investment Archives - Page 3 of 64 - IslamQA

Find answers to your Islamic questions by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

Investing in Index Fund

Answered by

Q: I wanted to ask a query regarding Shariah compliant index funds. I read from Muft Taqi Usmani’s introduction to Islamic finance that investing in stocks is permissible based on 4 main conditions: 1. Majority of business activities being permissible, 2. Portion of income which is from Haram sources must be given to charity, 3. Majority… read more »

Government assistance

Answered by

Q: I was legitimately claiming help with medical costs from the UK government for years. They assess whether you are eligible, by asking for details about your income and savings. Then in 2017 my father deposited some money in my account, and told me it is for his future investment. It wasn’t my savings. In… read more »

Calculating zakaat

Answered by

Q: I wrote my gate exam. If I get qualified or get a rank then I will get a monthly stipend for my, around 12 500. Do I have to pay zakaat on that money? If yes, then tell me the procedure. I mean is it compulsory on me to search for a needy… read more »

Withdrawing from a Forex broker

Answered by

Q: I have a question about withdrawal from a broker. I know FOREX trading is a separate issue, but lets say you do. My question isn’t about FOREX specifically, its about withdraw. Lets say our first initial deposit is $1000, then you make profit and your account becomes $5000. Now some brokers will say that… read more »