Question I am a day trader of stocks. Is it permissible to short sell in Islam. Short selling is the selling of a stock that the seller doesn't own at the time of selling them. He sells them in the hope that the price of those shares will decline, and he will profit by buying back those shares at a lower price. Answer Muhtaram / Muhtaramah In the Name of Allāh, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāh … [Read more...]

Question in fazayle sadqat book written by Maulana Zakariyyah there is a story of good man of ALLAH that he recited SURAH-IKLAS many thousand times please tell me his name and the total numbring that he recited pease tell me about the rules of islam in business i purchase a thing in suppose in 20$ when go to sail it in 45$ suppose if the purchaser ask me in which price you purchase it then what itell to him ? please also tell me the other … [Read more...]

Question I have goods the sellingprice per item is R6-00 i give this goods to shopkeepers to sell, they resell the goods at R10-00 per item.after three months they pay me R6-00 and they keep the difference of R4-00. is this permissible? if not please give a solution on how to conduct such a transaction. (2) i have goods the sellingprice per item is R6-00, i give these goods to a shopkeeper and instruct him to sell it at R10-00 with this … [Read more...]

Question Assalamualikum, My question is regarding business of mobile accessories. I am currently selling mobile phone accessories like screen protectors, memory cards, handsfree, memory card readers. I want to ask as nowadays memory cards are used to download movies / film songs etc. and handsfree are used to listen songs, can i sell these goods. Do islamic law forbid selling them?   Answer Muhtaram / Muhtaramah In the … [Read more...]

Question I buy raw material required for production on credit terms for say 90 days in a different currency from a different country. But the currency keeps fluctuating or on most instances my local currency keeps depreciating so as a result when the time to pay comes i have to pay a higher price in my currency whereas the agreed amount is paid in the transacted currency. Please let me know if this is allowed. If not how can we do this … [Read more...]

Question I am working with a company in Middle East which is under construction. Currently all the payments including our salaries are made through Banking loans (interest based). I am working in Finance Department and not 100% involved in managing the loan activities but a part of the team. Is this job is haram or halal for me? And also for employees working in other departments i.e. engineering etc. Answer Muhtaram / … [Read more...]