Question:- 1. Is a living annuity permissible for me to take out upon retirement. 2. If I have a voluntary Retirement annuity, I don't have access to the money until Retirement. Do I pay Zakaat on this? 3. If I take out an investment, my money is with the investment...
QUESTION: Is life cover that is imposed upon by the lending company acceptable for a short term loan. The insurance covers loss of salary, disability and death on the outstanding balance. In the event the borrower is deceased, the amount owing becomes fully paid....
QUESTION: My father passed away few weeks ago (24 Rabiul Akhir 1445), and he did not have a will. We managed to find out about most of the people he owed money to and managed to settle their accounts, Alhamdulillah. However, my daddy had debts with the bank amounting...
QUESTION: With regards to exporting goods, most international buyers, whether Muslim or non-Muslim, require the goods to be sent via the CIF (Cost, Insurance and Freight) shipping method. This means that the seller is responsible for all the costs involved right up...
QUESTION:- I work for an N.P.O. The following products are sponsored by Old Mutual to staff: Pension Package Disability Cover whilst on duty Death whilst on duty We do not make any contribution towards it, nor is it deducted from our salary. Would it be permissible to...
Question:- I have a question with regards to pension funds and Zakaat which will be applicable on them. There are two fund options that I can opt for. It is obligatory to take out any one of the funds. In both cases, a percentage of the salary is deducted from the...
Question:- I send out an advertisement on social media stating that all those who will forward my advert to their friends and groups, will enter a prize draw. The winner will be announced and will receive a prize. Is this not a form of gambling or is it allowed?...
Question:- Is it permissible for a couple to apply for medical aid? Many women have medical aid policies due to the high costs involved when giving birth, etc. Answer:- Our Darul Ifta does not approve of any form of medical insurance due to it comprising of the...