Business Dealings

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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Insurance payout from building

Question:- Two weeks ago a family member of ours requested that we lend him some money because his geyser had burst ! Because he is staying in a block of flats the insurance covers burst geysers etc. (Please note that he does not have insurance.) The building manager...

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Tenant removing fixtures and fittings

Question:- If a tenant is renting a premises from me and mounts fixtures and fittings on the premises then according to the  law of the land, he has to leave the fixtures and fittings when vacating the premises according to my understanding. What is the Shariah ruling...

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Using interest funds on Madrasah students

Question:- Can interest money be given to Zakaatable Madrasah students book their tickets to go home? Answer:- The recipients of interest are individuals that are eligible to receive Zakaat. However, we advise that poor students should be assisted with Zakaat and...

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Performance bonds

Question:- Are performance bonds permissible? Please check the following link: https://grow.exim.gov/blog/surety-bonds-for-exporters-what-is-a-performance-bond Answer:- Based on the information submitted, performance bonds fall in the category of gambling, hence...

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