Category: Business Transactions

Question # 178: Assalaamualaykum, Is not mentioning the truth the same as lying? If I’m selling something and the buyer asks me questions and I answer all of them truthfully but I don’t tell him anything extra which...

Question # 174: As salam alaikum! Some banks are issuing Gold certificate, whereby they act as your agent and buy gold for you and in return issue a certificate. They charge you some amount i.e. 0.15 dirham per gram of gold...

Question # 162: What banks are doing now-a-days by helping in mortgages, is it allowed as I am assuming they are dealing in interest and interest is haram? Bismi-llahi r-raḥmani r-raḥīm, Assalamu ‘laikum warahmatullahi...

Question # 119: Selling something you don’t own: There are Ahadith that prohibit such transactions; are they unconditional and understood on face value or is there more to it? Here’s a situation. A person makes an...

Question # 112: As we all know Riba (Interest) is haraam in Islam, but practically we all keep our money with banks who then lends out for interest. Even if I decide to not take interest by having a current account, fund would...

Question # 99: How is sukuk different than bonds? Investing in sukuks of Islamic banks allowed? bismi-llahi r-raḥmani r-raḥīm, Assalamu ‘laikum warahmatullahi wabarakatuh, All praise and thanks are due to Allah (سبحانه و...

Question # 72: Why is Life Insurance considered haram in Islam? How about life insurance which is provided as part of employment contract? Is it halal for the nominees/legal heirs to receive it after his/her death? bismi-llahi...

Question # 7: ‎I’m opening an account in a bank and will receiving interest @ 4% p.a. Should I keep that one and donate the amount received as interest every year to some poor families or should I ask them not to give me...