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    Answers with Tag: Interest

    Selling shares of a company which is involved in interest

    Hanafi Fiqh | | Askimam.org

    Loan Involving Two Currencies

    Hanafi Fiqh | Askmufti.co.za

    Zakaat on Deceased Estate

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    Ulama and TV

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    Excess Facility in Home Loan

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    Buying House on Finance

    Hanafi Fiqh | Askmufti.co.za

    Using Interest for School Fees

    Hanafi Fiqh | Askmufti.co.za

    Working in a Conventional Bank

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    Building House with Interest Money

    Hanafi Fiqh | Askmufti.co.za

      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. 

    Hanafi Fiqh | | Askimam.org

    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?

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

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    Interest on loans

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

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    Interest and Insurance

    Hanafi Fiqh | | Askimam.org