Business and Dealings

Soccer competition

Q: There is a soccer tournament taking place in a neighbouring town, and up to 8 teams are invited to participate. Each team has to pay an 'affiliation/entry' fee of R2800 in order to participate. The winning team receives prize money of R4500. The team that comes out 2nd receives R2000. The rest of the teams do not receive any money. Apart from all the other contentious issues (such as the covering of the satr, intermingling of genders etc), is the way in which this event is structured permissible?

Anglo Rand investment

Q: I recently came across a Shariah compliant CFD from AngloRand and I am really bemused as to how they can offer that product when clearly they know that it is not Shariah compliant because gearing is involved and this sort of investment a person does not physically own a share in a company that they would enter into a CFD, perhaps Mufti you have heard of this type of CFD and can shed some light.

Medical aid

Q: I would like to find out regarding Medical Aid, is it permissible ? If so what type of Medical aids are permissible? Are there any alternatives if not permissible?

Buying an item on terms for a fixed price

Q: I want to buy furniture for my house as I am shifting to a new flat. But I can't really pay cash currently. But the shopkeeper is charging interest on that. So is it permissible? I have heard that if I know the total increased price then it is permissible. e.g If I buy a car now I have to pay 8000 but on instalments the new price will be 10,000. But they increase it and say that its the interest rate. However I know the final price so is it permissible?

Working for a company that rents out ticketing software

Q: I am working as a business development executive for a company which develops software for theatres, food court and parking. However, the software has no concern with movie, it is being used for ticketing purposes. Moreover, my company supplys computers to theatres on rental basis for ticketing purposes. Kindly, guide me whether my job is valid as per our shariat.