Q: A person is working for an accounting/auditing firm and he has to go and audit a bank. The bank is one of the clients of the firm. Would it be halal to do audit of the bank? Would his income be halal? A: The income derived as an employee of the accounting firm is …
Q: After completing my studies here in the UK I started doing assignments for foreign Arab students on their behalf and I charged a fee for this work. Somebody told me it’s not allowed in Islam because this is cheating. At that time I asked one of the famous Imams after explaining to him that …
Q: Is it permissible to add the clause of “first option to buy back” when selling any anything? A: Yes, it is permissible to add a clause giving the first seller first option to buy back in a sale agreement. But in that buy back option, the price must be left to the discretion of …
Q: Is it permissible to study actuarial science and work in that field? A: The study of actuarial science is permissible as a science. After receiving a degree in this science, one should use it to earn a lawful income by entering a field that is allowed by Shari’ah. Insurance companies use such qualified people …
Q: I have started buying shares. I bought some shares in an oil company. Is this buying is halaal or haraam? A: It is not permissible to accept a share allocation in companies that are listed on the stock exchange. Reasons:Investing or buying shares in the Stock Exchange falls under the Islamic transaction of Shirkat …
Q: What is the shariah ruling regarding taking out life polices for certain amounts of money? A: LIFE INSURANCE IN THE LIGHT OF ISLAMIC LAW In the Name of Allah, Most Gracious. We Praise Allah and send Special Durood and Choicest Blessings on His Noble Messenger, and upon the illustrious family and Companions of the …
Q: Is it permissible to work for an insurance company even if its Muslim owned? A: Insurance is a procedure that involves two unlawful elements: viz; interest and chance. Interest is found because one pays into the fund a certain sum of money in premiums, and then gets back a far greater sum if and …
Q: Please can you clarify the Islamic ruling on working in: 1. Bank; 2. As a cashier in a cinema. A. Employment at a bank should be avoided because of the interest factor at banks. If one is already working in a bank, then while still working there, alternate employment should be sought. As soon …
Q: Is it permissible to shave the beard for important work? For example: in the energy services to protect the beard from gases in the workplace? A. The Hadeeth clearly states that there is no obedience to the creation if in it lies disobedience to the Creator. (Al Mu’jamul Kabeer V18 P177). You are being …
Q: Is it permissible to buy a house via Wesbank Islamic Finance? Are there any Halaal ways of buying a house? A. It is permissible to purchase a house via Wesbank Islamic Finance. You can also use Absa Islamic Finance or Al Barakah. They all have Shar’ee compliant packages for house finance. Mufti Siraj Desai
