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Shafi'i Fiqh

Ruling on Paying Salary to Non-Working Partner from Company`s Profits

A fuselage was purchased to be turned into a restaurant based on a contract of partnership and employment. The first party is responsible for bringing this fuselage to a certain location while the second shall do whatever is needed to equip this restaurant to the fullest. In order to safeguard the financial rights of the first party, one point of the contract stipulated the following: "The second party shall pay (1000 JDs), at the minimum, to the first party from the monthly revenues and for each month, except during forced closures and in the incidence of storms and inactivity resulting from force majeure." After asking about this, we were told that it is unlawful to determine this percentage at a certain sum for this is usury (Riba). Therefore, it was suggested to adjust the above point into one of the following alternatives: First, the second party shall pay a monthly salary (1000 JDs) to the first party, although the latter party won`t be working on the project. Second, the second party shall pay (1000-1500 JDs), at minimum, to the first party from the monthly profits. In light of this, is determining a percentage from the profits, as indicated above, unlawful according to Sharia?

Shafi'i Fiqh

Islamic Ruling on Charging Money for Issuing Letters of Credit

Could you clarify the Sharia basis on which Islamic banks charge a percentage, as commission, from the value of the letters of credit issued upon request of client to import goods and raw materials. The bank issues the letters of credit (LC) in favor of the exporter and covers their value based on the agreed conditions, including the bill of lading that proves cargo shipment, then requests client to pay the value of the LC?

Shafi'i Fiqh

Sale with option to Repurchase is Invalid

A man owns a plot of land that is worth (25000JDs) and wants to keep it. However, he is in dire need for (5000), so he reached an agreement with someone whereby he sells it to the latter for (5000) under the condition that he repurchases it from him later on for (7000JDs). However, that person stipulated that it must be repurchased within six months or else he won`t be obliged to offer it for sale nor sell it for the agreed price. Is this form of sale permissible?

Shafi'i Fiqh

Ruling on Selling Shopping Coupons against a Murabaha Percentage

Is it permissible to sell shopping coupons of specific amounts to members of the staff provident fund of a certain company against a certain Murabaha percentage where the members make purchases from certain stores and pay for them by installments over a maximum of one year from the date of purchasing. It is worth pointing out that the coupons allow the bearers to buy goods and can`t be exchanged with cash?

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