Question I have one question regarding Trade and Industry in Islam and would like it answered with the view of large corporations or conglomerates. Thereafter please feel free to offer any advice to small/medium businesses and even if you would like to refer me to any good source of literature on the acceptable conduct for businessmen within Islam. Question 1 : Is it permissible to regulate the flow of goods and services in order to obtain … [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 took a job as a contractor and got a certain amount of money per job, however one stipulation was to work 8 hours on each job.  Many times I would finish the job a little bit early and just go home.  I'm sure my boss was aware of this, but he never said anything about it or the quality of my work.  However, I am concerned now that perhaps some of my earnings would not be halal due to me not following that part of my contract.  Is … [Read more...]

Question My question is that what should be the basis / principles of profit and loss as per shareeaa in that business?   Answer Muhtaram / Muhtaramah In the Name of Allāh, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāh wa-barakātuh. If a person joined the Salāh when the Imām was in Qadah-Akhīrah, after the Imām makes Salām he will stand up, read Thanā, Ta’awwuz and perform the four missed Rakāts as he … [Read more...]