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2 votes
1 answer
10k views

Is it permissible to work in a financial institution, if you work in a role that does not directly deal with riba?

I am a Muslim undergraduate student in the US who is contemplating career options and thinking about the finance track that a lot of undergrads gravitate towards (positions in investment banking or ...
geph89's user avatar
  • 59
4 votes
4 answers
19k views

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 ...
Aboudi's user avatar
  • 2,257
1 vote
1 answer
266 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 ...
Suntoxsh Pokhrail's user avatar
4 votes
1 answer
104 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) ...
Ryan's user avatar
  • 181
2 votes
1 answer
456 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 ...
FATEMA BEGUM's user avatar
3 votes
1 answer
96 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 ...
Muneer's user avatar
  • 133
3 votes
2 answers
222 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 would ...
DJClayworth's user avatar
2 votes
1 answer
333 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 (XYZ) ...
Abdullah's user avatar
3 votes
1 answer
719 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?
user avatar
0 votes
1 answer
466 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?
Orion's user avatar
  • 105
5 votes
1 answer
2k 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 ...
oshirowanen's user avatar
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6 votes
1 answer
3k views

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

I'm 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 ...
user3550's user avatar
  • 2,081
7 votes
3 answers
6k 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 (ISHARES ...
oshirowanen's user avatar
  • 2,401
3 votes
1 answer
185 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 ...
user3550's user avatar
  • 2,081
3 votes
2 answers
4k views

If husband and wife are both working, does wife have to contribute money to running the household?

Is it always man's responsibility to run the house? Does wife has to contribute in case where she has a job? What is the situation where husband is jobless and wife is working? What is Islamic ruling ...
muslim1's user avatar
  • 8,260
4 votes
3 answers
691 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 ...
user957's user avatar
  • 41
10 votes
1 answer
268 views

Is it permissable for a scholar to recieve govermental salary?

The Holy Quran in different verses says that the Prophet(PBUH) did not ask any wage for Islam. For example: لِكَ الَّذِي يُبَشِّرُ اللَّـهُ عِبَادَهُ الَّذِينَ آمَنُوا وَعَمِلُوا الصَّالِحَاتِ ۗ ...
Battle of Karbala's user avatar
25 votes
4 answers
108k 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?
Abbas Gadhia's user avatar
  • 1,301
12 votes
1 answer
5k 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 plans, ...
Flimzy's user avatar
  • 3,401
6 votes
1 answer
7k views

What is Mudarabah in Islamic Banking? How is this different from traditional banking?

I believe that the Islamic Banking system is pure from impurity of Riba (interest). But some of the Muslims do not see any difference between the Islamic Banking and traditional interest based ...
Anwar's user avatar
  • 1,132
4 votes
4 answers
9k views

Does Islam Permit Tax Evasion?

Given a question on how an Islamic state handles tax, I'm sure some people are wondering: does Islam permit tax evasion? Tax evasion refers to "trying to get out of paying tax that you rightfully owe,...
ashes999's user avatar
  • 9,775
7 votes
1 answer
6k views

Should a mortgage be treated as loan and hence be deducted from net worth when calculating zakat? [closed]

A mortgage loan, or simply mortgage, is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while ...
Nasir's user avatar
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