Q: My wife works for the council. She visits properties where the tenant has died and left a lot of valuable stuff.: a) Can she take the items because. If she needs to look for an heir and she finds just one heir, who gives her permission to take the stuff (without regard for any other heirs […]
Read more...Author: alqalam_ITYPE
Do I have to pay zakat on my saveshare’s contribution?
Q: I work for BT and I am part of their saveshare scheme. I put in £50 every month from my wage towards the saveshare. The money is held by BT for 3 or 5 years. I do not have access to this money during the 3 or 5 years. Do I have to pay zakat on […]
Read more...Is there zakat on the funds held by my sport club?
Q: A sport club earns their money through main sponsors (businesses), local individuals, membership fees, selling member kits, match day fees, selling sandwiches/tea/coffee etc. The club has expenses including league fees, league fines, league dinner, purchase of member kits and printing sponsor names, fuel, insurance, umpire fees, scorer fees, purchase of tea/coffee etc, match balls, […]
Read more...Can I deduct my working expenses from my zakatable amount?
I work as a contractor which entails working away from home. My monthly costs for travel, hotel accommodation and food are in the region of £1000 per month. My client has recently extended my contract from the end of June 2016 to the end of December 2016. However, there is a standard 1 month notice […]
Read more...Can I be a partner in a company that borrows interest based loans?
Q: I want to buy a business with a Muslim friend, and I want to avoid using an interest bearing loan from the bank. My friend has studied the issue of interest and holds the opinion it is permissible in this country. If the bank agrees to loan the money to my friend whilst I make a contribution towards […]
Read more...Gifting a land without registering the name of the giftee
Q: My father bought much land and properties overseas during his life. One particular piece of land was bought especially for my mother and he expressed this to her and there are witnesses to his statements. She accepted the gift but did not want her name showing on the property documents as she believed her husband’s […]
Read more...Can we take part into the Free Postcode Lottery?
Q: I came across the Free Postcode Lottery http://freepostcodelottery.com/ http://www.moneysavingexpert.com/deals/free-postcode-lottery#fpl and was wondering whether this is Halal to take part in? You don’t pay to enter and they are funded by advertising. الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: The is no apparent prohibition in entering the Free Postcode Lottery.
Read more...How does the proposed Shari’ah compliant student finance Takaful model work?
The proposed Takaful model is based on the principle of mutual co-operation and guarantee. Whilst a conventional loan contract requires the applicant to pay interest on the amount borrowed, the Takaful contract requires the applicant to make a unilateral promise to make future charitable donations in exchange for the Takaful fund paying for the applicants […]
Read more...What is the current status of the Shari’ah compliant student finance that was expected to be introduced by 2016?
The government indicated that it expected to implement an alternative (Shari’ah compliant) student finance scheme by 2016, following its consultation published in September 2014. The government has since revised its expectations for delivering any such scheme to 2018 at the earliest, details of this confirmation can be found in the recent white paper, entitled ‘Higher […]
Read more...Zakat on self invested personal pension
Q: How and when does a UK based SIPP ( Self invested personal pension ) begin to attract Zakat? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب A: A Self Invested Personal Pension (SIPP) is simply a tax efficient investment wrapper. The rules relating to zakat on investments will also apply to a SIPP. There are […]
Read more...Is the new NHS pension scheme shariah compliant?
Q: The CARE (Career Average Revalued Earnings) is a type of defined benefit pension scheme. A defined benefit scheme guarantees a certain level of benefit at retirement, according to a fixed formula. In this respect it is similar to the current final salary sections of the NHS Pension Scheme. In a CARE scheme your pension is […]
Read more...Where should I keep my savings?
Q: I have some savings in a current account from a conventional bank that does not charge interest as far as I have been told, and just over £1000 saved in my saving account, that charges a minimum interest rate, that I do not have to hand now but I am told it is due to go […]
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