Trade

Doing business with Amazon

Q: While doing wholesale business with Amazon, one buys the product from a seller in another country and then drops it off at Amazon. We shall be advertising the product and Amazon will be responsible for storing, packaging and shipping of the product and it will charge us fee for these services. Is this method of sale correct.

Using shyft by Standard Bank

Q: Forex trading currency through mobile app from standard bank. Money is transferred to shyft in rands, which can be used to purchase at any time through a physical card or virtual card. Rands can also be traded for four specific currencies. These currencies, if in possession can also be used for purchasing through a virtual card. From what I read, no interest is involved and no hidden costs. Only fees for trading between currencies and amount is agreed before confirming transaction. This is called shyft from standard bank.

Is it permissible to use?

Selling an item not yet in one's possession

Q: Is it permissible for a supplier to:

1. Sell/enter into deals for goods not yet in his possession (not physically present), but the goods have been paid for. The goods maybe in transit or for some other reason not yet in his possession.

2.) Sell/enter into deals for goods he has neither paid for nor does he have them in his possession.

3). Sell/enter into deals for goods that are in his possession but have not yet been paid for. (Purchased on credit)

Accepting a different currency from a customer and exchanging it for a better rate later on

Q: I work at the airport at a car rental. Now if a customer comes and wants to pay in Euros but we accept only Dinars, to make his work easy I take the Euros from him at the current exchange rate at the airport knowing that the exchange rate will be better outside in the city. So I accept those Euros and use my Dinars to give to the company and later take those Euros and exchange it in the market at a better rate for myself or sometimes I wait for an even better rate. Is this money halaal?