QUESTION: An opportunity to invest has arisen. Kindly find the details of the proposed investment below: • I am required to invest an amount of R1 000 000.00 into a private company for the purpose of business expansion. • The investment term is 5 years. • The capital...
QUESTION: Is taking a fixed loan from the bank permissible? For example, the bank takes the papers thus assuming ownership of the car, and a higher fixed amount is set over a certain period. ANSWER: Taking a loan from the bank to procure a car is not permissible as it...
I am considering trading XAUUSD (Gold/US Dollar) through an online platform called MetaTrader 5. This is how it works: 1. I do not take physical delivery of gold - I only trade price movements through contracts 2. The broker provides leverage, allowing me to control...
Q1) Why is it not permissible to eat at homes where the breadwinner works at the bank? A1) It is a known fact that majority of the bank’s income is from interest. Hence, if it is known with certainty that majority of their income is from a Haraam source (i.e. from...
QUESTION: I intend to sell my business, which is now established and profitable, for 20 million. Would it be permissible to sell the business on the following terms: From the 20 million, 6 million is payable upfront. I received an offer for 2 million upfront. I am...
QUESTION: I signed a commercial lease agreement with my landlord for a period of three years. After approximately six months, I experienced severe financial losses due to printing machinery that I had recently purchased. The losses became overwhelming and financially...
QUESTION: My landlord is not VAT-registered but issues me with a Tax Invoice and charges me VAT. Is this correct for him to do? ANSWER: This is a form of deception. It was not permissible for him to carry out such an action. Consider the following Hadith: عن أبي هريرة...
QUESTION: My parents had invested some of our money when we were younger into Vodacom and Telkom shares. I was told that when the dividends are received annually, I should remove 50% due to interest, and use the remaining 50%. I now intend on selling the shares to use...