Business and Dealings

Repaying a loan in a foreign currency

Q: Zaid is in Dubai. Aslam, from Pakistan, is in need of some loan. Zaid does not have a foreign currency account in Pakistan, so when Zaid transfers 2000 dirhams to Aslam, Aslam receives Pakistani rupees equivalent to 2000 dirhams. After one year, the Pakistani rupee value has dropped, now will Aslam return the same amount 2000 dirhams or Pakistani rupees that he received a year back? Or should he return the rupees equivalent to current value of 2000 dirhams?

Advance Payment Guarantee

Q: We are in the construction industry and we use a contract known as an Advance Payment Guarantee and I want to know if this is acceptable please.

Basically, we pay a large percentage of a subcontractor's scope upfront. A third party acts as a guarantor that if the subcontractor fails to deliver (either works or materials) they will pay us back what we have paid upfront.

Please advise if this arrangement is acceptable

Unofficially extending a flat

Q: Sometimes people extend their flats either by one or two extra rooms or balcony unofficially both in private or government setup like DDA flats. These extensions are done at mass level. Nobody is getting harm or any trouble due to this extension. Kindly tell me if this type of practice is allowed in Islam?

Sale of different currencies

Q: I am a collector and I collect banknotes from various countries. A few days ago, I bought a few foreign banknotes online from a website, I paid the amount and a few days later, the banknotes were delivered to me. Was this transaction haram as the purchase was not done hand to hand? And if it was haram, what am I required to do?

Muslim woman working

Q: I am a 19 year old Muslim female. I want to do a vacation job because I am on holiday from university. I will be working in a ladies only environment, doing administrative work. I live with my retired grandparents and younger sister. My parents are deceased.

Is it permissable for me to take this job to earn extra pocket money and to build up experience that will benefit me later on?

Favouring a contractor who is one's friend after closing a tender

Q: 3 Companies were invited to construct a building. They were invited which would mean that they are all of equal stature. We were all in by the client prior to the tender closing and where the client advised us of his needs. We received the tender results but were advised a few days later that all three prices were too high for the client. I asked asked if we could assist and negotiate with the client to lower our price to come in line with the client. We were then advised that the client had negotiated with the company that had the highest price. It is common knowledge that the client and this contractor are friends and possibly family. Is this Nepotism and is this allowed in Islam.

Earning by investing some money by liking and subscribing to different YouTube channels and uploading them to an app

Q: There is an online app in which you get a daily job by investing some money by liking and subscribing to different YouTube channels and uploading them to the app. It gives daily money on account of investment. Like invest 15000 rs and have to do 10 daily tasks and get 600 rs daily. Is it halal?

Management charging an employee a fee for errors committed and distributing it in charity

Q: Is the following condition permissible ?

Contribution of R50 by the employee to a charity for any errors/mistakes at management’s discretion. "The Company" will be the representative of the employee and will handle any relating contributions.

DECLARATION:

I ______________________________, approve "The Company" as my representative to contribute R50 to a charity of their choice from my wage/salary for any errors/mistakes committed.

Trading in different currencies

Q: Zaid sent a parcel of GBP in cash to Bakr, with the intention of selling it to him for ZAR. Bakr inspected the notes, because some of them were old, and they both agreed on an exchange rate.

After a few days, Zaid subsequently sent his agent to collect ZAR notes from Bakr. Bakr did not give the entire amount. After a week, Bakr made an EFT of the remaining amount in ZAR.

(1) What is the status of the ZAR notes received from Bakr? If the money is haraam, what should be done with the money?

(2) What is the status of the money received via EFT from Bakr? If the money is haraam, what should be done with the money?