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 […]
Read moreIt 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.
Read moreIt 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.
Read more…This loan has fixed rate of interest which is applied once. At the time I took the loan I was unaware of the punishment for Riba, which I regret now. However now I have become more practicing and seeking Allah’s forgiveness. The question is if one dies without paying off this loan would they be […]
Read moreCelebrating silver, gold or diamond jubilees Some companies or administrations celebrate 25 years since the founding, and they call that a silver jubilee. They also celebrate after 50 years, and call that a golden jubilee, and after 75 years they call it a diamond jubilee and so on. Are these celebrations Sunnah or an innovation?. […]
Read moreYes, you can but this is not a charity per se, but rather cleansing your money from such forbidden income. Of course this is in the case that you are forced to take it and there are no other current accounts that don’t give interest on deposits.
Read moreWhat you had done was wrong and a sin. You must repent to Allah and ask Him for forgiveness. As for the house, as long as you have bought it and the price is fixed and whether you sell it or keep it, the price is fixed, in this case, you should stay in the […]
Read moreIt is permissible to accept a gift that was earned through haram means as long as it is not itself stolen. The burden is on that individual who earned it but once it is given as a gift, it becomes lawful for the recipient.
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