Valid & Invalid transactions

Online stock trading

Q: The question is regarding online stock trading. To understand below are the few details:

CNC (Cash and Carry): Delivery trade using CNC with no leverage. Once bought, shares will get delivered to your demat account and if sold, shares will get debited from your demat account.

MIS (Margin Intraday Square off): Intraday trade using MIS for additional leverage between 9:15 AM and 3:20 PM. All open MIS positions get squared off at 3:20 PM.

The Question is regarding CNC and MIS. MIS is Haraam as the stocks will be squared off by the broker if not sold on the same day.

Regarding CNC I want to make it clear. When we buy the stocks via CNC The stocks will be confirmed like a bill generation and we get the right to sell it in the next minute and also if we want we can keep the stock for selling it later. Please let me know, whether we can do this delivery based trading or not? the complete rights are given to sell to buyer.

Charging a fee with instalments

Q: I'd like to know if a bank provides a service to purchase things on instalments of 6 months for example at a 0% mark up but charges a small fee for it, would that be considered as interest? Is it halal to avail this offer? Here's what they say:

Instalment Plan

Shariah Compliant

No processing fee

Payback in easy instalments

No extra charges

How it works? Select the product, choose the plan of your choice - 3, 6, 9 and 12 monthly instalment plans available. Apply online.

Forex trading

Q: I do forex trade in Islamic account which is swap free and I don't take any leverage. For example if I deposit 10000 rupees in my account I will buy dollars from these rupees and will sell them when the price of the dollar increases. Is this profit permissible for me?

Business dealings with non-Muslims

Q: Someone was debating with me a while ago and said “ why do you Moulana’s etc drive cars because the place where you purchase the vehicle from - e.g. Toyota - are in backdraft of over millions, owing other companies money, etc. Will it be haraam to purchase this car.

They also gave the example that why do we buy from checkers etc, if we know that the money they are buying their goods with is Haraam.

What is the answer to these two questions?

Guidelines for a Muslim Pharmacist when dispensing medication

Q: I am a pharmacist who owns a retail pharmacy and would like to know the shariah ruling on stocking and selling the following types of medication:

1. Tablets and capsules containing porcine and non-certified bovine gelatin. 

2. A number of medicines which contain alcohol as a major part of ingredients and many which contain alcohol as a preservative.

3. Medicines which contain ingredients which people can become addicted to e.g. codeine-based products like pain killers, etc.

4. The permissibility of transacting with patients on medical aid.

5. The sale of contraceptive pills and morning after pills to prevent conception.

Using a robotic woman's voice in apps for disabled people

Q: I want to make an app for disabled people. I want to make an app that uses text-to-speech and speech-to-text function. Text-to-speech has a robotic womens voice, so is it permissible for males to hear such a voice? Is it permissible for me to launch such app and sell.

Secondly, I want to make speech-to-text app for the deafs so that deaf can receive incoming calls, subtitles will appear, so is it permissible for me launch such an app? If any woman is calling, so her voice will be translated into text form. I think this background process will also be robotic. Is it permissible for me to launch such app?