Trade

Online options trading

Submitted by user2 on Sat, 2019-04-06 08:30

Q: My question is about online options trading. In this we trade between currencies. It is like tearing currency for 1, 5 or 15 minutes. So if the value of the currency goes up in that time frame (which we can predict by doing some calculations and indicators) and if the currency goes down we lose money. It is between two currencies like we trade Euro for USD. We buy USD by paying in Euros and when it is expected to go up in value or USD/EURO. The money transaction is instant and simultaneous. So, if we make a prediction the money is deducted from our account instantly and if we predict rightly we get profit. Mostly we get profit. Can you please guide me is it Halal or Haram?

Software piracy

Submitted by user2 on Sat, 2019-04-06 07:55

Q: My question is about the Software Piracy. I have seen some software/plugins that people have to buy with cash. Though they are paid software, some of the software don't require any serial key/purchase code to use. They can be used only if the user has the software main copy. What if the user don't buy them from a store but get a real copy from the internet. Will using the software be halaal?

Buying and selling cats

Submitted by user2 on Sat, 2019-03-30 07:35

Q: Is it allowed to buy and sell cats in Islam?

Starting an auction business

Submitted by user2 on Wed, 2019-03-27 07:29

Q: Is it permissible for one to be an auctioneer or start an auction business. The only goods that will be auctioned will be halaal and permissible goods.

Purchasing an item with a higher credit price

Submitted by user2 on Wed, 2019-03-13 06:53

Q: Can I purchase a motorcycle on instalments? The original price is 44 500 and on instalments I have to pay 63 000 in 1.5 years on equal instalments of 3000 a month. Is it right or is it sood?

Forex trading

Submitted by user2 on Tue, 2019-03-12 07:35

Q: Is Forex Trading without margin halaal? I mean, if I invest $500 and I trade from this $500 and don't take any loan, will it be permissible? How can I get physical possession on an online platform?

Forex trading

Submitted by user2 on Thu, 2019-03-07 07:06

Q: Is forex trading halaal or haraam? While I use an interest free account, I use a swipe free and no commission account. My broker says its 100% according to Islamic Shariah. Kindly tell me about it in detail.

Trading in old jewellery

Submitted by user2 on Wed, 2019-03-06 06:47

Q: I own a jewellery store. We offer our customers a 'trade-in' service where they bring their old jewellery to us, we evaluate it and determine its worth, and then the customer takes jewellery of their choice to the value of the jewellery that was traded-in.

Is it correct to deal in this manner? If not, how should we conduct the deal?

Charging a fee to withdraw cash from till point

Submitted by user2 on Mon, 2019-03-04 08:14

Q: I am a shopkeeper who sells general merchandise.

Sometimes, people come to my store and want to use their debit card to draw money from my card machine. They will swipe their card in the machine, enter the amount that they want, and thereafter I will take the corresponding amount of cash from my till and give it to them while their bank deposits that amount in my account.

Can I charge them for this service? In other words, can I tell the customer to enter R205 into the machine while I give him R200 in cash? I will make R5 on the service of giving him the cash. Is this permissible?

Charging a storage fee for uncollected items

Submitted by user2 on Mon, 2019-03-04 08:12

Q: I own a manufacturing business where I take orders from customers and manufacture according to their specification. Once their order is prepared, they are notified and given a ten day period to collect the item from our warehouse.

The problem is that many customers delay in collecting their orders. This causes a problem for us as the uncollected orders take up space in the warehouse. In order to avoid this problem, we want to stipulate, at the time the order is placed, that if goods are not collected within ten days, then a stipulated storage fee will be charged for every day thereafter. Is this permissible in Shariah?

Pages