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Questions tagged [money]

Currency; which is accepted as an exchange for goods and services.

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18 votes
1 answer
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Is Bitcoin a halal investment instrument?

Is the Bitcoin internet currency halal, considering the fact that it has no intrinsic value and is almost randomly mined? There is chance (?) and hence could be interpreted as gambling. Excessive ...
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10 votes
8 answers
21k views

Did prophet Muhammad live a simple and humble life who had limited means?

We have been taught in schools that the Prophet lived a very simple and humble life. That is he hardly have enough food at home so that it would not last for the day. He would have patches in his ...
muslim1's user avatar
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10 votes
2 answers
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How much Sales Profit is acceptable in Islam?

I've heard that selling something for more than its worth is a sin according to the Quran. I would like to know, by how much can you mark up your items? Is there a limit to the amount of profit you ...
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10 votes
3 answers
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If someone is poor, can he/she use pirated software?

I'm poor and I don't have a way to actually use credit cards to buy software. However I really need those software for my education. Also there are books which are too expensive so I download them ...
user8124's user avatar
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8 votes
1 answer
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What is the Shia justification for khums?

I would like to know about the justifications for khums as understood by Shi'a scholars. Their definition doesn't seem to appear in Quran, so I am wondering where it comes from. In particular, do we ...
Kaveh's user avatar
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8 votes
2 answers
36k views

Are competitions haram?

I've heard that all contests and competitions that have prize money are haram. The Prophet (Sallallahu Alaihi wa Sallam) said: No contest is allowed except in swordplay or horse or camel racing.[0] ...
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6 votes
1 answer
138 views

Asking for more than the agreed upon labor cost?

Today I rode a rickshaw. After reaching my destination, I asked the driver how much the fair was. He asked for an impossible fare and wanted extra money for "the waiting"(which was still too ...
Sunny's user avatar
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6 votes
1 answer
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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
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6 votes
5 answers
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Is income earned from a country one is not allowed to work in haram?

My father works and earns money in a country where he is not allowed to work because he is not a national of that country. Is his income halal or haram?
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5 votes
1 answer
1k views

Is my salary halal given that it's paid from an account which mixes money earned from a bar?

I'm working in a golf club as a security supervisor. There is a bar in the golf club, but I'm not at all involved. However, the golf club makes money from landscape, the bar and from golfing. At the ...
bosaad's user avatar
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5 votes
2 answers
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Is it haram to build a temple management software application?

I am looking for a job change, I had an interview and got the offer letter. The project for which they're hiring me is a temple management system, I'm feeling that it is haram to work on it, but I ...
Abdul Mateen Mohammed's user avatar
5 votes
1 answer
7k views

Is mining bitcoins riba? Is it haram for some other reason?

Bitcoins can be acquired by 'mining' them, where a computer generates codes and if they're valid you going that bitcoin. Is this equivalent to Rica/interest? Is it haram from some other means?
PracticingFerret's user avatar
5 votes
4 answers
15k views

Is it ok to pay interest debt with interest money?

Assalaamu aleikum, this query has been on my mind for quite a while now. I was wondering if it is ok to pay interest debts with interest money. For instance, I have a few friends who's bank accounts ...
Najeeb's user avatar
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5 votes
2 answers
835 views

Fixed return of invested money in manufacturing plant

Assalam, I had invested money in oil manufacturing plant where the owner gives me fixed return on invested money. The agreement is working since three years. Is it halal to accept that income ...
saleem's user avatar
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5 votes
1 answer
284 views

Is it halal to select an exchange rate to benefit my salary?

I am working in a company where I need to submit the daily expense bills in the system for my salary. My company has fixed my salary (e.g. 10000 Yen/month) and they says that my bills should not ...
AR036's user avatar
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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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5 votes
2 answers
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What to do with money earned as a musician performing gigs at venues which serve alcohol?

I'm a socially conscious musician. I rhyme about things that occur in society in order to bring awareness. I don't swear in my music nor do I encourage anything that is un-islamic, in my lyrics. A lot ...
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4 votes
3 answers
4k views

Accepting money from non-muslims for charity

I have a doubt with getting money from non-muslims. Me and my friends just started a group ( a charity group to help and feed poor people in our area). Some of my non-muslim friends also have much ...
ajmalmhd04's user avatar
4 votes
2 answers
8k views

Contract for Difference (CFD)

UPDATE 1: So those sharia compliant CFD's, how are they different interms of gambling from the non sharia complient CFD's? As even the non sharia complient CFD's have no interest if you don't hold ...
oshirowanen's user avatar
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4 votes
3 answers
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How to ratio passion for profession and passion for Islam?

Sometimes I get passionate about religion and sometimes about my profession. It's hard to maintain a balance, sometimes I am totally religious and I am left with little interest in my work and money. ...
eadam's user avatar
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4 votes
2 answers
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What should be the intention and practices for Sadaqah?

I have 2 questions about the intention one should make when giving sadaqah, and hope someone here knows the answer. Is there a recommended intention one should make when giving sadaqah? Is it ...
oshirowanen's user avatar
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4 votes
2 answers
7k views

Is it permissible to earn money from painting cityscapes and scenery?

I am a painter and I paint cityscapes and scenery that does not have any living being in it such as people, animals or any other thing. I just paint sea, sky, buildings, flowers etc. With the ...
Mahira's user avatar
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4 votes
1 answer
6k views

Are tips allowed in Islam?

My brother owns a takeaway and my other brother works there sometimes. Sometimes I have to do deliveries and I get tips but my brother doesn't pay me nor do I get a salary. The only money I earn is ...
Muslim_1234's user avatar
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4 votes
2 answers
230 views

What are the duties of wealthy aside from zakat?

I read a hadith which says that there are other duties on a wealthy person other than zakat, well I am wondering what those duties might be. The Hadith: Fatimah bint Qais narrated that : she asked ...
مجاهد's user avatar
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4 votes
1 answer
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Is participating in the game show "Deal or No Deal" haram?

There is a game show called Deal or No Deal, where people are presented with a number of boxes containing unknown amounts of token money, and the contestant has to try and eliminate boxes which have ...
Larry Harson's user avatar
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4 votes
3 answers
4k views

Are arcades considered haram?

Asalam wa alakum, well my close friend is celebrating her birthday party, and we are going to the arcades(you know where you pay to play games, then you win a prize and there is also bowling there) so ...
user4736's user avatar
4 votes
1 answer
94 views

How does zakaat work with pension schemes?

Apparently in the UK, work based pension schemes will become obligatory in 2014. I have done a little research in this and it is possible to choose a company you want to invest in, allowing you to ...
nami's user avatar
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3 votes
2 answers
1k views

Is it acceptable to accept donations from haram money cards?

We all know that credit cards and similar money cards are haram, so would it be haram to accept donations from such cards?
مجاهد's user avatar
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3 votes
1 answer
2k views

What to do if I can't find the person whom I'm indebted some money to?

I am indebted some money to a person whom I can't find. This debt is a headache to me. I've looked for this person for some years now, but still no trace!!! What should I do in this situation? I'm ...
Alamgir's user avatar
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3 votes
3 answers
10k views

Is it ok to buy a vehicle via an equated monthly installment (EMI)?

Is it ok to buy something via an equated monthly installment (EMI)? For example, I am planning to buy a vehicle which is of cost around 50,000(INR). If I can't afford 50,000 outright, I have other ...
Aღmirkhan's user avatar
3 votes
2 answers
775 views

Is paying interest allowed in Islam? How would Muslim navigate western finances, where basically everything has interest?

So I know that being the receiver of interest payments is not allowed in Islam. That said, is paying interest allowed? For example, would a Muslim be able to buy a home with a loan that charges ...
Sidney's user avatar
  • 273
3 votes
1 answer
473 views

Is profit from bank on your money is halal or haram?

As we saved our money in bank e.g( national-saving bank) for a period of 4 to 5 years and we get profit on that money according to our savings. Is that profit on our money is halal or haram as because ...
Kiran Zahoor's user avatar
3 votes
3 answers
8k views

Are we allowed to save money in Islam?

I've heard that Allah does not like someone who stores his money and do not spend on poor. I think this is based on the verses 104:1-2: Woe to every scorner and mocker Who collects wealth and ...
Hammad Nasir's user avatar
3 votes
1 answer
496 views

What is the ruling on giving orphans inheritance after our death?

I am aware that Islam encourages looking after the orphans. It also prohibits giving your own lineage in place of their original lineage (through a change in surname). But what is the ruling related ...
Ahmed's user avatar
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3 votes
1 answer
1k views

If a supplier offers commission to a purchaser, is it halal?

I am working in company as an admin officer in UAE. Our company has 15 vehicles. I have to make insurance for all vehicles which is mandatory in U.A.E. The two insurance companies offered me same ...
zeeshan munawar's user avatar
3 votes
4 answers
8k views

Is it halal to give commission or gifts to clients to get contracts?

I have a client who has asked for commission from our company in order to give us the yearly contract for their hospital systems maintenance. If I don't give it to him, then he will definitely ...
Zuheb Zahid'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
3 votes
1 answer
1k views

Is fiat currency devaluation via inflation a form of interest, making fiat currency based money haram?

Since almost all currencies used today are fiat currencies with no real intrinsic value, and since most fiat currency devalue, is it really interest when any money bearing this interest is itself ...
0tyranny0poverty's user avatar
3 votes
1 answer
583 views

Zakat on annual savings

I started paying zakat last year, 2012. In it I paid $2,500 zakat on a $10,000 saving. This year, 2013, my savings have increased to $12,000. Should I now pay zakat on $12,000 or only the net ...
E.J.'s user avatar
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3 votes
0 answers
442 views

Lying in the Job C.V and haram money

Firstly, I was wondering previously that many people lie about themselves in their job CV. As the person is getting job on the basis of his/her qualifications in the CV. So, as he is getting hired on ...
Abul Monsur's user avatar
3 votes
0 answers
131 views

Is earning through the foreign exchange market (forex) halal? [duplicate]

Foreign exchange involves trading of different currencies in order to make a profit. Does the additional amount count as interest or is it halal?
Ahmed's user avatar
  • 4,039
3 votes
2 answers
273 views

Is it permissible to make a charitable donation in advance knowing that interest amount will be credited in my bank at the end of year?

Is it ok to make charity today (ie. in advance) knowing that exact interest amount that shall be credited in my bank account at the end of year?
mod's user avatar
  • 131
2 votes
2 answers
681 views

Would accepting a Christmas bonus make me hypocritical?

I am someone who only celebrates 2 eids (celebrations), and don't recognize Xmas or even say happy holidays etc. Now, would it be hypocritical of me to accept Xmas bonus? Also, if it is, could I ...
Honinbo Shusaku's user avatar
2 votes
4 answers
386 views

Is islam compatible with Capitalism?

Capitalism is an economic system in which capital assets are privately owned and goods and services are produced for profit in a market economy. Source: http://en.wikipedia.org/wiki/Capitalism ...
user3550's user avatar
  • 2,081
2 votes
1 answer
78 views

What is the poverty over the Jews?

They have been put under humiliation [by Allah] wherever they are overtaken, except for a rope [i.e., covenant] from Allah and a rope [i.e., treaty] from the people [i.e., the Muslims]. And they have ...
user avatar
2 votes
1 answer
101 views

Is anyone at fault for money containing images?

Many world currencies contain images, e.g., the Saudi riyal has an image of King Abdullah. When asked about the use of money with images on them, Islam Q&A wrote: Images on money are not your ...
Rebecca J. Stones's user avatar
2 votes
3 answers
234 views

Can I still be a true Muslim if I am rich or trying to be rich?

Many of my Muslim friends say they are not interested to acquire rich but their actions do or show the exact opposite of their words. My question is can I become a millionaire plus being in a pure ...
tester's user avatar
  • 43
2 votes
1 answer
721 views

Can I eat something from Non Muslim when it could be a chance that it is from Interest Income

I am working in private company where everyday I get an offer to eat something which they brought from their home-town or somewhere else. Actually when interest credited in my account, I take it and ...
user2807505's user avatar
2 votes
1 answer
153 views

The priorities of giving donation

I wonder what is the best manner to donate money, especially in these holy days, should donations be given as important amount, or it could be divided to reach the maximum of persons, as a result the ...
geogeek's user avatar
  • 203
2 votes
1 answer
346 views

Can I use interest to earn back money lost from inflation?

I live in a country that suffers from a high rate of inflation. I understand that interest is haram (this is not questioned). But when 100 money is worth 90 money the next year, surely I should be ...
Servantofallah's user avatar