FILED UNDER: ANS General Counsel, ANS Transactions, ANS-General, ANSWERS (Parent of ANS blog)
TAGGED WITH:: business, community, ethical business practices, halal income
/by Yousuf PatelShaykh Abdurrahim Reasat answers the question if it is permissible for Muslims to open a cyber lounge as a business. Question: Peace upon all of you with God’s mercy and blessings. I am trying to make better decisions in life and improve myself. I recently rented a store with a friend and been thinking […]
FILED UNDER: ANS Halal and Haram, ANS Hanafi Fiqh, ANS Transactions, ANS-General, Commanding the Right and Forbidding the Wrong
TAGGED WITH:: bank interest, commercial banks, conventional bansk, interest, musharaka, riba, shari'a, usury
/by YusufUstadh Tabraze Azam is asked about receiving start-up funding from a bank that deals in riba. I am a revert to Islam doing my Bachelor’s in Computer Science and have been given a project in my field of study by a start-up (let’s call it X). X works in the domain of Computer Science. The […]
FILED UNDER: ANS Halal and Haram, ANS Hanafi Fiqh, ANS Jobs and Income, ANS Transactions
TAGGED WITH:: betting, forex, forex trading, interest, interest bearing transactions, leveraging, margin trading, spread betting
/by YusufShaykh Abdul-Rahim Reasat answers a question on the legality of margin trading. Can you please confirm if margin trading is permissible? This is where you predict if the market will go up or down by using leverage positions. Thank You. I pray you are well. Margin trading is not permissible for a number of reasons. […]
FILED UNDER: ANS Hanafi Fiqh, ANS Repentance, ANS Sacrifice, ANS Sunna, ANS Transactions, ANS-General
TAGGED WITH:: death, diya, expiation, kaffara, manslaughter, murder
/by YusufUstadh Tabraze Azam is asked about paying blood money and expiation due to the accidental death of someone. If a Muslim is involved in a traffic collision which results in the death of an individual is he liable for diya and kaffara? Usually, if a person unintentionally kills another, he is expected to pay the […]
FILED UNDER: ANS Halal and Haram, ANS Hanafi Fiqh, ANS Sunna, ANS Transactions, ANS-General
TAGGED WITH:: financing, interest, interest bearing transactions, zero percent financing
/by YusufUstadh Salman Younas answers a question on the permissibility of working for a car dealership that at times offers financing for purchases. Question: Assalam alaykum wa rahmat Allah wa barakatuh. I had a question regarding working in a car dealership. I would be selling cars and earn base salary plus commission. The people buying the […]
FILED UNDER: ANS General Counsel, ANS Halal and Haram, ANS Living Religion, ANS Transactions
TAGGED WITH:: borrowing, chit funds, creditors, debtors, halal and haram, interest, riba
/by YusufUstadh Salman Younas is asked whether chit funds, the practice of pooling money and deciding who should receive the funds by lot, is permissible. Question: Assalam alaykum wa rahmat Allah wa barakatuh. I want to know if chit funds are allowed in Islam. I’m referring to a chit fund where a group of people pool […]
FILED UNDER: ANS Hanafi Fiqh, ANS Transactions
TAGGED WITH:: intellectual property
/by sufyanAnswered by Ustadh Tabraze Azam Question: Assalam alaykum What is the ruling of intellectual property rights? Answer: Wa alaikum assalam wa rahmatullah, Intellectual property is a legally recognised right afforded to the respective authors or inventors. This is the conclusion of many individual, senior contemporary jurists and also various fiqh academies from across the Muslim […]
FILED UNDER: ANS Hanafi Fiqh, ANS Transactions
TAGGED WITH:: mortgage
/by sufyanAnswered by Ustadh Tabraze Azam Question: Assalam alaykum Are house mortgages permissible? Answer: Wa alaikum assalam wa rahmatullah, Generally, mortgages from conventional, usurious banks are going to be impermissible as they stipulate the kind of increase in a loan contract which was expressly prohibited in the Qur’an. Allah Most High says, “O believers! Fear Allah, […]
FILED UNDER: ANS Hanafi Fiqh, ANS Transactions
TAGGED WITH:: cat food
/by sufyanAnswered by Shaykh Abdul-Rahim Reasat Question: Assalamu alaykum Is it permissible to purchase cat food? Answer: Wa ‘alaykum as-salam I pray you are well. Yes, it is permissible to purchase cat food and feed it to a pet cat, even if it contains unslaughtered meat. Usually, it is impermissible to buy unslaughtered meat and impure […]
FILED UNDER: ANS Hanafi Fiqh, ANS Transactions
TAGGED WITH:: currencies, riba, usury
/by sufyanAnswered by Shaykh Umer Mian Question: Assalamu alaykum I get paid at work in a foreign currency and I always have to convert my salary to our local currency. I am trying to ensure I am not engaged in usury so I am confused on what rate I should use for the conversion. Shall I […]
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