Questions tagged [money]

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

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3answers
3k 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 ...
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1answer
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Can one give riba to their poor sibling?

If we have siblings who are NOT SO financially fit and need extra help in terms of money then in that case can one sibling being financially sound give his/her riba to the other sibling?
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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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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 ...
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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 ...
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I exchanged some money for another country's money, Can I use that money? [duplicate]

Recently, I got a 10 AUD banknote from someone and as a courtesy, bought him coffee(costing me more than 10 AUD) In another instance, i got 50 Mexican Pessos from someone and again as a courtesy, I ...
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1answer
640 views

Is it permissible to earn money by selling foreign currency or gold?

Nowadays, many people try to find shortcuts to earn money. One such "shortcut" is to carry foreign currency from one country to another and profit by selling the foreign currency. Some people around ...
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1answer
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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 ...
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Is it acceptable to give money I get from attending college to charity?

I receive money from college every week. I want to give this money to my chosen charity. Will this be acceptable? Because I have not earned it; I only get this money if I attend college. So is this a ...
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2answers
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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 ...
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1answer
370 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 ...
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1answer
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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?
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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 ...
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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?
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1answer
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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 ...
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What is the islamic definition of “Excessive”?

What exactly does "excessive" mean in Islam? For example, lets imagine we have 2 people, person 1 and person 2: Scenario 1: Person 1 makes $1000 a month, but in one of those months he spends $600 ...
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Intention to get rid of Riba money?

I have some Riba money in my account. With what intention do I get rid of this money from the list below? Lillah Sadaqah Zakat Sadaqah Wajibah Fidya (Kaffarah) I have been presented with these ...
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1answer
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Are monetary benefits to encourage conversion to Islam wrong?

Is it wrong to encourage conversions to Islam by giving monetary or materialistic benefits as a symbol of support, help and brotherhood? Also, There is a verse in the Quran that defines people who ...
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0answers
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Investment in Islamic Business conglomerate that gives almost fixed returns

We have been investing in Heera Gold an Islamic company which aims to remove interest in society by allowing investment in their mainly gold export import business with an apparently profit sharing ...
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1answer
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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 ...
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4answers
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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 ...
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1answer
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Halal or Haram income sources

Assalamu Alaikum! I am working in a company other than Purchasing Dept. In short if instead of giving my due increment, my immediate management gives me chance to deal with the suppliers to buy ...
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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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1answer
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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 ...
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1answer
133 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 ...
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Is forcing you to buy something to use a mosque permitted?

Does islam allow the sale of things by force? For example: buyer: I would like to use this mosque for prayer purposes seller: No problem, please go to the stall and purchase something for $200, and ...
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1answer
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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 ...
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1answer
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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 ...
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2answers
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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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8answers
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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 ...
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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. ...
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1answer
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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 ...
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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 ...
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1answer
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Are those falsely on benefit considered 'beggers'?

Quoting from another question Islam mandates zakaat to help poor. Zakaat eliminates beggary to an extent but what about habitual beggars who can otherwise earn a living? How should the lazy and ...
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2answers
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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?
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2answers
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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 ...

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