This answer was collected from DarulUloomTT.net, which is operated under the supervision of Mufti Waseem Khan from Darul Uloom Trinidad and Tobago.

Annuity and Credit Unions.

Answered by DarulUloomTT.net

Q. Are annuity and credit unions eg. TECU allowed in Islam and where are some of the places that are halaal that a muslim can put his money. Also life insurance, is it allowed? Also is it permissible to take loans from the bank or credit unions? A. The issue of annuity is that a… read more »


Answered by DarulUloomTT.net

QUESTION: Mufti saab My question is that there is an online investment in which a person will invest a certain amount of money money to large companies and then he/she will receive a certain amount of money (large profit) in an hour. Is this permissible? Mufti saab I’ve already asked you the question but just… read more »


Answered by DarulUloomTT.net

QUESTION: As Salam Alaikum, I have  questions regarding Zakat calculations: Question 1: From the annual calculations of zakat , do we need to deduct the following amount as deductible liabilities from my Assets in order to find the net value on which zakat ( 2.5% ) will be applicable ? : The Liabilities as follows:… read more »

Can a person invest in bonds, mortgages etc.?

Answered by DarulUloomTT.net

Assalamu Alaikum. I would like to know what some halal investments are in T&T. Is unit trust permissible? Also gov’t bonds, corporate bonds, mortgage funds and property and equity funds. I was approached in particular by someone from maritime life about these interns of an annuity plan. If these are not permitted can u recommend… read more »

Annuity Fund

Answered by DarulUloomTT.net

Asalaamu Alaikum, Supposing someone has an Annuity (personal pension  fund) only to realise after some years that it was Haraam and decided to cancel this fund. The person invested $3000.00. He received interest $2000.00 from Clico. For cancelling early the govt taxed him $750. Clico  charged him $250 surrender fee for cancelling the fund before… read more »

Investment In Stock Such As Day Trading

Answered by DarulUloomTT.net

Question: Assalamu Alaikum, Is investment in stock permissible? Such as Day Trading? Answer: Assalamu Alaikum, Generally, investment in stock is permissible once the products of a company and stocks are halal it fulfills the requirements of halal buying and selling. The investment must also be free from speculations and uncertainty. With respect to Day Trading, the… read more »

Islamic Conduction Of A Partnership Business

Answered by DarulUloomTT.net

Question: Assalaamu Alaikum Respected Mufti Sahib. Having gone into a Halal business partnership based on trust and written contract arrangements with another Muslim Brother who portrayed Taqwa , as time passed, I realised that I was manipulated for his personal gains. Trust seems to be just another word without any value. Can you give some… read more »

Investing in Unit Trust.

Answered by DarulUloomTT.net

Question: Is it permissible to engage in any sort of investing with the Unit Trust Corporation of Trinidad and Tobago? Answer: The UTC of T&T invests their monies in many different companies, some of which are Halaal and others are Haraam. While they may be able to inform their clients as to where they normally… read more »