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I am trying to help my brother and his family financially but he does not take care of his family and the little money that he gets he buys and chews Qat ( Catha edulis or قات) what is your advise? Should I stop helping him or just continue?

Riba

02 Mar

You should not give him cash. You should buy his family the food they need or the medicine but not give him anything in cash.

Whether stock trading is haram or halal ?

Riba

02 Mar

This depends on the companies – whether they are dealing in Riba or not – and it depends on the method of buying and selling. If one buys straight with his own money in companies that don’t deal in Riba and the shares he bought are his forever, trading in such shares is permissible.

I would like to ask for advice regarding personal life and accident insurance. Our company has a policy of providing personal life and accident insurance for their employees. I would like to know if participation in the scheme is allowed in Islam.

Riba

02 Mar

If it is voluntary, this is not permissible to participate in it.

Please, what is the Islamic ruling with respect to mortgage loan?

Riba

02 Mar

Any interest taken over a loan is Riba and it is forbidden. Such a loan on mortgage is forbidden.

If I am given bonus called diwali bonus, in the form of cash, what to do?

Riba

02 Mar

If it is connected to a Kafir feast, I would recommend that you give it to charity unless you are in need of it.

What is the ruling on mortgage in islam as in my place it is a practice among the poor who have no house to stay in a house or a part of a house of the other on Mortgage.

Riba

02 Mar

The system works like this: The house owner receives a previously decided amount from the one who needs the house. He then stays at the house of the owner for a period (definite or in defenite) without paying anything thing else (no rent). When the house owner asks him to vacate or when the other […]

My question to you is, what is the idealofy of stockmarkets in islam. Can a muslim invest in a stockmarket when he/she is going through financial crisis and what does our religio say about this subject.

Riba

02 Mar

Dealing in shares Many Muslims invest in stocks (stock market). The argument is that, since there are risks where one can lose or gain, that it constitutes doing business so long as one does not buy stocks on the margin or be involved in direct interest bearing investments. Please explain the limits of investing in […]

Is car Insurance allowed in Islam? My friend have car and he is afraid if somebody big car like BMW,MERCEDEZ,FERARY hit him how can he pay the huge amount. But if he make insurance he will be safe side.

Insurance

02 Mar

In order for you to lease a car, there has to be a number of conditions to be fulfilled: 1- The insurance must be on the company leasing you. 2- The maintenance must be on the company leasing you with the exception of operational maintenance such as oil etc. 3- There shouldn’t be another contract […]

I am looking to start learning to trade in Forex but I don’t want to spend so much time learning only to eventually find out it is forbidden in Islam. Would you please, tell me the status of Forex Trading in Islam, advise me if you will.

Riba

02 Mar

It is not permissible to trade in currency except if the transaction is done on the same spot and time by giving the money and receiving it hand by hand at the same time. In Forex, you need a day or two before you can cash your money, if I am not mistaken.

Why Islamic banks are issuing a credit card wherein there are so many discussion regarding credit card that entering on this transactions is HARAAM?

Riba

02 Mar

It is not possible to explain in detail. These Islamic banks have a Shariah board and they advise them with what is permissible and what is not.

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