Business and Dealings

Sharing in the profits as well as the losses in an investment

Q: My bother passed away and his five kids and widow are in my supervision. Even though I am a lady but Alhamdulillah I did my best. Alhamdulillah now my brothers property problem is also solved and Alhamdulillah they received some money. They are not capable of handling this amount. No one in relatives are responsible enough to keep this Amanath for them. And may Allah Ta'ala forgive me I don't trust anyone for their money. I don't want to keep it in the bank and collect interest on their money. So with several god fearing peoples advise I invested their money in a certain brothers clothes store. He said for every 1 Lakh Rs he will give 1 thousand as profit. He said he can give more than that because he is saving lot more in interest. He said he will fix this minimum amount. And Allah forbid if in case he has loss in his business he will sell his house and give the money back to us. I got everything in writing for my brothers widow and her children's name. Alhamdulillah this brother himself is a very pious person. And spends lots of his time besides business in Dawah work. So mufti sahib please advise me if I did it right?

Rewards from credit cards

Q: You have a fatwa on your website that states using rewards from credit card companies is impermissible (ebucks); is using rewards from a departmental store the same thing if they give you 15% discount when you purchase their products on their credit card? Does it make a difference if the actual funding of the credit card is done through a separate financial institution?

Honouring one's promise

Q: Please advise if this was a valid transaction and if the buyer did anything wrong? A product was on sale, the buyer contacted the seller, a special price was made, there were only 2 products left but they had agreed a price and that the buyer will take it. Delivery address etc was confirmed and that the buyer would do the EFT tomorrow. The seller then emailed last minute to say that the units are sold and he is sorry. 1) Is it permissible for him to do this? The buyer then emailed the head office of the company in the USA with a complaint against the local dealer. The head office must have jacked up the seller, because now he contacted the buyer to go ahead with the sale 2) Was this permissible for the buyer to do, or was this forcing the seller into a sale unwillingly?

Selling items which are not declared

Q: I buy burqas from south africa to sell it back in my country. Not in a shop but personally. Now the law at the airport in my country is that if we bring any types of items for sale we should declare it and pay a tax on it (if they allow us to take it back from them). If i do not declare as such and sell them will the income that i will receive halaal?

Incomplete sale

Q: Mohammed and Abdul Kader own a business property on a 50/50 basis. Mohammed offers to sell 50% of his portion of the property to Abdul Kader for R1 250 000.00 which was to be paid cash. Abdul Kader accepts the offer but doesn't pay a cent. Is the sale complete? If Abdul Kader didn't pay, is Mohammed entitled to the rentals? Can Abdul Kader say that he is paying terms when the term period was not fixed or arranged with Mohammed?