Trade

Q: Is it permissible for one to be an auctioneer or start an auction business. The only goods that will be auctioned will be halaal and permissible goods.

Q: Can I purchase a motorcycle on instalments? The original price is 44 500 and on instalments I have to pay 63 000 in 1.5 years on equal instalments of 3000 a month. Is it right or is it sood?

Q: Is Forex Trading without margin halaal? I mean, if I invest $500 and I trade from this $500 and don't take any loan, will it be permissible? How can I get physical possession on an online platform?

Q: Is forex trading halaal or haraam? While I use an interest free account, I use a swipe free and no commission account. My broker says its 100% according to Islamic Shariah. Kindly tell me about it in detail.

Q: I own a jewellery store. We offer our customers a 'trade-in' service where they bring their old jewellery to us, we evaluate it and determine its worth, and then the customer takes jewellery of their choice to the value of the jewellery that was traded-in.

Is it correct to deal in this manner? If not, how should we conduct the deal?

Q: I am a shopkeeper who sells general merchandise.

Sometimes, people come to my store and want to use their debit card to draw money from my card machine. They will swipe their card in the machine, enter the amount that they want, and thereafter I will take the corresponding amount of cash from my till and give it to them while their bank deposits that amount in my account.

Can I charge them for this service? In other words, can I tell the customer to enter R205 into the machine while I give him R200 in cash? I will make R5 on the service of giving him the cash. Is this permissible?

Q: I own a manufacturing business where I take orders from customers and manufacture according to their specification. Once their order is prepared, they are notified and given a ten day period to collect the item from our warehouse.

The problem is that many customers delay in collecting their orders. This causes a problem for us as the uncollected orders take up space in the warehouse. In order to avoid this problem, we want to stipulate, at the time the order is placed, that if goods are not collected within ten days, then a stipulated storage fee will be charged for every day thereafter. Is this permissible in Shari’ah?

Q: Is it permissible to buy items that are being auctioned off at a bank auction, i.e. items that were repossed by the bank?

Q: Is computer education halaal or not? I studied computer science and my field is game development and website development. Will my earnings be halaal?

Q: If a person gives his word to someone regarding a business matter, no legal papers were signed, are you allowed to cancel it Islamically?