1

investment

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

Investing in a grocery store

Answered by DaruliftaaZambia.com

Question Assalaamualaikum. Say I invest a certain amount in a grocery store, and at the given date I get the profit. When I decide to withdraw the given amount, I have to inform the store owner a month in advance. Are such type of business deals allowed? Answer In the Name of Allah, the Most… 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 »

Is Qurbani necessary for a young teenager with a Child Trust Fund but no other funds?

Answered by Darulfiqh.com

Question: Is Qurbani necessary for a young teenager with a Child Trust Fund but no other funds? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. Answer: Non-withdrawable and inaccessible Investments do not form part of one’s Niṣāb for Qurbānī. Therefore, despite owning funds in a Child Trust Fund,… read more »

Is the Teachers’ Pension CARE Scheme Permissible?

Answered by Darulfiqh.com

Question: Is the Teachers’ Pension CARE scheme permissible? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. Answer: It is permissible to be a member of the CARE scheme offered to school teachers. The Fiqh (jurisprudence of the answer): Pensions pay-outs are deferred salary[1].  In a CARE scheme, the… read more »

What Is The Difference Between Trading, Investments and Gambling When The Outcome Is Uncertain In All and All Have Risk?

Answered by Darulfiqh.com

Question: What is the difference between trading, investments and gambling when the outcome is uncertain in all and all have risk? Answer: In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. In the context of risks, trading and gambling are both regarded as speculative risks.  In trading and gambling,… read more »

Is invoice discounting permissible?

Answered by Darulfiqh.com

Question: Is invoice discounting permissible? Answer: In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. Invoice discounting is a form of short-term borrowing often used to improve a company’s working capital and cash flow position. Invoice discounting allows a business to draw money against its sales invoices before the customer has actually paid.[1]… read more »

What is the Islamic perspective on Premium Bonds?

Answered by Darulfiqh.com

Question: What is the Islamic perspective on Premium Bonds? Answer: In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. In the UK, a premium bond is defined as a nonmarketable government security issued by National Savings & Investments at £1 each.  Periodical interest is not paid; instead the investment is entered… read more »

Sidebar