Business Dealings

Inheritance from life insurance

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...

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Profits from FNB Islamic Banking

QUESTION: Is "Islamic Profit Share" from FNB halaal? ANSWER: The Darul Ifta does not approve of FNB Islamic Banking and their investments, as we are not aware of their modus operandi. We therefore advise that the profits earned through such investments must be given...

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Using a “savings pocket”

QUESTION: On the FNB Bank app, there is an option called "bank your change" (BYC). Will this be permitted in Shariah? ANSWER: ‘Bank your change’ in our understanding, is where the bank transfers small change from your banking account into a savings pocket. This...

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Checkers sixty60 program vs. a motor-plan

QUESTION: With regards to something like what Checkers introduced, whereby one pays R99 as part of their membership program, and as part of being a member one receives (I think) a 10 percent discount as well as delivery perks etc, Would that be permissible? Also, with...

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Receiving recurring commission

QUESTION: My brother buys and sells cars. For a short while I was keeping a written record of it. I observed his method where people find the cars for him, and if he buys that car, the person receives a commission from that purchase. I found a contact to buy cars from...

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