Transactions

December 28, 2024 1 min

Can I Rent Commercial Property to a Bank That Deals in Interest? – Shaykh ...

Answered by Shaykh Abdul-Rahim Reasat Can I Rent Commercial Property to a Bank That Deals in Interest? Shaykh Abdul-Rahim Reasat discusses the permissibility of renting commercial property to banks involved in interest-based transactions. Learn the rulings related to such agreements. Shaykh Abdul-Rahim Reasat began studying Arabic Grammar and Morphology whilst studying for a degree in […]
December 25, 2024 3 mins

Do I Have to Pay Zakat on Life Insurance?

Answered by Mawlana Ilyas Patel Question My husband and I have life insurance intended for our severely disabled child’s trust. Is it true that life insurance must be divided among all heirs? Due to government restrictions, most of the trust may be limited to government-approved expenses, making zakat payments difficult. If zakat cannot be taken […]
December 25, 2024 1 min

Should I Strive to Pay Off My Interest-Based Student Loan Sooner?

Answered by Shaykh Yusuf Weltch Question Should I continue with the automatic deductions on my interest-based student loan, given it will be canceled after 30 years or upon death, or should I strive to pay it off sooner? Answer In the Name of Allah, the Most Merciful and Compassionate It is incumbent upon the Muslim […]
December 21, 2024 3 mins

Is It Permissible for Me to Offer a Raffle to My Customers?

Answered by Mawlana Ilyas Patel Question I run a business selling luxury goods and am considering offering a raffle where everyone wins either a high-value prize or a guaranteed item, like a luxury wallet. Is this permissible? Answer In the Name of Allah, the Most Merciful and Compassionate I pray you are in good faith […]
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