Business and Dealings

Q: I have been dealing and negotiating with the banks and got a credit line (overdraft facility) approved for the company. To get this done I had told many lies to the bank (projections of business). I know that this was wrong and made tawbah to Allah Ta'ala. My question is that the facility comes with an interest cost. Since I had negotiated this with the bank by giving them false information/lies, etc., should I inform the bank about my mistakes? Or is it sufficient to only make tawbah?

Q: A business plan has been drawn up for a company wherein there are two partners sharing 50 percent each but they have no capital to start. A third party is keen on investing 100 percent of the capital into the business and he also understands that all the risks are borne by him alone. The two partners will be running the business and attending to the day to day activities of the business while the investor will merely advise and assist with decisions and the future planning of the business.

1. Can you explain the Shari’ah compliant way to structure this partnership?

2. How should the drawings of the three partners be structured?

3. The investor will invest for a short-term period of three years. At the termination of the period, what will be the correct way of settling?

Q: The warranty on my car is expiring. I was offered to extend the warranty for R5000 a year. Is this allowed?

Q: I have been working part-time at a pharmacy. The pharmacist (owner) and staff of the pharmacy are claiming chronic medicines and self-medication from the medical aids for the patients but are supplying the patients with other medicines that are not paid for by medical aids. Is this practice permissible?

Q: Is it permissible to buy gold on credit? My mother bought 2 gold coins, I took 1 and told her I will pay her slowly. Is it interest? What do I do? Can I return it to her?

Q: I am a security officer in Abu Dhabi. I have 3 questions:

A few days ago one of my friends told me that my boss's wife wants to sell her car, if you want to purchase it you can. I had a look at car and was interested to buy it but I could not arrange the money. The price is 5200 AED. When I was dealing that car one of my supervisor told me that he will pay and i'll return it on my salary. my salary came after 10 days. I said ok and he payed the same time. When the car was going to be transfered to my name again expense came to 1000 AED. I again took a loan from another friend. After that I am much worried that how can I return that money. One of my friend told me that take a loan from the bank they will give me one advance salary. I replyed to him no its sood. One day I was sitting on my post and a guy came to me, he asked me the way of a place and I guide him. At that time I was offering prayer. He become happy and told me that he will come tomarrow with a gift. Tomarrow he came with a bottle of water zam zam. I aked him to give me a slution about that. He asked me the bank name. I told him Dubai Islamic Bank. He told me no problem you can take becouse this money that you will pay as charges is going to charity that is not sood. After that I took advance salary and pay per month 100 AED as charges.

1. Is this amont is sood? If yes then now what should I do to remove this mistake. I am very upset.
2. I also have a personal insurance policy. is this also sood?
3. Are National price bounds are aslo sood?

Q: I want to buy a laptop on EMI monthly can I do this according to Islam?

Q: Is it permissible for a muslim to own a mortuary?

Q: Is Lottery Permissible? Where Every Month 12 People Put R100 each, and Each Month 1 Person Will Get The Whole Sum Of R1200?

Q: We are a group of Muslims thinking of starting an online web shop for Muslim married couples. We would like to sell adult related items (sex toys). Is this permissible?