Business Dealings

Selling cars through a third party

QUESTION: Would it be permissible to sell cars on finance through a third party? This entails passing the client's documents over to another dealer who will proceed with approval checks at an additional cost to the client, on our behalf. We in turn, will receive the...

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Gifts donated to children of an orphanage

QUESTION: A family member runs an organization and collects Eid gifts for an orphanage. He takes these gifts and gifts them to children in the family as a gift from himself (whereas these gifts were gifted to the orphanage kids by others, and the family children are...

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Purchasing gold as an investment

QUESTION: A brother in Singapore wants to purchase gold as a stable investment. Due to the difficulty of storing such a valuable commodity, the seller offers the option to purchase the gold, while the seller still retains physical possession of the gold. The buyer...

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Insurance on transported goods

QUESTION: I am going to start an online store for my business. I will be using a courier company to deliver my orders. However they are advising that I insure my goods, reason being, that the high risk involved with their vehicles being targets of theft/hijacking. I,...

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Usage of interest funds

Question:- If a person has financed the purchase of a vehicle using the conventional banking system, involving interest, would it be permissible for them to offset or pay the interest charged from funds acquired through interest accrued in their personal / business...

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Partners sharing profits in a partnership

Question: Determining Share Percentage in an Islamic Partnership: In a traditional company or partnership, a partner's share percentage is often determined by the ratio of their initial investment to the total investments of all partners. Is this principle applicable...

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