Find authentic Islamic Answers from over 69,000 questions. You can narrow down your search from Hanafi, Shafi'i, Maliki, and Hanbali schools of law. This answer was collected from TheMufti.com, which is a fatwa portal managed by Mufti Ismaeel Bassa from South Africa.
Q. Years ago, I was not inclined to Deen. So a friend of mine asked me for a R100.000.00 loan and I gave it to him on interest for a R150.000.00 return. After he repaid me the interest loan of R150.000.00, I used the same money to start-up my business which is a multi-million Rand… read more »
Q. I invested R100 000 of stock in my friend’s business. My friend agreed to give me a fixed return on investment of R50 000 on R100 000 after selling the stock. At the end of it, I would receive R150 000 in total. Is this correct according to Shariah? A. The transaction in reference… read more »
Q. It is compulsory for employees to invest a portion of their salaries in a Pension Fund. After retirement, employees have access to one third of the entire fund. Thereafter, the two thirds of the fund will be paid to employees on a monthly basis. If an employee passes away, the remainder of the two… read more »
Q. Is it permissible to contribute and benefit from a fund in this way: 12 people contribute a R1000 each to a fund for 12 Months. At the end of every Month, 1 person is chosen from the 12 people to benefit from the fund (R12.000.00) based on a draw. So, every Month, a new… read more »
Q. It is compulsory for employees to invest a portion of their salaries in a Pension Fund. After retirement, employees have access to one third of the entire fund. Thereafter, the two thirds of the fund will be paid to employees on a monthly basis. If an employee passes away, the remainder of the two… read more »
Q. Due to the Covid 19 Pandemic, there are many people who do not have an income but have money in investments that they cannot access now that make Qurbani compulsory on them. Can other people help them by doing their compulsory Qurbani for them? A. If a mature, sane, non-traveller (Muqeem) person possesses the… read more »
Q. Is the son or daughter responsible to take care of their mother if she remarried? The mother’s new husband does not work and does not provide maintenance. A. In the enquired case, the wife’s (new) husband is primarily responsible for her maintenance i.e. shelter, food and clothing. The son and daughter are not primarily… read more »
Ref. No. 1015 Please guide me for calculating the zakat, my wife is working and having seperate account, i dont have any interfarence in their earning and expenses, than who will pay zakat for her( She themselves or i can pay on her behalf ?. We have 2 land of 20 lac ( Approx) on… read more »
Is it permissible to become shareholders of companies by investing money through the national stock exchange ? Seeking your valuable suggestion and fatwa please. May Allah bless you with complete & lasting peace as well as profound success of here & hereafter. Rumman Hussain Chowdhury Answer: Ref. No. 1078/41-267 In the name of Allah… read more »
Q. What are the permissible financial investments an individual can make? A. There are different modes of financial investments that a person can make. However, all must conform to the guidelines and principles of the Shariah. At the onset, one must refrain from every such investment/contract that is connected to interest, speculation and gambling. Parties… read more »