Business and Dealings

Gifting a property to one's only daughter during one's lifetime and distribution of inheritance

Q: I have only one daughter. I own a house and no bank balance.

1. Can I gift the house, my complete property to my daughter in my life and give full control over it to her? Can we stay with her in that house only after giving her the full control over it? I have heard that a gift can be given from 1/3rd of the property and a gift can be given to non heirs.

2. If I don't give the gift, what will be the shares of my only daughter and wife?

3. I had two brothers and two sisters out of which one brother has passed away. So what will be the share of my remaining brother and two sisters in my property?

4. Will my nephews and nieces inherit from my property as their father is no more?

NOTE: Please answer all these questions in the light of my case as I have only one daughter and no sons.

Giving gifts on Eid

Q: Would it be jaaiz for people to give presents on Eid. I have seen some people give wrapped up presents with cards, very similar to Christmas, on the night before Eid, to the children. They have a big gathering to give this. They say that they do this because children won’t know how to spend the money properly. Would this be jaaiz? What is the status of giving Money on Eid?

Selling products that are not in one's possession

Q: I would like to know if I can deal in the following ways:

1. Sell a product on an online platform and receive payment (part or full) but the product is not in my possession.

2. Sell a product on an online platform and receive payment (part or full) but the product is in the stock of my supplier who promises to send me when I have confirmed the order.

3. Being the official rep of a particularly expensive but slowly moving product, can I take orders with part or full payment and then place the order with my supplier?

Doing business with Amazon

Q: While doing wholesale business with Amazon, one buys the product from a seller in another country and then drops it off at Amazon. We shall be advertising the product and Amazon will be responsible for storing, packaging and shipping of the product and it will charge us fee for these services. Is this method of sale correct.

Using shyft by Standard Bank

Q: Forex trading currency through mobile app from standard bank. Money is transferred to shyft in rands, which can be used to purchase at any time through a physical card or virtual card. Rands can also be traded for four specific currencies. These currencies, if in possession can also be used for purchasing through a virtual card. From what I read, no interest is involved and no hidden costs. Only fees for trading between currencies and amount is agreed before confirming transaction. This is called shyft from standard bank.

Is it permissible to use?