Business and Dealings

Q: The stock, fittings, etc. in my business are worth R300 000. Is it permissible for me to charge R50 000 goodwill and sell my business for R350 000?

Q: Is it permissible to register a company name? Once registered, nobody has the right to use this name except myself. Also, what is the ruling regarding registering a product name under my name? After this, nobody can give their product this name except myself.

Q: 1. Is it permissible to package water, milk, and all drinks in the form of humans and animals?

2. If not, is it permissible to drink the water, milk, and all drinks which are packaged in the form of humans and animals.

Q: Why is it not permissible to stop people from making and selling pirate copies of CD’s which have a copyright? If they are not stopped, the original person who worked and made the CD will lose a lot of money.

Q: Is it permissible for one to enter into a competition where one is required to pay a fee and then stands a chance to win a prize? In the case where one does not win the prize, one will lose the fee that he had paid and receive nothing.

Q: I have received a huge box of chocolates from my neighbour and it has the words "Merry Christmas" written on it. Is it permissible to eat the chocolates or not?

Q: What is the position of a phone contract in Islam? Is it regarded as a sale or ijaarah (hire) as one is buying a phone and also paying for minutes, data, and SMS?

Sometimes, if the person doesn’t use all the minutes, he will lose the remainder and it will not carry over to the next month. Are such contracts permissible?

Q: I am a post graduate student. My question is regarding a scholarship which I applied for and wanted to ask if it is ok for me to take.

I am presently studying in a different state and this scholarship is from the central govt. but I needed a proof of residence of this state for the application. So I got in contact with an agent and he managed to get my application approved for which he is taking a part of the scholarship money.

Anyway, generally I never applied for scholarships in my schooling or college or bachelors but because I have a few unplanned heavy expenses related to my education course, I applied for it thinking it would help. But I am in a dilemma whether to use it or dispose it or just use it for this particular purpose and dispose the remaining or use it for my other personal expenses and if not, then how do I dispose it?

Q: I want to invest my savings in a commercial bank which is offering a profit rate of 10%-12%. It is to bring to your notice that the profit rate will vary each month depending on the market and also it will change if we deposit more. Shall I invest in it?

Q: When our customers pay using credit cards, is it permissible for us to allow them to choose the “budget” option?