customer Archives - Page 40 of 49 - IslamQA

This answer was collected from Albalagh.net, which is an Islamic site with Q&A and articles authored by many world renowned scholars from the Muslim world. Many of Mufti Taqi Uthmani’s fatawa in English are found exclusively on this site.

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.  

Answered by Albalagh.net

Forex Trading By Mufti Shafiq JakhuraPosted: 18 Dhul Hijjah 1430, 5 December 2009 Q.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… read more »

Extra Freight Charges Kept by Airline Employees

Answered by Albalagh.net

Extra Freight Charges Kept by Airline Employees By Mufti Ebrahim DesaiPosted: 9 Jamad-ul-Awwal 1424, 27 June 2004 Q.) I have a question pertaining to the business my company is involved in and would like your ruling on same. Business: Freight forwarding by air and sea. Situation: · Today cargo is loaded onto aircrafts by weight… read more »

Pigskin for Shoes

Answered by Albalagh.net

Pigskin for Shoes By Mufti Ebrahim DesaiPosted: 27 Safar 1424, 17 April 2004 Q.) I am running a shoe factory. Is it allowed to make footwear from pig skin supplied by the customer? A.) The skin of a pig is najis (impure). It is not permissible to derive any benefit from a pig. Therefore it… read more »

What makes a contract Shari’ah compliant?

Answered by Darulfiqh.com

What are the requirements for a valid contract to be Shari’ah compliant and valid? Answer: In the Name of Allah, the Most Gracious, the Most Merciful.   As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. In essence, there are 6 fundamental requirements for any contract to be Shari’ah compliant and valid: 1)     Consensus Consensus refers to the parties being… read more »

Is Goodwill permissible?

Answered by Darulfiqh.com

Is Goodwill permissible?Answer:  In the Name of Allah, the Most Gracious, the Most Merciful.  As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. Goodwill is seen as an intangible asset on the balance sheet because it is not a physical asset such as buildings and equipment. Goodwill includes assets with value that are exceptionally difficult to quantify. It typically reflects the value… read more »

Working at KFC

Answered by Fatwa.org.au

Is it permissible to work at KFC? Answer: In the Name of Allah, the Most Gracious, the Most Merciful. __ It is not permissible to work at KFC (in Australia), as one will have to serve haram food to the customers.  (See: Fatawa Usmani: 3/398) And Allah knows best. Mufti Faizal Riza27/11/2011 Source

using credit card

Answered by Fatwa.org.au

_ 1) Is using a credit card permissible if by the end of each month the balance is paid in full and no interest is paid at all? 2) Is it permissible to pay for products and services with a credit card when there is a surcharge (1% etc which varies from company to company)… read more »

customer said keep the change

Answered by Fatwa.org.au

_ I work at a 7-Eleven store. Sometimes, customers leave the change and allow me to keep it. My question is that am I allowed to keep that money or does it belongs to 7-Eleven? JazakAllah khair Answer: In the Name of Allah, the Most Gracious, the Most Merciful. _ It will depend on the… read more »

Sidebar