QUESTION: I have a Retirement Annuity Fund which has already matured, but I have chosen not to cash it in until I turn 65 years old. According to the South African Pension Funds Act, I am unable to transfer the fund onto my wife's name, however, I can make her the...
QUESTION: Is it permissible to invest in Islamic Sukuk? ANSWER: Sukuk are Islamic financial certificates that mirror bonds in western finance but adhere to Shari'ah principles. Unlike traditional interest-bearing bonds, Sukuk involves selling certificates to...
QUESTION: Please advise if it is permissible to finance a vehicle via An-Nahl Finance. They describe their financing model as follows: FINANCE The finance is not a loan given on interest, it is a sale of commodities (motor vehicle, stock, equipment, property, etc.)...
QUESTION: Is the practice of not marking items for sale with prices on them, permissible in Shari'ah? ANSWER: Prices not being placed on items in a store can lead to disputes hence, it will not be permissible for store owners to operate in this manner. قال العلامة ابن...
QUESTION: I have family members who work for insurance companies, so will it be permissible to eat at their homes and accept gifts from them? ANSWER: In principle, if it is known with certainty that a majority of their income is from a Haraam source (i.e. from the...
QUESTION: Is trading with Forex or Meta Trader using a broker permissible? ANSWER: Forex trading contains many aspects which go against the principles of Shariah inter alia gambling, interest, not taking possession of the currency. Hence, it will not be permissible to...
QUESTION: Will it be permissible to invest money in Al Baraka bank's investments, more specifically, in Al Baraka's Tax-Free investment? Profit is earned in the following way: The bank earns a profit from its financing activities which are carried out on the basis of...
QUESTION: A company we have been supplying for many years has employed a new buyer who has drastically reduced purchases from us by about 70% and split it with another supplier. This reduction has affected us greatly. Is it permissible to offer the buyer an incentive...