Jobs and Income

February 21, 2024 4 mins

Can I Buy Gold or Silver Online?

Answered by Shaykh Irshaad Sedick Question I recently invested in gold and silver and purchased silver bullion through a reputable online website. The process involved placing a buy order and an immediate email reply containing details for transferring the money within one banking day for transaction processing. Due to my lack of awareness, I transferred […]
February 8, 2024 3 mins

Is Prop Firm Demo Trading (Forex) Permissible?

Answered by Shaykh Muhammad Carr Question  I understand why Forex trading is not shari’a compliant. None of those undesirables apply to prop firm demo trading, as you are not trading with real money on the markets. You are not involved in borrowing money, interest, gharar (uncertainty), or gambling. You are being paid based on your […]
February 6, 2024 2 mins

Can I Assist a Franchisee in Securing a Loan From an Advisor?

Answered by Mawlana Ilyas Patel Question I hope you’re doing well. I have a finance question. Currently, we are operating a fast-food franchise system where I, as the franchisor, grant the rights to our brand name, and the franchisee must invest in the business. We have potential interested parties who do not have the capital […]
January 23, 2024 10 mins

Is It Permissible to Impose Late Payment Fees on Customers?

Answered by Shaykh Ahmed al-Ahmed Question Is it permissible to impose late payment fees on customers for installment payments? Answer In the name of Allah, and all praise is due to Allah, and prayers and peace be upon the Messenger of Allah. When a debtor delays repaying his debt at the specified time, he causes […]