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Business and Dealings

Business and Dealings (2801)

Using a credit card

Submitted by admin on Sat, 2014-12-27 07:07

Q: On my credit card they give me a loan. So can I use it for business? Is it permissible in Islam that we take a loan?

Category: 
Business and Dealings
Trade
Credit transactions

Mudhaarabah

Submitted by admin on Wed, 2014-12-24 16:04

Q: What is "Mudhaarabah"? Is it halaal for Muslims to do? If yes, in what cases it will be permissible?

Category: 
Business and Dealings
Mudhaarabat

Working in an accounting firm

Submitted by admin on Wed, 2014-12-24 15:40

Q: A person works in an accounting firm in USA where his main job is to do book keeping and monthly sales tax returns. He also does personal income tax and business income tax yearly. A situation arises where his boss ask him to fill out a client's previous three years business income tax based off estimation. The revenue will be reported accurately, however expenses will all be estimated to show a loss for the past three years. Is this permissible to do or no? Secondly, is it permissible to intentionally exaggerate expenses to reduce the amount of tax that will be paid to the government? Lastly, will it be permissible to estimate certain income and expense figures that are not available? Pertaining to the last question, even the best accounting system does require some level of estimation. First question is regarding the permissibility of the action. Second is that if this is 20% of his job, is his income halaal?  Some level of detail will be greatly appreciated. JazakAllah for your answer.

Category: 
Business and Dealings
Ijaarah
Permissible and Impermissible employment

Points and gifts from the bank

Submitted by admin on Wed, 2014-12-24 09:00

Q: Few common bank related queries:

1) Zaid had a debit card with Conventional Bank International for many years. Later on the bank introduced a points system of rewarding the users of the debit card for the purchasers made with the card. The value of points awarded have no relationship with his bank balance and therefore its not given as a benefit of a loan made. The bank receives a commission from the supplier for every purchase made by the purchaser and in turn filters some of the benefits back to the purchaser via a points system. Will these points be permissible for the cardholder to use.

2) Some scholars view deposits held by the bank as qabda of amaan with the ijaazat of tasarruf. Does hazrat agree with this?

3) Is it permissible to accept gifts in general from banks.

Category: 
Business and Dealings
Interest and Gambling
Bank benefits and Credit card reward programmes

Getting involved in interest

Submitted by admin on Tue, 2014-12-23 16:05

Q: My dad bought a phone on a credit card. If the bill is payed within 54 days then no interest is charged. However my dad couldn't pay the money within that time so now the total bill is 95 rials whereas the phone's price was 85 rial. Now we want to get rid of this card but we have to pay the bill to finish off the sunscription. So please guide us.

Category: 
Business and Dealings
Interest and Gambling
Interest bearing loans & Transactions

Paying interest on one's credit card

Submitted by admin on Sat, 2014-12-20 07:27

Q: A month ago my dad bought a phone on credit card. And if we pay the money used within 54 days then no interest charged. However my dad couldn't pay and now the time period is over for no interest. So now next Friday according to him he will pay. But now is there any way of avoiding interest. He only bought a phone he uses and nothing else. Please help us out and tell us how can we get rid of this card.

Category: 
Business and Dealings
Interest and Gambling
Bank benefits and Credit card reward programmes

Amaanat funds

Submitted by admin on Wed, 2014-12-17 15:21

Q: Amanat funds held in ones possession may not be mixed with one's personal funds. Is it permissible to mix amanat funds with other amanat funds that are held eg. using one account for all amanat funds held?

Category: 
Business and Dealings
Amaanat (Trusts)

Designing websites and pamphlets with Christmas and Easter themes

Submitted by admin on Wed, 2014-12-17 15:20

Q: I design websites and pamphlets etc. A certain client wants to give me a job where I will have to use images of people and also Christmas themes, Easter themes etc. Will it be permissible for me to do this work?

Category: 
Business and Dealings
Ijaarah
Permissible and Impermissible employment

Web designer advertising TV's on client's websites

Submitted by admin on Wed, 2014-12-17 15:15

Q: I design websites. I have a client who I have designed an ecommerce website for. He mainly sells computers but also sells a TV screen. Can I add the TV screen to his website for him?

Category: 
Business and Dealings
Ijaarah
Permissible and Impermissible employment

Who is liable for goods that have been lost by the courier company?

Submitted by admin on Tue, 2014-12-16 15:49

Q: Someone purchased some goods from me online. I had it sent to him via a courier service. The goods have not reached him and cannot be traced. How should the situation be resolved and who is liable for the loss?

Category: 
Business and Dealings
Liability

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