Business and Dealings

Mortgage plans

Q: I am planning to buy a properly in UK. I have saving but it is far away from the amount the property cost. So I have to take a loan from the bank. I also tried with Islamic bank but their requirements are too high for me I do not match their requirements. So all is left is to get a mortgage from a non Muslim bank.

My question is: Is it still ok if I take loan from the bank if I have a property in India? It is actually a shop,and my father also left me a part of his property share that is £15000,- worth both are rented and my dependant are is getting the rent. So is it wise to sell the property (shop worth £25000,-)India and get less loan here? It would be £ 20000-30000 less RIBA base loan. Is it haram to keep the property in India and not sell it and on top get loan here? Or sell all in India, invest in UK property and get rid of more loan here because it is based on RIBA. Should I sell the property in India and send my family on a monthly Basis money? Because I am capable to send them money even if I had to sell everything there. What is wise or what is the right way to do in Islam. Or shall I just sell the shop and keep one property for them to get the rent from? Please guide I am really confused!

Boycotting and marching

Q: In light of the recent war in Palestine and killing of our brothers and sisters in this land. There has been wide spread support for the cause of the
Palestinian people from both Muslim and non-Muslims. Can mufti elaborate more on the actions of protest (marching) and boycotting of particular retail outlets? The question relates directly to these 2 points, marching and boycotting , as a Muslim should we be supporting and joining these forms of support?

Home Financing

Q: I have a question regarding Guidance Residentials (Islamic Home Financing) is it Halal in Islam? Mentioned below is their method. Co- partnership. On $100,000 investment Customer will put between 5 to 30 percent down depends on credit. Suppose monthly payments is $600. $400 belongs to them as a rent of the house $200 deduct from actual amount for first month. Second month will be $399 rent and $201 will be deduct from actual amount. As this method goes till end of the last payment. Kindly advise what will be the shar'ee law that apply on that. There website is Guidenceresidentials.com for more information. Hope to hear from you soon.

Working for a bank

Q:

1. Is it permissible for a person to do a job in a bank when he can not get any other job?

2. Is it permissible for a person to take a loan from a bank (for home) or to start his own bussiness?

Paying back more than the loaned amount

Q: My dad took the money from my uncle and said I will give you the profit as I have to invest it in my business. The profit was fixed either the business goes in profit or loss. Unfortunately there was a loss and my dad could not give back the money as it was agreed. Now I am earning and paying back the money loaned to my father by my uncle. I want to ask do I need to pay back the profit to my uncle as well or I just have to give him back the actual amount took by my father? (e.g my father took 5 lacs and the profit was 1 lac) Do I need to give back 6 lacs or only 5 lacs? Please help me out.