investing in a grocery store

Answered by DaruliftaaZambia.com

Question Assalaamualaikum. Say I invest a certain amount in a grocery store, and at the given date I get the profit. When I decide to withdraw the given amount, I have to inform the store owner a month in advance. Are such type of business deals allowed? Answer In the Name of Allah, the Most… read more »

Guidelines for fees during Covid-19

Answered by DaruliftaaZambia.com

Question Asslaaamu Alaykum Wa Rahmatullahi Wa Barakaatuh Kindly guide us on the payment of fees in the following circumstances: Due to the virus, the government had ordered schools to close 3 weeks before the term ended. All the schools and Madrasahs failed to complete the term normally. It has now been 6 weeks. During this… read more »

Does a Valid Sale Require Price Display?

Answered by Darulfiqh.com

Question: Is it necessary to display the prices of goods in a shop? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. Answer: A citizen of any jurisdiction will follow the trading standards of his jurisdiction in terms of business practice. A resident of the UK will follow the… read more »

Is Zakat due on the packaging used in sales?

Answered by Darulfiqh.com

Question: I have a food catering business. Is Zakat due on the packaging used? For example, food containers, carrier bags etc? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. Answer: If one is billing and charging customers for packaging, the packaging will be a Zakatable business asset. If… read more »

Is Retail Forex Trading Shariah Compliant?

Answered by Darulfiqh.com

Question: Is Retail Forex Trading Shariah Compliant? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. Answer: Retail conventional Forex trading, where individuals are merely speculating on currency pairs, is non-Shariah Compliant. Brokers which offer Islamic FX accounts advertise their product with ‘no rollover/swap fees’. What is more important… read more »

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