Business and Dealings

Early settlement discount

Q: I am in retail and many suppliers state their terms similar or as follows: COD 10% 30 Days 7% 60 Days - No discount This is the general practise amongst most wholesalers and it is clear when an account is being opened. If there is a change we are informed well in advance. I sometimes take the full 60 days without a discount but on occasions where my cash flow is better, I do take advantage of their different settlement discounts. Is this permissible?

Takaaful

Q: I am in confusion. I am worried that this confusion does not lead me to the wrong path. I have got job in takaaful insurance company named as jubilee insurance company in Pakistan. I have watched a lot of videos about Takaaful insurance and have read a lot of literature regarding this case. Many Aalims said that it is halaal in Islam but I could not find any satisfactory answer.

1. Is working in a takaaful insurance company Haraam or Halaal?

2. If I spread this takaful business, then is it good for Muslim Society?

Alternative to early settlement discount

Q: Will it be permissible for one to make an agreement with the supplier, at the onset before purchasing, that for example, the terms will be 30 days with a discount of 5%? There are a few suppliers with whom we have an agreement such as the one described above and we keep to the arranged terms. However, the time period and discount differs from supplier to supplier. If this is not permissible, then what is the solution to rectify the situation?

Investing in Heera Gold company

Q: Is investing in Heera Gold company halaal or haraam. The company says that it is halaal because it trades in gold, textiles and other products and does not deal in riba. If we invest about one laakh rupees we would get approx 3000 rupees per month and we can take our amount of one lakh when we want. It says that there is 60 -40 partnership and we are also entitled to loss. There is lots of people who invest in this company thinking it's halaal so could you please research on this company and give fatwa on weather it's halaal or haraam?

Taking back a gift

Q: I am a bit confused in regards to a matter, the issue is upon the death of my mum, my aunt asked for her Islamic clothes as a memoir but I gave it to her so that when my aunt wears my mum's clothes and prays in it, Isaal-e-Sawaab might go to my mum but it's unfortunate that I have never seen my aunt not once pray in those clothes. My wish was to take my mum to hajj but since she is no longer with me I wish to ask those clothes back from my aunt and wear it when I perform hajj. Now I know taking back gift is not a great idea but if I wear the clothes of my mum it will feel like she is with me when I am performing hajj. Can you please advise me if I should ask back the clothes which I bought for my mum and gave it to my aunt, in return I will buy her brand new clothes?