Business and Dealings

Goodwill/Increasing the Price of the Shop Fittings

Q: I am aware that in Shari’ah, it is not permissible to charge anything for goodwill. However, I was told that if you attribute the same excess to the ‘shop fittings’ figure for example, it will now become permissible. Is this true? How can it be permissible when the purchaser, seller and the receiver are fully aware that this inflated figure is not a true reflection of the shop fittings figure?

Investments

Q: I am married and live with my husband & In-laws. My in-laws have invested certain amount of money with their son-in-law who have his own
trading firm and he pays a certain fix amount on monthly basis as return for investment. I would like to know whether this monthly fixed amount received on investment will be considered as halaal as per Islam.

Being eligible for a certain bank account

Q: I have a question which might seem a little odd but was hoping you could assist me. I have an account with First National Bank called a Young Professionals Account and the only way you can get this account is  if you are between the age of 18 and 30, earn more than a specific amount a month and have a professional degree (law, accounting, engineering, medicine etc), like a profession. I got the account a couple of years ago but started realising now that I don't have one of those professional degrees, although I do fill the other requirements of age and minimum salary. Mine is a Bcom IT Degree, just not a professional degree like the ones required for the account. They required a degree certificate which I handed to them and they did accept it at the branch I went to. I'm torn as to whether it is haraam for me to have this account and whatever I have spent and use in this account is wrong or forbidden. The degree certificate I handed to the branch was my own certificate showing a normal Bcom degree. Should I be worried about this? Do I need to change my account? What about all the things I have used the account for? Apologies for the odd question. I did know at the time that it wasn't one of those professional degrees but it didn't occur to me that it might be wrong. This account also has fees and and these fees are automatically taken from the account as well.