Q: I want to open an account in the bank. The name of the account is PLS (Prophet and loss saving). The policy of bank is if they invest my amount and earn some profit, they will give me my profit. If they have loss, then I will accept it. Is this is according to Islam or not? Please inform me. I shall be very thankfull.
Q: Is it okay Islamically to invest in the Old Mutual Albarakah equity fund?
Q: Which investments are Shari'ah compliant? And can you investment in an FNB Islamic unit trust or Albaraka unit trust?
Q: Mr Company intends buying a property for R10 million. They have R4 million available and want others to invest the remainder of the money with them. Ishaaq, Saleem and Faheem are willing to invest. Ishaaq will invest R3 million, Saleem R2 million and Faheem R1 million. They want to invest in it on a diminishing mushaarakah basis. The profits and losses will be shared according to the capital contribution, and the company is willing to pay all 3 of them off in approximately 5 years.
Assuming that the property yields a rental income of R100 000 a month (R1.2 million a year)
Income distribution
| Mr C | Mr C | Ish | Ish | Sal | Sal | Fah | Fah | |
| Year 1 | 40% | R480000 | 30% | R360000 | 20% | R240000 | 10% | R120000 |
| Year 2 | 55% | R660000 | 25% | R300000 | 15% | R180000 | 5% | R60000 |
| Year 3 | 70% | R840000 | 20% | R240000 | 10% | R120000 | ||
| Year 4 | 80% | R960000 | 15% | R180000 | 5% | R60000 | ||
| Year 5 | 100% | R1200000 |
Purchase of Shares by Mr Company
| Mr C | Mr C | Ish | Ish | Sal | Sal | Fah | Fah | |
| Year 1 | 40% | R4 mil | 30% | R3 mil | 20% | R2 mil | 10% | R1 mil |
| Year 2 | 55% | R5.5 mil | 25% | R2.5 mil | 15% | R1.5 mil | 5% | R500 000 |
| Year 3 | 70% | R7 mil | 20% | R2 mil | 10% | R1 mil | ||
| Year 4 | 80% | R8 mil | 15% | R1.5 mil | 5% | R500 000 | ||
| Year 5 | 100% | R10 mil |
1) Is the above form of investment permissible?
2) Is it permissible to change the profit sharing ratio to suit the needs of the investors, different from the capital contribution ratio? For example, in the
above scenario, Mr Company contributed 40% and Faheem 10%, but in order to please Faheem, they agree to let him take 15% profit while Mr Company takes 35%?
3) Is it permissible to fix an amount to be paid to a certain investor? For example, every month as a return on his investment, he will receive R20 000?
4) Is it permissible to set a fixed percentage of the investment as a return? For example, he will receive a 10% return on his investment monthly?
5) For the sake of ease in distributing the profits, is it permissible to distribute the profits during the year based on estimated profits that will
be received, and at the end of the year, make the necessary adjustments based on the actual profits that were received? Thus, at the end of the year, the profits will be adjusted for each shareholder in accordance to the actual profits received.
Q: Is investing in Heera Gold company halaal or haraam. The company says that it is halaal because it trades in gold, textiles and other products and does not deal in riba. If we invest about one laakh rupees we would get approx 3000 rupees per month and we can take our amount of one lakh when we want. It says that there is 60 -40 partnership and we are also entitled to loss. There is lots of people who invest in this company thinking it's halaal so could you please research on this company and give fatwa on weather it's halaal or haraam?
Q: I have an approximate amount of 2.6 million in an investment with Al Baraka bank,with a monthly return plan. Do I need to give zakaat on it? If so, how much and how do I calculate?
Q: If we interpret various Fataawa then it seems we can purchase shares and then sell them. But some people say that if you purchase the shares speculating that they will go up and sell within few minutes or after an hour or after some days then it is gambling. They say that the sole purpose of share buying should be the partnership of the company. If we are buying shares in anticipation of getting higher price afterwards, it is haraam. According to some muftis the sole purpose of buying the shares should be the partnership in the company and not trading. My question is can I buy the shares of a permissible company and then sell it when the value goes up?
Q: Please advise if it is permissible to invest in gold stocks for companies owning gold mines, gold mutual funds, exchange traded funds or does one need to physically have the gold in one's possession?
Q: Please advise on the permissibility of investing in the following Shares:
1. BHP Billiton Plc: An international resources company
2. Compagnie Financière Richemont SA is a Switzerland-based luxury goods holding company.
3. Anglo American PLC is a global mining company.
4. Sasol is an integrated oil and gas company.
5. Aspen Pharmacare Holdings Limited
6. AngloGold Ashanti Limited is a holding company for a group of companies which explore for and mine gold internationally
7. Impala Platinum Holdings Limited, or Implats, is the holding company for a group of companies which operate platinum mines
8.Growthpoint Properties Limited is a real estate company in South Africa. The Company owns a portfolio of commercial, retail and industrial (mostly warehouses) properties in South Africa and Australia
9. Mondi Plc is is an integrated paper and packaging group.
10. South32 a globally diversified metals and mining company
Q: I bought a plot in 2013 Oct for an amount of 9300000 for the purpose of selling/investment. Today I have sold it for 17500000. Please guide:
1. How much zakat do I have to pay?
2. Will zakat be paid only 1 time on selling or I have to pay for the last two years also?