Interest

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Trustee for an oil company

Shaykh Ebrahim DesaiRead

Istikhara for Nikah

Shaykh Ebrahim DesaiRead

Is divorce over a text message valid?

Shaykh Arshad Ali, Shaykh Ebrahim DesaiRead

Reliability of a bank in the UAE

Shaykh Ebrahim Desai, Shaykh Nabeel ValliRead

Can i use the gold chain and gold earrings given to me as gifts?

Shaykh Ebrahim DesaiRead

Selling shares of a company which is involved in interest

Shaykh Ebrahim DesaiRead

Loan Involving Two Currencies

Askmufti.co.zaRead

Zakaat on Deceased Estate

Shaykh Yusuf LaherRead

Ulama and TV

Shaykh Siraj DesaiRead

Excess Facility in Home Loan

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Buying House on Finance

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Using Interest for School Fees

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Working in a Conventional Bank

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Building House with Interest Money

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  I bought shares in a listed company over a period of 7 years.  The shares were bought at various prices; some were at a higher price than the current share price, and some were bought at a lower price than the current share price. Some were bought with my own money, and some were bought with money borrowed on a 0% credit card. I recently discovered that the company is haram because it has no earnings, except from interest, and has large debt on which it pays interest. I understand that I must sell the shares, and any profit made has to be donated to charity. I need some advice on how to go about selling the shares, as the total value of my holding is less than what I paid/invested. Some shares are in profit, the majority are in a loss.  There are a few options available: 1)      Wait until the total value of the shares is equal to the  money I invested, and sell. This means that some share will be in profit,  and some will be at loss, but the profit cancels out the loss. 2)      Sell shares as each lot/tranche of shares reaches the price that I paid for them. Donate any excess to charity. This means that it may take  a long time to dispose of the shares, as the price will have to at least double. In fact, the price may never reach what I paid. Do I need to treat the shares purchased by borrowing money on credit card separately to the shares purchased using my own money. How should I deal with transaction costs? If it cost me £12 to buy 10 000 shares at 10p, and it costs me £12 to sell the shares, I have lost £24. 

Shaykh Ebrahim DesaiRead

I have a 2 part question first I will explain where I am coming from. I have heard in the past that running an employment agency is haram because for example: the agency appoints person A to carry out work for person B, at the end of that week person A had carried out 40 hours of work for which then person B will pay a rate of 10 pounds per hour worked by person A to the employment agency for which in return the agency will then pay person A a rate of 7pounds per hour pocketing the remainder. My understanding of this is was that the pocketing of the remainder would be classed as interest (RIBA) however I wasn’t 100% certain so my question is A. Is it permissible to run an employment agency? B. Is it permissible to work through an employment agency?

Shaykh Arshad Ali, Shaykh Ebrahim DesaiRead

Is Zakat due on shares in a housing scheme, RSP’s, RRSP’s, and stocks?

Shaykh Ebrahim DesaiRead

Interest on loans

Shaykh Ebrahim DesaiRead

How do I pay Zakat on my 401(k) plan?

Shaykh Ebrahim DesaiRead

Interest and Insurance

Shaykh Ebrahim DesaiRead