Business and Dealings

Q: Can I take a loan from a bank for business purposes?

Q:

1. I purchased a business and wish to insure it. What is the Shar‘ee ruling regarding insuring one’s business? Similarly, please explain the law of insuring one's vehicle.

2. Could you also explain to me the Shar'ee ruling regarding medical aid and hospital plan?

3. Is Takaaful insurance permissible? I was informed that this is an Islamic insurance and is therefore permissible.

Q: A person provides the service of picking up and dropping off school children from home to school. In the morning, he picks them up from home and drops them off at school. In the afternoon, he picks them up from school and drops them off at home. Some days, certain students are absent. For the days, they are absent, will it be permissible for the driver to charge them for it due to the fact that the seat is reserved for them in the car? The contract between the parties is on a monthly basis i.e. he charges them a fee for his services at the end of the month.

Q: An electrician once came to my home and left his cutter. Now, I don’t have any chance of meeting him. Can I use the cutter myself?

Q: Is it permissible in Islam to take out a loan for my business. I want to take out a commercial loan from the bank for my business. Can I take out the loan?

Q: I like to buy a persian cat and use it as a pet. In future if it may give birth to babies, can I sell the cat for money?

Q: My question is about bank loans. What does Islam say about taking a loan when the bank describes the mark up at 19%?

Q: I want to open a business with boating, roller coaster rides, and other similar facilities. Can I provide such entertainment to people for a fee?

Q: Is trading halal? Like the website I am using is IQ Option. Where you bet the price on 4th decimal of the rate.

Q: I have a shop in which I sell different types of toys. Some of these toys are action figures e.g. a famous wrestler, soccer player, movie character, etc. Is this permissible in Islam?