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Commerce & Employment


Last Modified:  24 Aug 2011 10:50  GMT

What is the Islamic ruling on multi-level marketing?



Last Modified:  24 Aug 2011 10:49  GMT

I want to know about the permissibility of sharecropping in Islamic Law, whereby farmland is portioned out to tenants for a fixed share of the produce harvested.



Last Modified:  24 Aug 2011 10:48  GMT

What is the ruling on a business that provides a service to people who are looking for employment? The service actively looks for employment on behalf of its customers for a period of three months for a specified sum. If a customer finds employment through the agency, he must pay an additional one-time fixed sum to the agency. If the agency fails to find him work, his original sum is returned to him.



Last Modified:  24 Aug 2011 10:47  GMT

Many contractors complain about the rising prices of building materials. Sometimes, the prices of materials doubles after the contracts are signed. This causes many contractors to fail commercially or even fall into bankruptcy. What can they do? Is it possible to add some clauses to the main contract to protect the contractors from these dangers?



Last Modified:  24 Aug 2011 10:47  GMT

Is it lawful for various companies to bid for a government contract, each company vying for the contract by undercutting their rival company’s price? Can two bidders agree together on a price beforehand and then split the contract between them? Also, both companies placed a deposit with a trusted third party to guarantee their complicity? Is this correct?



Last Modified:  24 Aug 2011 10:46  GMT

I have given my investment capital to a person who trades in medical equipment. He gives me a fixed monthly return based on projected profits. This is easier for him, since he is unable to calculate with any precision the profits he earns in a given month. Moreover, he works with a large number of investors at one time. Experience shows that the business enjoys a sustainable and consistent profitability. Is this set-up Islamically valid?



Last Modified:  24 Aug 2011 10:45  GMT

I have a business where I sometimes sell goods and on monthly installments over the course of one to two years. I charge a 35% higher price on the goods that I sell on installment, but the market price of the product does not increase by that percentage during that time period of one or two years. The customer knows about the 35% and agrees to it, because he does not have enough money to purchase the item on the spot. Is this lawful in Islam or is it a form of interest?



Last Modified:  24 Aug 2011 10:44  GMT

I would like to know what is interest and why it is unlawful. Many banks give quite competitive rates and claim that what they are doing is business and not usury.



Last Modified:  24 Aug 2011 10:43  GMT

I live in USA and refuse to take any job that accepts credit cards. I believe it is unlawful to work at such jobs. Can you please advise me. I am very concerned because it is very difficult for me to find and hold down a job.



Last Modified:  24 Aug 2011 10:42  GMT

Some scholars have recently argued that interest from non-Muslim banks and financial institutions is permissible for Muslims but said that the same is impermissible if those businesses are in the hands of Muslims. They argued that since Islamic Law is not applicable to non-Muslims, Muslims are allowed to do business with them in the existing business parameters that the unbelievers have established for themselves.



Last Modified:  24 Aug 2011 10:41  GMT

I have account that allows me to purchase something like a computer on credit and then pay the money within a year interest free. However, if you fail to pay it off within that timeframe, then you will have to pay interest. Is it permissible to accept such a condition if you know that you can pay it off within a year?



Last Modified:  24 Aug 2011 10:41  GMT

Some people here in the UK purchase their homes on a bank bond and they refer to the fatâwâ of a number of prominent sheikhs who suggest that in cases of necessity, it is permissible to purchase homes in this way, especially in countries like America and the UK. What is the truth on this matter?



Last Modified:  24 Aug 2011 10:40  GMT

I wish to buy a home on the basis of a lease-to-purchase model whereby the finance company buys the property with you and agrees to sell you their share over a period of time. The monthly payment due on the house is calculated on the basis of two things: the price that the buyer must pay to fully purchase the home and the rental value of the home. Once the payment is calculated and agreed upon, they use the traditional documentation (note and deed/mortgage) that are commonly used in the industry ...



Last Modified:  24 Aug 2011 10:39  GMT

I need to keep a bank account in order to receive my pay, write cheques, and make purchases online. There are no Islamic banks around. What can I do?



Last Modified:  24 Aug 2011 10:38  GMT

The government issues something called a prize bond. These bonds are entered into a draw and the bondholder can possibly win a large sum of money as a prize. At any time, however, the bondholder has the option of returning the bond and receiving his initial investment back. I want to know if this prize is lawful or unlawful.



Last Modified:  24 Aug 2011 10:37  GMT

A man who owns a house needs to take out a substantial loan. A lender offers to give him the loan without charging any interest on the condition that the man allows the lender to live in the house as an extremely reduced rate of rental until the loan is paid off. Is this type of “collateral” allowed for a loan?



Last Modified:  24 Aug 2011 10:36  GMT

effects of inflation? If the lending party does not charge the nominal inflation rate – albeit, only accurate to the best of the ability of the country setting the rate – he will not be able to insure that there will be no real profit or loss to either of the two parties. Refusing to charge an interest rate does not change the fact that one of them is still a making profit and the other is still making a loss on the loan. This is due to inflationary/deflationary pressures affecting the v ...



Last Modified:  24 Aug 2011 10:35  GMT

What is the Islamic ruling about bank deposit guarantees? Are they permissible? What are the Islamic principles that are related to deposit guarantees? Is there any financial institution in the world that provides Islamic deposit guarantees? And what is the difference between deposit insurance and a deposit guarantee?



Last Modified:  24 Aug 2011 10:35  GMT

Prophet Muhammad (peace be upon him) gives a stern warning agianst taking interest. He said: “Interest has 70 manifestations, the least of which is equivalent in sin to that of a man who has sex with his mother.” [Sunan Ibn Mâjah (2274) with what al-Albânî and other scholars have deemed to be an authentic chain of transmission] But is paying interest also as sinful as having sex with your mother?



Last Modified:  24 Aug 2011 10:34  GMT

Is it permissible in Islam to pay back a debt in a different currency than the one you borrowed in? For instance, if I borrowed dollars from someone when we were living in Canada can I repay the debt in Pounds Sterling now that we are living in Britain? If it is permissible, then how should I figure the exchange rate? Should I determine it at the time I borrowed the money or at the present time




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