Business and Dealings

Q: I have an amount of US Dollars which I purchased at R13.50 to a Dollar. Can I sell the Dollars at a higher price than what I paid for? The US Dollar rate as at today is R14.42

Q: There is a company called 3A Alliance. The comapny take's money from people for investing. They have a motorcycle company called Supreme. They take your money in advance which is RS,21 600. The total amount for the bike is RS,36 000 and they say that after 35 days we should come take the bike or sell it back to them. It means that they sell it to other wholeseller's across the city and once you have invested this Rs,21 600 amount they order a bike by your name every month and sell it to other's and give you some of the profit which is Rs,3500. It sometimes goes up and down every 2/3 month's

Is this halaal or haraam? The company also deals with other home appliannces like TV, refrigrators, water purifiers and they also say that if you don't like our company you can take whatever it is you have invested.

Q: Is Forex trading allowed in Islam?

Q: I am working for a Muslim family in their warehouse for more than 5 years. I have never been on holiday nor been paid for working in the holiday. When I asked them they told me that my 5 year holidays were gone (as per the law in our country). I know that by Allah, no right can be lost.

Note: Over these 5 years I thought I don't have a right of holiday as I work a few hours a week. No one from this family told me that I have a right for holiday. 

Q: I am residing in a rented house for the last 3 years and my monthly rent is being paid to a private owner by my organization. In future, I will remain living in the rented house. If I could get a loan from any bank to purchase a house for myself and pay the same monthly rent to the bank against that loan and in this way I shall become the owner of that house in 15-20 years time without affecting my financial liabilities. Is it Halal or Haram way?

Q: Person A intends to give some of her jewellery to her 6 year old minor. She then separates the jewellery that she wants to give to the child, from those she wants to keep for herself. 4 gold bangles with design, 1 was allocated to the minor. 4 gold bangles with design 2 was retained.

Person A would now like to make a small change whereby, the minor will have 2 bangles with design 1 and 2 bangles with design 2. Person A will have the other 2 of each design. Can this change be made? If there is a shortfall in value, Person A is happy to pay the minor the difference.

Scenario 2 Person B has 2 minor children, who are the offspring of 2 separate marriages. Person B has allocated some jewellery to the 2 minor daughters. Can any changes be made to this, as the children are still minors, and Person B was not fully aware of the rules of inheritance at the time of the allocation.

Q: If I invest 25 lakh rupees in a business of grocery items on the condition that I am allowed to take groceries worth 25,000 rupees per month, will it be halaal?

Q: I know someone working at the Federal Bank. He says that he can help open my doors with a higher loan amount. Once he gives me the loan amount, the money can be paid by the insurance of the bank and I don't have to pay anything towards the loan. He is basically squashing my money so the insurance can pay the bank back. If this was the case, I could open up plenty musjids and pay for the poor with loan amounts from the bank and the insurance of the bank will just pay the banks back. There is a saying that  money is the root to all evil and alot of people are doing this. It sounds corrupt but I require a Mufti's advice.

Q: This is a follow up question on the Road Accident Fund question:  

The court orders the RAF to pay interest (which is not interest according to Shari’ah) for late payment of the R100 000. Because the RAF paid 6 months later, the plaintiff received R100 000 from the RAF plus an additional amount (over and above the R100 000) for late payment as per court order.

This ‘extra interest amount’ (which is not interest money according to the Shari’ah) which is received from the Road Accident Fund, can it be classified as ta’zeer bil maal (monetary penalty)? If it is ta’zeer bil maal then is this extra amount permissible to use?

Q: I have obtained my degree through distance mode (although distance mode is not allowed by university, it is illegal). I have done it after consultation with college authority. Now if I get a job with this certificate, would my income be halal or haram?