Business and Dealings

Incentive for paying rent early

Q: My apartment complex offers an incentive to pay rent one week earlier than the due date. The apartment complex holds a raffle with the names of all the people who pay their rent early and the winner of the raffle gets $400 in cash. Last month, I paid my rent early and my name was drawn in the raffle, so they gave me $400. Is this money halaal for me to use?

Partners agreeing to buy off the share of the other in the event of death

Q: Two shareholders in a company came to an agreement to buy each other’s share in the company at the death of either one of the shareholders at an agreed price. This is to ensure the future of the company and also to guarantee a purchase price and a buyer for the shares. Funding of the purchase is by means of life assurance by the shareholders on each other’s lives. Both shareholders are Muslim and their wills are Shariah compliant. Is the buy and sell agreement between the two shareholders acceptable within the Shariah principles?

Exchanging gifts

Q: There is a custom in some communities, that is; when we give some prepared food to our neighbor or somebody they always give back something which they prepared, in the same plate in return. The problem is, when nothing is found in their home they refuse to return our plate empty and say that, "I will give later"because of custom. Is this an act of sunnah to give back something as hadya in the same plate when one receives hadya from a neighbor or someone else?

Taking a gift from someone who's wealth is doubtful

Q: A friend of ours is unemployed and dependent financially on the government but is actively looking for work. He has a mother who repeatedly tells him that she will buy him a house, which gives him hope because he can live on the rental yields and not be in fear of eviction while he continues to search for a job. He will also be in a better position to transfer his mother's house to his name so as to avoid inheritance tax. The problem is that her wealth is very dubious and most likely gained in a haram way. For some time now she has been receiving benefits from the government but recently she has also been renting out rooms in her house. How she amassed her wealth is another story and cannot be explained by the benefits she receives but from what things she did (and probably still does) like take interest from the banks, working in betting  establishments, and committing refund fraud. My questions are:

  1. Can he receive a gift from his mother?
  2. Can he inherit from her?

Refusing a gift

Q: Is this also considered as refusing a gift? When a person informs the person in advance who wants to give a gift that please don't bring any gift we will not receive it?

Voting

Q: I am from Inda, Kashmir. Some people says that casting votes is haram (Forbiddan) as the constitution is not Islamic. I request you please guide me the islamic ruling on casting votes in a Unislamic country?

Meezan Bank

Q: I want to know that meezan bank saving account is good or not. All the details are included below.

Meezan Bachat Account is a unique saving account that provides high expected monthly returns with the flexibility to withdraw savings if needed. Meezan Bachat Account offers a higher expected rate of return with nearly the same convenience and service of a regular savings account.

Meezan Bachat Account can be opened by Salaried or Self-employed, Housewives and Retired individuals.

On agreeing to become a Meezan Bachat Account holder, the customer enters into a relationship based on Mudarabah with Meezan Bank. Under this relationship, the customer is an Investor (Rab-ul-Maal) and the Bank is the Manager (Mudarib) of the funds deposited by the customers. The Bank allocates the funds received from the customers to a deposit pool; funds from the pool are utilized to provide financing to customers under Islamic modes that include, but are not restricted to Murabaha, Ijarah, Istisna and Diminishing Musharkah.

Minimum investment required to open an account is Rs. 50,000/-

Maximum balance limit (threshold) for getting a higher profit weightage is Rs. 25,000,000/-

Free issuance of Cheque Book

Free issuance of Pay Order

Free Online Banking service at all Meezan Bank branches

Free Internet Banking facility

Profit will be calculated on the Daily Product Basis

A lower weightage will be applicable for profit calculation if the daily

Closing balance of the account exceeds a specified threshold (currently Rs. 25,000,000/-)

Profit payment is made to your Meezan Bank account on a monthly basis.