Answered by Shaykh Muhammad Carr Question Federal employees can enroll in a Spousal Survivor Pension Plan, distinct from a 401(k). Under this plan, the employer deducts 10% from the retiree’s monthly pension. In the event of the retiree’s death, the surviving spouse receives 50% of the retiree’s pension for the remainder of their life. However, […]

Answered by Shaykh Muhammad Carr Question Is it permissible to sell a distressed property at a higher price without owning it, and take the difference as profit while giving the seller their original asking price? Answer In the Name of Allah, the Most Merciful and Compassionate. I pray you are in good faith and health. […]

Answered by Shaykh Muhammad Carr Question I’m a day trader, and I only trade Shari‘a-compliant stocks. I do not use leverage and only trade with my deposited amount. Additionally, I don’t hold positions overnight. However, I still need to use a margin account for day trading. The profits on my platform take T+1 to settle, […]

Answered by Shaykh Muhammad Carr Question In my country, there’s a system called ƏDV, which allows people to scan purchase receipts and receive a small percentage of the amount spent as a Value Added Tax (VAT) refund. Some customers decline to take their receipts, so stores often collect and discard them—sometimes by throwing them away, […]