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2
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2answers
197 views
+50

Is interest entirely haram or can there be exceptions under neccesity?

A query in similar to a question posted on this site (Is interest-based educational loan allowed? ) (this may seem like a similar question, but from a clear angle). Allah says: “Those who devour ...
0
votes
1answer
52 views

How halal banks give private consumption loans that don't earn profits?

While searching for "How did Muslims operate Halal banks if there is no interest". I came to know that banks take some portions/share of profit. My question is that, how do they manage the share or ...
3
votes
1answer
37 views

Rulings on giving employees equity in a company

I am in the process of joining a start-up and they are offering me equity in the company (5%). Information on Islamic Finance and business dealings is scarce on the web (aside from the general stuff) ...
3
votes
1answer
142 views

What does Islam say when the husband barely provides for the expenditure and expects the wife to take the financial burden?

I earn more than my husband. My husband's family is needy too. He send half of his earning to his family. But I am the person responsible for house, bills, food etc important for life. He pays ...
2
votes
1answer
46 views

Is it necessary for the mudarib to reveal his dealings to the rab-al-mal?

In a mudarabah-based business, does the rab-al-mal have the right to know which businesses the mudarib chooses to invest the capital in? If, for example, the mudarabah contract clearly requires the ...
3
votes
2answers
107 views

Does something bought have to be physical?

The question Is real (physical) money traded during online trading? says In Islam, it is a common ruling that the product that a person buys should exist physically. It seems to me that this ...
2
votes
0answers
175 views

What is the ruling on project based jobs?

My question is regarding project based jobs. Most of the time when we are on projects we get projects from multiple clients. For example Case 1 : Abdullah got employed by a private consultancy ...
2
votes
0answers
128 views

What is money in Islam?

What is considered currency in Islam, can gold coins , foodstuffs be used as currency? and are these modern bank issued paper notes shariah compliant currency?
0
votes
1answer
104 views

Can Amazon.co.uk MasterCard be used in a Halal way?

Amazon.co.uk MasterCard provides a loyalty scheme that rewards buyer for almost every purchase. What is Haram in Amazon.co.uk MasterCard? Can this service be used in a Halal way?
3
votes
1answer
311 views

Islamic investments

I've been reading about the Islamic stock market and have been looking at some of the companies in some of the Islamic indexes and/or Islamic funds. I have noticed that they include companies which ...
3
votes
1answer
154 views

Are monthly payments an Islamically acceptable way to receive money for your goods?

Im sure not many people will agree to such a purchase, but if I went out and bought a phone for $500, with the intention of making a profit, and advertised it as: Pay monthly installments for this ...
4
votes
1answer
910 views

Are islamic Funds and/or ETF's really halaal investments?

According to iShares: The MSCI World Islamic Index offers exposure to stocks from the MSCI World Index which comply with Shariah investment principles. I don't get it, the ETF LSE:ISWD ...
2
votes
1answer
107 views

Shares in company which manufactures non haraam products

If I become a partial owner of a company via investment, i.e. I buy 100 shares in a company which gives me 1% ownership. If the company sells non haraam products, i.e. metal, but has a loan on which ...
5
votes
2answers
198 views

Is it halal to loan out money which people save in your bank?

Original idea from here. My question is, is it halal to loan out money which people save in your bank? Let's say we have an online website. People can 'lend' money to the website (no interest), and ...
15
votes
4answers
36k views

How do Islamic banks make money if interest is prohibited?

I know that Islamic Banking involves the prohibition of interest based loans. But how do Islamic Banks make profit if they charge no interest?
10
votes
1answer
1k views

Can a Muslim borrow money from his own 401(k) plan, with interest?

I understand from this, and other related questions, that Muslims are not permitted to charge interest on loans. This brings up a question for me: In the U.S. many people have 401(k) retirement ...
4
votes
1answer
2k views

Zakat Calculation : Mortgage

I originally asked this question which I am splitting up. Mortgage: Should all of the amount be treated as loan hence reduce from net worth, or only calculate what you need to pay in a year? I found ...