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What is the ruling on spending money in shops that are accused of giving money to the yahood in Israel who are oppressing the Muslims?

08 Nov

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 the Romans. However, it is best for a Muslim not to buy from them if there is an alternative.

Khushu in Salah(Bulugh al-Maram) Part 53

Articles, Prayer, Q&A/Fatwas, Videos

05 Nov

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In an Islamic bank they are askng the Customer to pay the down payment directly to the supplier/dealer (for example Car loan). Is it permissible?

Islamic economy

14 Oct

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 signing.

One of the student of knowledge told me mufti taqi usmani is an expert in this and he is the highest ranked scholar in your country and that’s enough for am Aami to know. Below is the nature of their agreement Car Ijarah is Pakistan’s first Interest Free car financing based on the Islamic financing mode of Ijarah (Islamic leasing). This product is ideal for individuals looking for car financing while avoiding an interest-based transaction. Meezan Bank’ Car Ijarah is a car rental agreement, under which the Bank purchases the car and rents it out to the customer for a period of 1 to 5 years, agreed at the time of the contract. Upon completion of the lease period the customer gets ownership of the car against his initial security deposit. An Islamic Ijarah is an asset-based contract, i.e. the Lessor should have ownership of the asset during the period of the contract. Under Islamic Shariah, all ownership related rights and liabilities should lie with the owner while all usage-related rights and liabilities should lie with the user. A conventional lease contract does not distinguish between the nature of these liabilities and places all liabilities on the user of the asset, which is contradictory to Islamic Shariah. Under Ijarah, all ownership-related risks lie with the Bank while all usage related risks lie with the user, thus making the Lessor the true owner of the asset and making the income generated through the contract permissible (Halal) for the Bank. Continuation of lease rentals in case of total loss or theft of vehicle If the leased vehicle is stolen or completely destroyed, the conventional leasing company continues charging the lease rent till the settlement of the Insurance claim. Under the Islamic system, rent is consideration for usage of the leased asset, and if the asset has been stolen or destroyed, the concept of rental becomes void. As such, in the above-mentioned eventualities, Meezan bank does not charge the lease rental.

Islamic economy

13 Sep

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 to sell! However, to guaranty their money, the camouflage it like this! How would you feel if you had an agreement of 5 years with them, which […]

Two years ago my father was in India and asked a friend in saudi for a loan of 1,000,00 rs , so my father’s friend sent him 6,666 riyals accrding to the currency rate. Now the freind is asking the money back in Saudi riyals ,when my father us ready to pay in Indian rupees and the currency rate has changed, what should he do.

Islamic economy

04 Sep

He must return it in the same currency he borrowed it in! If he borrowed it in Riyals, it must be returned in riyals.

Is it halal to invest in a stock of a telecom/pharma/textile etc. company, which possess normal bank loans and pay interest to banks? Is it halal to invest in Islamic bank Bangladesh stocks or bonds, where they are claiming themselves as fully shariah compliant but we actually don’t know their situation?

Islamic economy

02 Sep

If the loans exceed 30% of their financing, it is not permissible to buy their stocks. If you don’t know whether it is shariah complaint or not, you shouldn’t buy them.

can i take new books in exchange of my old books and some extra money on spot hand by hand?

Islamic economy

23 Aug

yes

Al-Rajhi bank follows islamic law, but if they give me a credit card, then is it haraam or halal ?

Islamic economy

17 Aug

It is halal!

Regarding latest question: u cant sell something u dnt own. resellers- who buy from the company at factory rates and then sell it to customer by adding own profit.All the furniture resellers only order when the customer orders and pays atleast 50% of money.dey dnt own it (becoz its not even made yet) they use customers money to order frm company.u said its not permissible?

Islamic economy

04 Aug

This is called istisnaa and it is having something made for you with well known specifications and description with an advanced payment and a defined time of delivery. This is permissible. What is not permissible is to sell something that is specific and known; for example: my friends car which I don’t own and have […]

I have a garage; man comes to get his car repaired. It requires parts which I have to buy and this requires me to spend time, effort, transportation etc. So I tell him that the parts will cost him 1000 Dirhams, and he agrees – but I know that the parts will cost only 800 Dirhams. What is the ruling on the extra money that I charged him?

Islamic economy

03 Aug

If you will charge 200 for fixing it, this is permissible. But if you are going to make a profit of the part itself, this is not permissible.

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