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Ibn Hajar

Shafi'i Fiqh

Sale with option to Repurchase is Invalid

A man owns a plot of land that is worth (25000JDs) and wants to keep it. However, he is in dire need for (5000), so he reached an agreement with someone whereby he sells it to the latter for (5000) under the condition that he repurchases it from him later on for (7000JDs). However, that person stipulated that it must be repurchased within six months or else he won`t be obliged to offer it for sale nor sell it for the agreed price. Is this form of sale permissible?

Shafi'i Fiqh

A Form of Land Investment

A landowner and an investor have reached an agreement whereby the owner shall offer a plot of land to the investor on basis of a power of attorney that extends until the end of the intended project. In return, the investor shall pay the sum of one million and two hundred and fifty JDs, via cheque cashable after two years from its date, as the price of that land. However, that price shall remain fixed regardless of any rise in land prices. The purpose behind the two-year period is giving the investor the opportunity to build residential flats and sell them. The latter shall also cover all the needed expenses. Moreover, any party that fails to fulfill the terms of this agreement shall pay, to the other party, the value of all the damages resulting from that, in addition to (9%) as an interest, effective from the date of the agreement. What is the ruling of Sharia on this?

Shafi'i Fiqh

Zakah on Property of Investment Organizations

We are a cooperative organizationthat was established through contributions made by its members(Shareholders) where each paid a thousand JDs; either one time or by installments. The money is investedthrough purchasing different commodities and selling them, by installments, to shareholders or others. This is in addition to the establishment of different micro projects. Is Zakah due on the organization`s property? If yes, what is the amount? Moreover, it is worth pointing out that a shareholder has the right to withdraw his share in the capital and the profits, but he has to notify the organization in advance.

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