Business and Dealings

Q: Is it haraam to earn a pension fund and to draw unemployment fund which was partly contributed from your own salary and partly from the company you work at?

Q: I have a question on putting investment.

We have a group of around 45 people and each guy is putting a total of 1200 AED for 1.5 years. And one guy among us is buying a Limo Taxi to run as per Government Rules and every month he will be giving us 15% of the money after his expenditures like room, food, etc.

Total 55000AED only will be from our group of people, and remaining cash needed-the guy who is purchasing the car will be arranging. As per him, he will be paying back monthly to Emirates Transport, a Government Authority, the cash he will arrange. We asked any interest in that, he said he is not sure about it.

We will be getting 15% from the 55000AED amount we are investing, and this is fixed percentage, and the amount may increase or decrease based on how much work he will get with his taxi. But the percentage will be same 15%.

I would like to ask you, if in the amount we are investing there is no interest, will it be haram for us? Because, in the amount this guy is arranging, he may be paying monthly to Authority with interest.

Q: I am planning to start my career in the field of event organizing. I may get events in which there may be unlawful gatherings, intermingling of sexes, and other haram stuffs that may be involved. Can I take such contracts ? What if I do not mix into the gathering or support the setup of any haram products such as alcohol. My part would be merely to supervise and look after the decoration of the venue and related jobs?

Q: I have a question regarding working for a non-government organization(NGO). The name of the organization is swisscontact. This organization does not work for profit. They work in many sectors like, health, education, earning and so on. One of their work is to make awareness of the banking facilities to the poor who do not hold any bank account and unable to do regular banking activities.

I may get a job offer in this organization. My job will be to hire agents who will work in the field level to educate people about banking activities. My job will be to manage these agents who will create awareness among people about conventional banking. Conventional banking may include savings account, savings schemes, loans, etc.

There will be some banks who will have a contract with my organization (swisscontact). This is a project based work and it is donor funded. My organization doesn’t earn from the bank or interest. This organization runs its operations from donor money. Can I work for this Company in this role?

Q:  Can we save money in margadarshi like monthly deposit. Is it permissible?

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.