Q1. A customer had agreed to pay me for a car bought in instalments over two years. For the duration of the two years, the car would still be under the seller's name and the log book was going to remain by the seller as well. However, the buyer fraudulently acquired a...
QUESTION: I am seeking guidance regarding the Shari' compliance of forex trading. I would like to present my situation clearly to receive proper advice. Key Considerations Forex Accounts: I understand that trading with personal live funds may involve certain forms of...
QUESTION: My mother had invested money with Amaanah a while back. She has been trying to sell the shares but it's proving to be a challenge at the moment. Is it permissible to use any income derived from it? ANSWER: If the money was put into such an investment which...
QUESTION: Person X was selling an investment product or helping clients sign up for company A. Company A was doing very well for 2 to 3 years. After 3 years, company A started experiencing problems and stopped payouts. Person X had no Mushaarakah deal with any...
QUESTION: Is it permissible to invest in crypto currency or trade with Cryptocurrency? ANSWER: Our Darul Ifta has reservations in regards to the Shariah compliancy of Cryptocurrency/Bitcoin. We therefore advise abstention. Consider the following Hadith: عن النعمان بن...
QUESTION: Is it permissible to sell dog food? ANSWER: If all the ingredients from which the dog food is manufactured is 100% Halaal, then it will be Halaal to buy and sell the product, otherwise not. نهي رسول الله صلي الله عليه وسلم عن ثمن الكلب وهذا التحريم كان اذا...
QUESTION: I had the opportunity to purchase stock from a broker on credit and sell it to a customer on credit as well. The customer agreed to pay me after one or two weeks, giving them enough time to fulfill their payment. Once I received the payment, I made sure to...
QUESTION: Are we allowed to take out an extended warranty on a vehicle when the current warranty is expiring? ANSWER: Purchasing an extended warranty for one’s appliances or vehicle is tantamount to purchasing insurance, which is Haraam. The elements of gambling and...