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Interest

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

Paying leave pay with interest money

Answered by DaruliftaaZambia.com

Question Salam can one pay their workers there leave pay with interest money? Answer In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. In principle, one cannot derive benefit from interest money. [1] Interest money must be disposed of to the poor and needy without the intention of reward…. read more »

Refusing to use Hand Sanitizer

Answered by DaruliftaaZambia.com

Question If i follow a view that all forms of alcohol are haraam including the one used in hand sanitizers. Can the masjid authorities force it down upon me to sanitize my hands with that sanitizer? From a sharia point of view can they deny me entry into the masjid simply because i refuse to… read more »

Currency Exchange

Answered by DaruliftaaZambia.com

Question Asslamulaikum if we buy dollar and fix the rate and pay kwacha after 7 hours is permissible? Answer In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. In principle, if two different currencies are traded with one party trading on credit, then the currency will be traded on… read more »

Banking with Al-Rayyaan Bank

Answered by DaruliftaaZambia.com

Question Asalamualaikum Mufti Saab. Hope you are well? Wanted to ask a question regarding banking in the UK. I have an account in the UK with an Islamic Bank. And there is an Account known as FTD or Fixed Term Deposit Account. These are savings accounts that pay the highest expected rate of profit. However,… read more »

Who does the profit belong to?

Answered by DaruliftaaZambia.com

Question   بکر نے حج پر جانا ہے ۔ زید بھی بکر کے ساتھ جانا چاہتا ہے ۔ زید نے دس لاکھ بکر کے اکاونٹ میں بھجوائے کہ میں بھی آپ کے ساتھ جانا چاہتا ہوں اپنی بکنکنگ میرے ساتھ کروانا اب اکاونٹ میں رقم بکر کی بھی ہے اور زید کی بھی اب اس… read more »

Is this extra money interest?

Answered by DaruliftaaZambia.com

Question A relative in the uk asks me to to perform a sadka of slaughtering a goat on her behalf,I perform it and it’s costs me K200. The relative pays me a standard amount of £20 or $25. It’s always been such that the exchange rate value of the foreign currency paid to me is… read more »

Insuring Fuel for Sale

Answered by DaruliftaaZambia.com

Question I am currently running a filling station and do not own the premises. I have been asked to insure our fuel purchased from the company we rent from.  This fuel is stored in under ground tanks and sold to customers. Kindly advice if I am able to insure this fuel.  So in case of… read more »

Gifting with interest money

Answered by DaruliftaaZambia.com

Question Asalamwalekum, I have one question regarding interest money.  It is permissible to give gifts to our servant on some occasions or festivals using interest money. And what if we tell them that it’s from interest money? Answer In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. You refer… read more »

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