Money & Finance

Loan from the bank

(#109) assalamu alaykom: I hope this email finds you safe and well inshaAllah brother. I live in Christchurch and i have a question regarding loans from the bank. I would like to start my own business here in NZ and i am wondering whether it is ok to take a loan from a NZ bank…

Car dispute

(#108) Asalamalaykum Ustaad this is the question  Seller: zayd – Buyer : amr I zayd have driven my car for approximately 3-4 months the car has driven long distances and was in good condition I wanted to tell my car so I gave it to amr to sell on my behalf at his car yard ,…

Pet insurance

(#107) Asalamualaikum Warahmatullah Wabarakatuhu dear Shaykh, I pray this email finds you well Inshallah Me and my wife own two cats Alhamdullilah. We had a quick question about Pet Insurance. My understanding is most if not all insurance schemes are haram (forbidden) due to the uncertainty carried within them I assume the same for Pet…

Charging of fee on mobile topup

(#105) Aslamualikum wr wb I want to ask,is that allowed giving mobile company $50 cents on $5 topup?they say that $50 cents are there services charges. . Kindly give me an answer,so that we can continue or discontinue this practice. JazakAllah khair Answer بسم الله الرحمن الرحيم السلام عليكم و رحمة الله و بركاته حامدا و مصليا…

Buying a house on interest

(#103)  Is it permissible to buy a house on bank loan in New Zealand. I don’t have sources to buy with cash. This home will be for myself and family not for investment purpose. Answer بسم الله الرحمن الرحيم السلام عليكم و رحمة الله و بركاته حامدا و مصليا و مسلما Muhtaram We are in receipt of…

Shares

(#089) Is it permissible to purchase shares in the stock market? Answer بسم الله الرحمن الرحيم السلام عليكم و رحمة الله و بركاته حامدا و مصليا و مسلما Muhtaram We acknowledge receipt of your question pertaining to the Shar’i ruling of Shares. Our response is as follows:  As we mentioned that there is a difference…

Concerning student allowance or the unemployment benefit

(#085) Assalaamualaikum,Concerning student allowance or the unemployment benefit.  If i am receiving a student allowance from Studylink of say $150 p/w, a condition is added that on top this i can earn a maximum of $40 p/w from any legal job.  Any dollar I earn above $40 will result in my allowance being reduced by 70 cents per additional…

3D Modeling of humans for software engineering

Question (#068) Salaam I am asking this on behalf of a Pakistani friend, who is an expert in CAD. A technology that is able to show 3D models of buildings, trees, gardens etc. It’s mainly used in construction field. However 3D models of humans and animals can be created for education, medicalscience, cartoons, etc. Is such 3D…

Dispute settlement outside the court

Question (#062) Is there something in Muslim law that when a dispute or something is taken tocourt, that a cash payment outside of the judicial system is a preferable wayof settling the dispute?  Or something along these lines? Are you able topoint me to a reference?ThanksCheers Answer بسم الله الرحمن الرحيم السلام عليكم و رحمة…

Ijara Muntahiyya Bit-Tamleek

Question (#043) Assalamualikum. In a Islamic financial transaction –  Ijarah Muntahia Bittamleek , can the lessor avoid risk and reward by giving the whole risk and reward to the lessee ? Answer بسم الله الرحمن الرحيم السلام عليكم و رحمة الله و بركاته حامدا و مصليا و مسلما Muhtaram We have received your query dated…