22 Dhul-Qa'dah 1441

Islamic Economy

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Jul 8th, 2020
ANSWER: This concept is a form of buying shares in a company or a project that one buys for a certain period of time where he is a partner in loss and ...
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Jun 22nd, 2020
ANSWER: It is permissible to share the profit in any percentage they agree upon. However, she should know that the percentage is from the profit and no...
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May 11th, 2020
ANSWER: If he sells you something that is well described to you while naming a fixed price and giving it to him in advance in full and he gives a fixed...
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Apr 29th, 2020
ANSWER: 1- In order for any investment into the shares of a company, two conditions must be fulfilled: 1- The line of work is halal 2- The company does...
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Mar 29th, 2020
ANSWER: It is also prohibited as you are agreeing to pay riba but after 24 months. ...
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Dec 22nd, 2019
ANSWER: If you are acting as his agent, you must first agree with him to the commission he is going to give you. You can’t sell it and make a pro...
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Nov 17th, 2019
ANSWER: This is permissible providing that those investing money know that if the investment has total loss in money, they will lose their money and ca...
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Sep 22nd, 2019
ANSWER: If the store deducts from your bank account 25 $, this is permissible as it is like using ATM card for withdrawing money from your account. ...
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May 22nd, 2019
ANSWER: You need first to know what is the percentage of your investment from the whole capital so that when you want out, you can estimate the actual ...
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Mar 23rd, 2019
ANSWER: We must study the transactions of such a company in order to figure out whether it is dealing in halal or in haram.  Money exchange issues hav...
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Mar 16th, 2019
ANSWER: You must be cautious as this sounds like a ponzi company and all your money would be lost. One must not believe whatever people say to him! His...
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Feb 16th, 2019
ANSWER: Halal investments must have few conditions in order to be legit. It must be based on loss/profit basis. This means that it can lose part of ...
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Jan 15th, 2019
ANSWER: You cannot take an advance payment or sell something that you do not possess. ...
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Nov 4th, 2018
ANSWER: The same concept of cryptocurrency applies to this. ...
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Oct 26th, 2018
ANSWER: There isn’t any prescribed percentage. Some scholars say that even one percent is prohibited as you are part of the owners. Other scholar...
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Apr 17th, 2017
If the 350k is fixed and can’t be increased even after 60 months, this is permissible....
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Nov 9th, 2015
If they believe that these Imams are knowledgeable and know, there is no sin on them in sha Allah,...
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Nov 8th, 2015
Buying from the disbelievers is permissible as the Prophet salla Allahu alaihi wa sallam and his companions used to deal with the Jews, Persians and th...
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Oct 14th, 2015
It can’t be an Islamic transaction if there is no risk on the bank and the bank didn’t acquire and possessed the car before the contract si...
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Sep 13th, 2015
Such a transaction is not straight forward as I don’t want to lease and they don’t want that either in reality! I want to buy and they want...