Business and Dealings

Paying a fixed rate for electricity

Q: Is it permissible to enter into a fixed plan with ones energy supplier? By fixed plan I mean entering into a contract to pay a fixed price per kWh for any gas/electricity used during the coming year. The alternative is to remain on a variable plan, which means that the price of the gas/electricity fluctuates depending on market prices.

Sharing in the profit and loss in a partnership

Q: There is a company called 3A Alliance. The comapny take's money from people for investing. They have a motorcycle company called Supreme. They take your money in advance which is RS,21 600. The total amount for the bike is RS,36 000 and they say that after 35 days we should come take the bike or sell it back to them. It means that they sell it to other wholeseller's across the city and once you have invested this Rs,21 600 amount they order a bike by your name every month and sell it to other's and give you some of the profit which is Rs,3500. It sometimes goes up and down every 2/3 month's

Is this halaal or haraam? The company also deals with other home appliannces like TV, refrigrators, water purifiers and they also say that if you don't like our company you can take whatever it is you have invested.

Forfeiting one's holiday if it is not taken in a certain time

Q: I am working for a Muslim family in their warehouse for more than 5 years. I have never been on holiday nor been paid for working in the holiday. When I asked them they told me that my 5 year holidays were gone (as per the law in our country). I know that by Allah, no right can be lost.

Note: Over these 5 years I thought I don't have a right of holiday as I work a few hours a week. No one from this family told me that I have a right for holiday. 

Should one take and a loan from a bank to buy a house or continue paying rent?

Q: I am residing in a rented house for the last 3 years and my monthly rent is being paid to a private owner by my organization. In future, I will remain living in the rented house. If I could get a loan from any bank to purchase a house for myself and pay the same monthly rent to the bank against that loan and in this way I shall become the owner of that house in 15-20 years time without affecting my financial liabilities. Is it Halal or Haram way?