Business Dealings

Returning a Defective Item

QUESTION: Zaid wanted to buy a phone from Bakr. Bakr gave Zaid the phone to test out. After keeping the phone for a day, Zaid said the phone was working perfectly and decided to buy it. After 3 days, a problem appeared on the screen (commonly caused due to falling)....

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Discovery Health Insurance

QUESTION: Is it permissible to take out Medical Aid with Discovery? What about "Vitality Rewards" with Discovery? Is this Jaaiz? ANSWER: We have not approved of Discovery health insurance or the Vitality rewards programme that is linked to health insurance. We...

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Retirement Policy

QUESTION: If we have a retirement annuity and it will only be accessible in about 5 years time, do we have to take out Zakaat on the annuity? ANSWER: If the policy is an involuntary policy which was enforced upon by one’s employer, then Zakaat will only be due upon...

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Partially Refunding a Deposit

QUESTION: Zaid was selling a product for R150 on order. Bakr placed an order and paid a R50 deposit. When the product arrived, the value of the product had decreased but Bakr did not have the money for the product. Can Zaid sell the product at the new value of R130...

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Purchasing a Property on Riba

QUESTION: A family member has bought a house in South Africa, while she is residing in Canada. She bought the house through the bank, and is renting it out for a year until she returns. Would this fall under Riba, or is the transaction in order? ANSWER: If your cousin...

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Payflex

QUESTION: I would like to find out the permissibility of making use of the following purchase option: The payment facility allows you to make monthly payments up to 6 weeks without charging any interest. If I make sure that the money is paid up in full before the 6...

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