Business and Dealings

Becoming a chartered accountant and taking bursaries from companies

Q: I am a grade 11 student and I want to pursue accounting after school. I am just concerned about whether being a charted accountant is permissible in Islam as it involves recording interest bearing transactions. The accountant is not involved in the actual interest bearing transaction but all he has to do is record it on, the businesses financial statements.

1. Is it permissible to become a charted accountant?

2. Is it permissible to take bursaries from large auditing firms in SA. They offer to pay for all your studies and you have to work with them for 3 years after you qualify. Is it permissible to work for these large auditing companies e.g. Deloitte and Tousche, PWC OR KPMG. They audit the books of large companies that also use interest.

3. Would mufti saheb suggest becoming a charted accountant?

Sharing profits to get orders in return

Q: I am running a (pcd) franchise medicine company. I get a tablet from company for a price of say 3 the mrp of medicine is 10 so I earn 7 but then I spend 2 from my profit and give it to doctor who is prescribing it then I give 2 to chemist outlet so that I get more orders from them. My question is "is it haram act" to share your profit to get orders in return. Please reply.

Asking for a refund due to not knowing the true value of the item at the time of the sale

Q: A diamond was purchased from one Muslim diamond dealer by another Muslim diamond dealer without a diamond certificate based on both diamond dealers judgments. The seller offered to send the diamond for grading and agree on a price afterwards but the buyer chose to buy it based on his judgment rather then a grading. If the diamond grading came better the seller wouldn't receive any additional cash and vice versa. On a value of 18000 the diamond dealer then viewed the diamond thoroughly and stated a slight flaw in the diamond which both parties agreed to reduce the price of the diamond to 15000. The 15000 was paid in cash to the seller. The diamond was then sent in for grading which took a period of time. The diamond came out as a treated diamond and an enhanced colour which was not known by the buyer nor seller. Based on the certification, the diamond value is only one 3rd of the price paid. Therefore the dealer that bought the diamond would like a refund on the diamond. What should be done and who should take the loss?