Answered by Shaykh Muhammad Carr Question I seek clarification regarding proprietary trading models in which the trader operates only on a demo account. No real leveraged trades, interest-based transactions, or financial contracts are executed in the trader’s name. The trader effectively generates trading signals and receives compensation based on performance. In this case, is participating […]

Answered by Shaykh Muhammad Carr Question Must capital gains be purified? If so, can they be offset against capital losses before calculating the purification amount? If offsetting is permitted, may gains and losses be netted against different stocks? Answer In the Name of Allah, the Most Merciful and Compassionate. Thank you for your question. Capital […]

Answered by Shaykh Muhammad Carr Question If the bank agrees to reduce the amount and I pay the agreed-upon settlement, would I be sinful in the sight of Allah for paying less than the original debt? Would this be considered unjustly taking someone else’s money, even though the bank offered the reduction? Answer In the […]

Answered by Shaykh Muhammad Carr Question Is it permissible to keep savings in an XAU (gold-indexed) bank balance that is redeemable at any time only in local currency at the current gold rate, with no physical gold and no interest? Answer In the Name of Allah, the Most Merciful and Compassionate. Thank you for your […]