Business and Dealings

Are the following Islamic Finance Products Shariah compliant?

Submitted by admin on Mon, 2012-12-03 06:14

Q: Can you please advise as to whether the following Islamic Finance Products are Shariah compliant (Permissable):

  1. FNB Islamic Finance Cheque Account & Youth Account
  2. FNB Islamic Finance Vehicle Finance
  3. FNB Property Finance

Selling items which one does not have in his possesion

Submitted by admin on Mon, 2012-12-03 06:12

Q: Someone came to me to buy goods. I do not have it. I take his order and tell him that it will be shipped to him directly. The item costs me R100. I’ll sell it at R200. Is this permissible. If not, what is the way out?

Charging my Friends $5 for using my credit card on ebay

Submitted by admin on Mon, 2012-12-03 06:09

Q: I buy goods for friends from eBay using my credit card account. For every item, I add on e.g. 5 dollars because I’m using my name, etc for the transaction without telling them. Is this permissible? If not, what is the way out?

When is a sale definitive and concluded?

Submitted by admin on Mon, 2012-12-03 06:07

Q: When is the contract (transaction) between a buyer and seller definitive?

Riba transactions in non-Muslim countries

Submitted by admin on Sun, 2012-12-02 08:07

Q: I have come come across a kitaab translated by Moulana Yunus Osman of Hazrat Shah Anwar Kashmiri, giving his viewpoint of permissibility of riba transactions in non Muslim countries. Please comment.

Processing budget transactions on credit card speed points

Submitted by admin on Sun, 2012-12-02 07:46

Q: At tills there are speed points. It takes debit & credit cards. Will we get sin if the customer uses his credit card & says he wants to put it on BUDGET(6 or 12 months-interest will be charged to the customer)?

Using interest to pay tax

Submitted by admin on Sun, 2012-12-02 07:29

Q: Can interest be used to pay tax?And what limits can interest be used for in similar instants?

Investing with the Iman fund

Submitted by admin on Sun, 2012-12-02 07:20

Q: Is it permissible to invest with the Iman Fund (symbol: IMANX)?

Huge cellphone bill due to a virus

Submitted by admin on Sun, 2012-12-02 07:14

Q: A brother uses his cellphone as a modem. Unfortunately he contracted a virus. The effect of this was that as soon as he put on his phone the counter was just running. The result was that his account which normally comes to about R250.00 came to R5500.00. After investigating it was found that this was caused by the virus.

The service provider says that it is not their problem and they want the account to be settled. Will it be permissible for the brother to pay this account using interest money?

Hospital Plan

Submitted by admin on Sun, 2012-12-02 07:05

Q: Is it permissible to have just a hospital plan?

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