Ref no: 0326# Date: Monday, July 11, 2011, Category Money Matters Title Will it be permissable to enter into such a transaction? Question Respected Mufti Saab I’ve got an enquiry, and hope you can assist me in this regard. My relative has purchased a home and has financed it via a conventional bank. He has approached me to assist him as he says that he realises he has made a serious error by … [Read more...]

Ref no: 0323# Date: Monday, July 11, 2011, Category Money Matters Title We have a premises that is being rented out to a non muslim Question Can you please give me the Shariah ruling regarding the following: We have a premises that is being rented out to a non muslim, who is operating a take away/supermarket/video shop from that premises. What is the shariah ruling regarding the income received from … [Read more...]

Ref no: 0289# Date: Tuesday, June 28, 2011, 2011 Category Money Matters Title Question Can fines be paid wih intersest money Answer Muhtaram / Muhtaramah In the Name of Allāh, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāh wa-barakātuh.   It is not permissible to pay fines with interest money.   And Allah knows best Darul Iftaa Madrasah … [Read more...]

Ref no: 0276# Date: Friday , June 24, 2011 Category Money Matters Title Can you please clarify if this is Halaal or not Question We live in Sydney, Australia, and my wife wants to pursue higher studies in Medicine, for which the government offers an interest-free loan, but with the condition that at the time of repayment any changes that may have occurred in the overall inflation rate will be calculated and … [Read more...]

Ref no: 0270# Date: Wednesday, June 22, 2011 Category Money Matters Title   What is the procedure of home finance according to Shariah Question What is the procedure of home finance according to Shariah. What are the general errors in implementation of the home finance by Islamic Banks Answer Muhtaram / Muhtaramah In the Name of Allāh, the Most Gracious, the Most Merciful. As-salāmu … [Read more...]

Ref no: 0254# Date: Monday, June 20, 2011 Category Money Matters Title   Plz comment on the sharia compliance Question   Plz comment on the sharia compliance of trade finance through Albarakah Bank. I negotiate goods frm a supplier, who issues a proforma invoice in my and alabarakah’s name, the bank frwds paymnt to the supplier of goods and resells the goods to me at a profit and I repay the amt (price + profit) … [Read more...]