Trade
Answers and pages filed under “Trade” on SunniPath.
66 pages
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Trading in currencies
Shaykh Muhammad ibn Adam al-Kawthari
Is it permissible to buy and sell currency in the foreign exchange market with the intention to make a profit based on mathematical models and economic forecasts?
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Interest-bearing Loans, Trips, and Limits
Shaykh Faraz Rabbani
Let's say someone has an interest-accruing educational loan. As every day passes, the amount of interest grows, to what lengths must such a person go in paying off this debt?
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Interest, Riba, and War
Shaykh Faraz Rabbani
1. Is charging a percentage equal to the rate of inflation on loans haram (i.e. considered riba?). For example, if I lend someone $10,000 and they repay me $10,000 10 years later they actually repaid me less than what I …
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Investing in the Stock Market
Shaykh Muhammad ibn Adam al-Kawthari
I would like to know if it is ok to invest in the stock market, or work as a stock broker Answer In the Name of Allah, Most Gracious, Most Merciful In the name of Allah, Most Compassionate, Most Merciful, To invest in th…
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Is Deducted Life Insurance Money Halal? Please Explain
Shaykh Abdurrahman ibn Yusuf Mangera
Can one take the money of Life insurance (when the time comes) when the money that is used to pay for this insurance is automatically deducted from one's pay?
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Is it haram to use credit cards?
Mufti Muhammad Taqi Usmani
Is it impermissible to use credit cards? Is it not riba and haram? But how do I avoid it? Is it even haram to acquire without using? What about the bank fees? Is it not ribaa in tasteful clothes?
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Is it permitted to take inflation-adjusted loans?
Shaykh Muhammad ibn Adam al-Kawthari
When starting University in the UK, you can take out a student loan from the Local Education Authority (LEA). The LEA claim the student loan has zero percent interest.
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Islamic Investments: Shari'ah Principles Behind Them
Mufti Muhammad Taqi Usmani
Islamic Investments: Shariah Principles Behind Them Answer In the Name of Allah, Most Gracious, Most Merciful Islamic Investments: Shariah Principles Behind Them Shaykh Muhammad Taqi Usmani, one of the top Hanafi fuqaha …
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Islam's position on prevalent forms of insurance
Shaykh Muhammad ibn Adam al-Kawthari
The imam at our mosque said today in his sermon that Insurance is 'haram'. His explanation was that you can't benefit / profit yourself against something that is hidden, i.e. isn't yet known. Could you please provide som…
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Making Claims on One's Car Insurance
Shaykh Abdurrahman ibn Yusuf Mangera
In UK you have to have car insurance if you own a car. As a law I know that you have to have a car insurance. Now if you have an accident can you make a claim?
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Mortgages in Cases of 'Need'?
Shaykh Faraz Rabbani
I have read about the above two subjects and spoken to a number of contemporary alims of the hanafi azhab but still confused - I have also noted Mufti Taqi Usmani's contribution.
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MUFTI TAQI: Can Interest Income Be Applied Toward Taxes?
Mufti Muhammad Taqi Usmani
As a self employed person working in the main for UK public departments, my earnings are all paid directly into a UK bank account. As these sums build up, interest is accrued in the usual way.
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My father's earnings
Shaykh Faraz Rabbani
My dad has a lawful job but he also takes riba from the bank. And he always buys me stuff. Am I allowed to accept anything from him? Because I don't know whether the thing he bought me is from his income or the riba beca…
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Premium Bonds
Shaykh Muhammad ibn Adam al-Kawthari
What is the ruling on Premium Bonds according to Hanafi Fiqh?
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Raising the Veils from the Fiqh of Sales
Shaykh Faraz Rabbani, SunniPath Academy Teacher
Answer Based on al-Majalla and some of its commentaries. Definition of a Sale: exchange of something of value for something of value.
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RE: Insurance Claims
Shaykh Abdurrahman ibn Yusuf Mangera
I have to pay a certain sum in insurance every year. I had to pay a bill recently for some work to the flat because of a leak. My mum contacted the insurance company and they sent a check for the amount.
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RE: Loans, money and homes
Shaykh Faraz Rabbani
If a person is systematically paying back an interest-bearing student loan on a monthly basis and then comes across a large sum of money (that would clear the loan), is the person obligated to pay back the loan in its en…
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Riba in the West
Shaykh Faraz Rabbani, SunniPath Academy Teacher
Could you please throw more light upon the statement in Sh. Nuh Keller's 'Reliance of the Traveller', whereby it is stated that it was the position of Imam Abu Hanifa that it is permissible to receive interest from non-M…
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Sending Clients to a Collection Agency
Shaykh Muhammad ibn Adam al-Kawthari
Is it permissible for a Muslim to send delinquent clients without standing accounts to a collection agency when it is possible that the said agency will charge interest to the individual if they do not pay within a certa…
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Shaykh Buti on Riba (usury) in the West
Shaykh Muhammad Sa'id Ramadan al-Buti
We live in a country, which is based on transacting with interest, and we are unable to do anything without getting involved in making use of it.
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Can a Sick Relative use my Insurance?
Shaykh Abdurrahman ibn Yusuf Mangera
Can I let a sick relative without insurance use my insurance plan, because they do not have insurance and cannot afford to pay for their treatment and medicine?
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Student Loan to Cover Credit Card Bills?
Shaykh Faraz Rabbani
If an institute like a university offers students loans while they attend school, and will not charge interest until after 6 months of graduation, is it ok to take the money.
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Why is Riba, such as bank interest, forbidden? Are there alternatives in Britain?
Shaykh Muhammad ibn Adam al-Kawthari
Why is Riba, such as bank interest, forbidden? Are there alternatives in Britain?
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Working as a security guard to guard a bank
Shaykh Faraz Rabbani
Please could you give me the ruling of fiqh for a person who is working for a security company which has many clients including banks and Insurance companies i.e.
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Seeking employment using forged degree
Shaykh Muhammad ibn Adam al-Kawthari
I spoke to someone who had cheated in their degree. They want to know whether they can now gain employment using the degree and if they do, does it make their income haram. How should one repent over this?
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Online Sales
Shaykh Muhammad ibn Adam al-Kawthari
I’m thinking of starting an online PC shop. Consumers would see PC’s on my website and if they buy any, they pay for it straight away. However I would only buy the relevant parts after I have received payment from the co…
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Giving Funds Raised By Our Islamic Society To Non-Muslim Charities, As Well
Shaykh Faraz Rabbani
The Islamic society at my university is planning to raise money towards the Tsunami relief efforts.
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Buying Shares With The Intention Of Capital Gain
Shaykh Muhammad ibn Adam al-Kawthari
Buying Shares With The Intention Of Capital Gain Answer In the Name of Allah, Most Gracious, Most Merciful In the name of Allah, Most Compassionate, Most Merciful, Shares from the stock market are generally purchased for…
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What is the Islamic legal verdict on the taking out of a 403K?
Shaykh Abdurrahman ibn Yusuf Mangera
What is the Islamic legal verdict on the taking out of a 403K?
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Bank Employment
Shaykh Muhammad ibn Adam al-Kawthari
Bank employment Answer In the Name of Allah, Most Gracious, Most Merciful In the name of Allah, Most Compassionate, Most Merciful, As explained in an earlier answer, the principle concerning employment in a bank (or any …