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investment

Shafi'i Fiqh

Ruling on Investing in Halls Used for Holding Parties and Wedding Receptions

What is the ruling on building a hall to be rented for holding different social events and wedding receptions? This is taking into consideration the fact that many violations of Sharia take place during these events; however, we will include a number of Sharia conditions upon signing the rent contract. Does doing so clear us from liability before Almighty Allah as we have no authority to ban any violations of Sharia?

Shafi'i Fiqh

Renting or Renting out one`s Academic Certificate isn`t Permissible

What is the ruling of Sharia on registering an engineer at an engineering office to obtain more building permits than the number determined by the Jordanian Engineers Association? This is knowing that this engineer will receive a salary from this office without doing any actual work for it. What is the ruling of Sharia on this engineer`s end-of-service gratuity and certificate of expertise?

Shafi'i Fiqh

The Permissibility of Subscribing in Staff Provident Funds is Based on the Investment Method

 

I work in a company and it has a staff provident fund where the latter income is based on a deduction of 4% from each employee's salary on a monthly basis; in return, the company pays 5% of the employee's salary and the amount saved for each one that is 9% of his salary. It is worth mentioning that the subscription in this fund is voluntary; thus, unsubscribed employee won't be paid the 5% percent by the company.

In the past few years, funds used to be managed through commodity investment which is based on Islamic Murabaha and the profits out of this investment were distributed at the end of each year to subscribers only. Lately, a new administrative committee was elected but it didn't abide by lawful financial transactions ;rather, it facilitated some transactions and loans that don't comply with Islamic Sharia, the question is:

Am I permitted to keep my subscription in this fund and benefit from my deposited basic capital which is 9% of the salary's value, as mentioned above, in addition to waiving and denying all of the other profits gained from an illegal investment? Or should I withdraw from the fund once and at all; and consequently, I will lose the (5% out of my salary value) which was paid by the company to subscribers. Although a lot of violations took place such as authorizing the purchaser to pay the value of the goods and at the same time taking delivery by himself without any interference by the fund.  

Shafi'i Fiqh

Ruling of Sharia on Changing Contract`s Formulation

Is it permissible to change the form of portfolio management from profit-sharing Mudarbah contract into a contract of agency investment in return for 1.5 % of capital per year without the consent of the client? Is it permissible to take a known fee as a percentage of capital against managing the portfolio`s funds through agency investment contract? 

Shafi'i Fiqh

Islamic Ruling on the Rental of Commercial Registrations and Licenses

I have to enter into a consortium with a major construction company to work in joint projects where my company does the work and provides the funding. However, the other company requested a fixed percentage from the value of every project to be registered in its name. I told them that such a thing could be impermissible from the perspective of Sharia. As a result, I registered (5%) for them as a fixed percentage from the profits of every project. Nevertheless, they refused and requested that I register (2%) from the total value of every project regardless of the amount of profit. Is it permissible for a partner who contributed neither in the funding nor in the work to take a percentage from the value of a project regardless of the profit and loss?

Shafi'i Fiqh

Ruling on Practicing Medicine Using Someone Else`s Academic Degree

I`m a dermatologist living abroad. A colleague of mine asked me to apply for a license for a medical center, which offers skin treatment and cosmetic laser surgery, in Jordan using my own occupational license in return for a certain amount of money. Being overseas, I can`t supervise this facility`s various activities, such as injecting with fillers, Botox and laser to remove hair and pigments, in addition to other procedures. Is this permissible knowing that these physicians are competent and well-trained? Will I be held accountable before Allah for any misconduct happening without my knowledge?

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