Q: What is the ruling on life insurance? Does the ruling differ if one truly thinks ‘they need it’, as oppose to seeking financial security. And lastly, is it OK for them to take it if they have found an edict espousing a view holding it as permissible? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: […]
Read more...Author: alqalam_ITYPE
I intend to purchase a property for my business use for which I intend to borrow the money from my own pension funds.
Q: I intend to purchase a property for my business use for which I intend to borrow the money from my own pension funds. I have a self administered pension scheme to which I and my partners contribute, the scheme allows us to operate and invest the money at our own discretion as so far […]
Read more...Can I invest in premium bonds?
Q: Can I invest in premium bonds? The Al-Qalam Shariah Scholars Panel is respectfully requested to advise on the Islamic position regarding premium bonds. Are they a suitable way for Muslims to invest? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: Premium Bonds are not suitable for Muslims to use as an investment […]
Read more...Please could you clarify if house insurance is permissible, and if so, under what circumstances?
Q: Please could you clarify if house insurance is permissible, and if so, under what circumstances as I recently heard that it was permissible on the basis to protect a neighbour’s property in case of fire, flood, etc? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: Conventional home insurance involves the unlawful elements […]
Read more...Can I take a student loan if it’s the only way I can afford to go to university?
Q: Can I take a student loan if it’s the only way I can afford to go to university? الجواب حامدًا و مصليًا و منه الصدق و الصواب A :Whilst the importance of getting a university education is acknowledged, it must be maintained that it cannot be done at the expense of the […]
Read more...Can I inherit from a non-Muslim?
Q: Can I inherit from a non-Muslim? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: There are principally two types of laws that relate to the estate of a propositus, viz. the laws of inheritance and the laws of bequests. According to the laws of inheritance non-Muslim heirs of a Muslim propositus will […]
Read more...Can I perform my prayers during the time in which clients have paid for my services?
Q: Can I perform my prayers during the time in which clients have paid for my services? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Whilst you are required to perform your obligatory prayers within the correct time and it is very understanding of your employer to allow you to do so, you cannot charge […]
Read more...My employer wants me to exaggerate the time spent on tasks on a timesheet for a client
Q: My employer wants me to exagerate the time spent on tasks on a timesheet for a client. الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: You cannot make a dishonest claim even if it is at the insistence of your employer. If it is normal practice that the time taken to register the time […]
Read more...What is the distinguishing difference between a trust and waqf?
Q: What is the distinguishing difference between a trust and waqf? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: The fundamental difference between the forms of trusts discussed in the document on trusts and a valid waqf is that in the latter property is taken out of one’s ownership and passed in to the ownership […]
Read more...Can Zakah be given to orphans or orphanages?
Q: Can Zakah be given to orphans or orphanages? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: If the orphan does not own the Nisab then he/she may be given Zakah. If the orphanage makes the orphans owner of the Zakah and can be trusted to do so then one may give Zakah to an […]
Read more...What is Maradhul mawt?
Q: What is Maradhul mawt? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Maradhul mawt is the state wherein the dominant presumption is that death will occur and the individual dies in that same state whether this is due to illness or other reason. If an illness is not presumed to be fatal then such […]
Read more...Can you explain the concept of LIBOR?
Q: Can you explain the concept of LIBOR? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: Please read from page 117 from the link below: http://islamicfinancenews.files.wordpress.com/2009/09/an20introduction20to20islamic20finance.pdf It has covered this issue in a very easy to understand way.
Read more...