Transactions

January 11, 2025 2 mins

Is It Permissible to Buy an Apartment If It Involves Contributing to an Interest...

Answered by Mawlana Ilyas Patel Question Is it permissible to buy an apartment in Germany if it involves joining a homeowners’ association that collects monthly contributions into a joint account, which typically accrues interest? Answer In the Name of Allah, the Most Merciful and Compassionate I pray you are in good faith and health. Thank […]
January 11, 2025 1 min

Is It Obligatory to Return a Gift If the Gift-Giver Asks for It Back?

Answered by Shaykh Yusuf Weltch Question Am I obligated to repay a $5,000 gift offered without conditions, now that the giver is indirectly requesting it back, and the money has since been mixed with my savings and partially spent? Answer In the Name of Allah, the Most Merciful and Compassionate If someone gifts you money, […]
January 11, 2025 2 mins

Is It Haram to Approve Payments from a Company Credit Line with Interest?

Answered by Shaykh Muhammad Carr Question  I work in a role where I approve payments from a company credit line with interest, encourage clients to use factoring with interest, and respond to inquiries about letters of credit with interest. Is any of this considered haram and related to riba? ِAnswer In the Name of Allah, […]
January 6, 2025 2 mins

Can Mudaraba Be Employed to Generate Rental Income?

Answered by Shaykh Muhammad Carr Question Is it permissible under Mudaraba for me, as the investor (Rabb al-Mal), to provide funds to the entrepreneur (mudarib) to purchase a vehicle for rental income, considering the differing opinions on permissible business activities, such as trading?  Answer In the Name of Allah, the Most Merciful and Compassionate. Mudaraba […]
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