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How much profit or percentage of profit can we earn from a product? Is earning extra profit on any product is riba??

Halal/Haram Matters, Islamic economy

06 Aug

ANSWER: If the product belongs to you, it is permissible to sell it at any price you want.

1. We take partnership in Amway(health,beauty,homecare products)we purchase for ourselves/ customers & find people who wants to do same 2. Amway has an agreement,if we join someone, Amway will give points equal to the points of the below person & give bonus,incentives,leadership bonus etc 1.structure wise a pyramid. Is it allowed in islam 2. Gain ponts equal to the below persons is allowed

Halal/Haram Matters, Islamic economy, Jobs

02 Aug

ANSWER: Pyramid schemes are not permissible.

One of my family member is going to buy me a phone through online by using his ‘CREDIT CARD’and paying the amount in INSTALLMENTS, If he is late to pay then he has to give ‘FINE’. Is it permissible for me to buy that phone from him if i know this is the case?

Halal/Haram Matters, Islamic economy

29 Jul

ANSWER: If he is going to sell it to you after buying it, this is permissible as the sin is on him! However, you must not commit to buying it or give him any down payment until he actually possesses it and you have the choice whether to continue or refuse to but it.

Is buying shares/stocks of a shariah compliant company and selling it within a day even an hour or few haram? Couldn’t find reasonable answers online.

Islamic economy

27 Jul

ANSWER: If you mean by intraday is buying and selling on the same day, this is only permissible when there is no obligation to sell at a specific time. This means if you buy stocks in the morning, you can keep them for as long as you wish and no one can force you to […]

Regarding the car purchased on installments from Abdul latif Jameel, a person paying installment sells me the car. His last payment is pending. He makes a deal with me and I give him last payment. He pays it. This is done with the consent of the actual owner Abdul Lateef Jameel, & they will transfer car ownership to my name directly. is this transaction halal for buyer? if not is it riba?

Islamic economy

20 Jul

ANSWER: This is not permissible as he is selling what he doesn’t possess.

Is it not possible that sukuk falls under بيع العينة considering the criteria for the sale of the asset is always that it is resold to the seller, or that it falls under buying a product that is not yet owned as in a fish in the water, or بيعتين في بيعة؟ I’m afraid most dealings replacing riba, but tagged halal still end up haram because they aim for same results

Islamic economy

08 Jul

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 profit. If there is a trusted sharia board that overlooks the dealings of such sukook, investing in it is halal in Sha Allah. […]

My cousin brother wants to start a mobile business. My mother wants to invest money in his business and from the profit he’ll have she wants 50/50 of it. She will not be involved in any other way in his business other than investing money. Now she wants to know can she do so?

Halal/Haram Matters, Islamic economy

22 Jun

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 not from the capital invested and that if there were any losses, he loses his effort and work and she loses her money and capital.

They show products from some other dealer& says the price(including his profit)&I tell him to book it for me.He contacts the main dealer & pays the dealer by himself.In the meantime I send whole money to my wholesaler(who is actually a bridge between me & dealer).After he gets the money he asks the dealer to courier me the product.Is it ok?I pay the whole money before the product is shipped.

Islamic economy

11 May

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 date of arrival, this is called salam transaction and it is permissible.

Is it permissible to invest and buy shares in stock markets like companies who don’t involve in ribas, alcohol and other non permissible things. And there is a company who gives you an account with money after taking their class for investing and 70% of profit you keep and 30% they take with no interest so is that halal.

Halal/Haram Matters, Islamic economy

29 Apr

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 doesn’t deal in Riba by financing its activities through riba or through deposits.

Is it permissible to take credit in a bank that it has 0% interest but it tells the time that you have to pay back for example during 24 months you have to payback all the money, every month you have to pay an amount of money. Is this haram?

Halal/Haram Matters, Islamic economy, Riba

29 Mar

ANSWER: It is also prohibited as you are agreeing to pay riba but after 24 months.

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