Business and Dealings

Q: Is it permissible to save money like any chit funds, for example 40 months scheme for 40 laks but monthly we pay like 60, 70 etc.?

Q: Many people are going binary option nowadays to make money. Is it halaal to trade online through investment in binary options in the stock exchange. It basically is speculation whether or not a commodity will go up or down in the stock exchange. Nowadays the software purchased by yourself will do the speculation for you. Please advise whether this sort of earnings in halaal.

Q:

1. What is the status of permissibility with regard to student loans? Here in Australia, we have the option of paying back all or some of the loan, but it has some form of interest (indexing) applied to it. These loans are usually taken out by university students.

2. What about those who have already taken out a loan and do not wish to pay back? The Australian law requires a re-payment of the loan incrementally in the form of income tax, which only becomes mandatory if and when the debtor is earning above a minimum yearly salary.

Q: Is it permissible to work as an Uber driver? I heard that they require drivers to pay for insurance (third party property) which is not compulsory by government law for private car owners. This type of insurance is a stipulated requirement of the Uber company only.

Q: When buying items e.g. clothing, toys for non baligh children, what niyyat should we make? I have heard that you can't give away any item of theirs after you have made them owners. e.g. I am buying my son clothes this month.

Q: I have some fixed deposits which accrues some interest. Now if I perform Hajj/Umrah from the halal money i.e. not earned from the interest, will it be accepted? I ask this, because I heard that the prayers of the one who deals with riba are not accepted. I'd also like to know if my other prayers, i.e., Salah, Fasting etc, are accepted as well?

Q: My job requires me to work in public environments most of the time. I find small amounts of money on the ground occasionally. What should I do with the money found?

Q: The presidential elections will take place in France in May. Is it permissible for the Muslims to participate in the voting or not? Some say that it is not allowed to vote because the people who will be in power will not apply the laws of Allah? What are our dalail for this? And also, is it permissible for a Muslim to take part in the no-Muslim political party?

Q: I've got a shop which sell lottery and pork but no alcohol. The property is mine. If I give it up for rent, is the rent money halal or if they said they want to put alcohol in it and I give them permission to put it in does that haram come back on me or better selling up?

Q: Is working in an insurance company in India haraam?