Working as a Middle Office Operations Analyst in Fund Services: Is It Permissible? QuestionI am considering a role where I support hedge funds, private equity firms, and institutional investors through trade support, fund accounting (NAV), investor reporting, and operational processes. In my role as a Middle Office Operations Analyst, I would be directly involved in … Read more
Investing a Friend’s Money Without Permission: Is It Permissible If You Guarantee No Loss? Question Hypothetically, let’s say I had invested a certain amount of money (ex $2000) And for whatever reason, a friend of mine asks if I can hold on to or manage a large sum of money (ex $20,000) He did not … Read more
Working as an Enumerator for CMHC: Is the Income Halal? QuestionAs-salamu Alaykum wa Rahmatullahi wa Barakatuh, I am seeking your guidance regarding the permissibility (halal status) of a specific job I am applying for at the Canada Mortgage and Housing Corporation (CMHC). While the corporation is involved in the national housing system, including mortgage insurance … Read more
Can a Muslim Partner With an Atheist in Business? Question: Can I partner up with an atheist in a business?He wants me to partner up with him or he might want to pay a certain percentage of the work that he does.I am experienced in most of the work that he does in this business. … Read more
Paying Sadaqah via Interest-Free Installments After Donation: Is It Permissible? QuestionAsslamu Alykum Is it permissible to pay sadaqah in installments? And if so, what is the maximum number of installments? Context: I payed sadaqah using a credit card, and now the card company is offering me to make payments in installments instead of all at … Read more
Trading Gold for Gold in Jewelry Upgrades: Is It Permissible? QuestionIs it permissible to buy/trade gold for gold? And why? I went to a jeweller and traded some old gold pieces I had to upgrade them for new styles. He didn’t give me money for my gold; we just agreed verbally on a price. The … Read more
Is a Conventional Mortgage Permissible When Islamic Financing Exists in Canada? QuestionPeace be upon you, and the mercy and blessings of Allah.I moved to Canada eight months ago. I sold my house in Syria to fund my travel, and currently, my income is very limited. After paying rent and utilities, we are left with barely … Read more
Are Smoking, Vaping, and Hookah Haram or Makruh? Understanding the Correct Distinctions QuestionSheikh, I’ve heard multiple opinions regarding the rulings for smoking and vaping, can you break down where do the people get smoking as “makeup tahrimi”, just makeup, or maybe even haram? Would the same rule apply to Hookahs or “Egeellah”? Jazakum Allahu Khayran … Read more
Is a “Halal Mortgage” Valid If the Contract Clearly Lists Interest and a Standard Amortization Schedule? Question Assalamu Alaikum, I am seeking guidance on a residential financing agreement I am entering into. The provider marketed this as a “Halal” financing option (Tjara), but the commitment documents I received from the processing company (Radius Financial) include … Read more
Is Day Trading Through Online Prop Firms Permissible in Islam? Question Salam alaikum sheikh. I wanted to ask for a ruling regarding day trading through online proprietary trading firms (“prop firms”). Based on your ruling that cash equity trading without margin is permissible, I wanted to ask whether trading through these firms affects the permissibility. … Read more
Should I Remove the 2.3 Percent Interest from My RRSP and Then Switch to a Halal Provider? Question So, the RBC, the 2.3 interest reinvested, calculate exactly that amount and those 2.3 interest that they invested before, giving it for charity, and the rest is good. However, we encourage you to switch your RRSPs to … Read more
Is It Permissible to Sell Clothing with Images of Female Celebrities Who Promote Indecency? QuestionI buy and sell various items. I found a Dolly Parton shirt with her picture showing her face, hair, and neck. Since she is a music celebrity and such figures often promote indecency and sinful behavior, is it permissible to sell … Read more
What Is the Sharia Ruling on Investing in Real Estate Investment Trusts (REITs)? QuestionAssalam alaykum Sheikh. Please we need a fatwa stand on the following business related question. Real estate investment trusts (REITs) are companies that own, operate, or finance income producing real estate across a wide range of property sectors. They raise capital by … Read more
Is General Forex Trading Haram, and Does Trading Gold, Silver, or Platinum Change the Ruling? QuestionSalam alaykum. Is general forex trading haram? What if it is used only for buying earth minerals like gold, silver, and platinum? Would it be permissible in this case? Jazakum Allah khair. AnswerAlhamdulillah, wassalatu wassalamu ala rasulillah, wa ala alihi … Read more
Is It Permissible to Keep, Use, or Donate Profits from a Shariah-Screened Investment ETF? QuestionSalaam alaikum warahmatullah wabarakaatu. I invested some money into an investment that claims to be halal and that it “complies with Shariah law and excludes companies deriving more than 5% of their income from alcohol, tobacco, pork-related products, weapons, conventional banking … Read more
Is It Valid to Return Stolen Money by Buying Property for the Father Without Telling Him the Truth? QuestionSalaam alaikum warahmatuLlah wabarakaatu.She stole from her father without his knowledge. Many years after, she decided to pay him back an estimated amount of the money she stole and used it to buy some land for him. … Read more
Is It Permissible to Purchase Company Shares When the Company Provides Supply-Chain Analytics? QuestionAs Salam U Alaikum,i wanna ask you about the permissibility of buying stock/equity that my company is offering me. Below is a simple explanation of what my company does. Everstream Analytics provides supply-chain risk forecasting for companies (weather risk, shipping delays, political … Read more
Is Lead Generation for Mortgage Agents Permissible, and What Should Be Done With Past Income? QuestionIn the Name of Allah, the Most Gracious, the Most Merciful.Peace, mercy, and blessings of Allah be upon you. My name is Abdul Samad. I live in Pakistan but run an online lead-generation and marketing business in Canada. My work … Read more
Is It Permissible to Purchase Short-Term Event Insurance to Rent a Hall for a Sisters-Only Gathering? QuestionAsalamou aleykoum,I’m planning a small sister-only gathering to celebrate moving into my husband’s home after my nikkah. My current apartment is too small to host everyone, so I’m looking into renting a small hall. Most venues I’ve found require … Read more
Is a TFSA (Tax-Free Savings Account) Permissible in Islam? QuestionIs a TFSA account haram? I read that it helps you avoid paying taxes on your savings, but since the bank invests that money and adds interest to it, is it still permissible to use? AnswerAlhamdulillah, wassalatu wassalamu ala rasulillah, wa ala alihi wa sahbihi ajma‘in. … Read more
Designing for Halloween and Christmas Themes QuestionSalam respected Imam, I am a graphic designer. With Halloween coming up, is it permissible for me to create mock-up designs for my portfolio and to sell these designs on shirts and other wares? Moreover, does this ruling apply to Christmas as well? What if I avoid religious symbols … Read more
QuestionWhat is the ruling on investing in stocks? AnswerAlhamdulillah, wassalatu wassalamu ala rasulillah, wa ala alihi wa sahbihi ajmain. The General Principle The usul principle is: “Al-asl fi al-mu‘amalat al-ibahah” the default ruling in financial transactions is permissibility, unless there is clear evidence of prohibition. Therefore, investing in stocks is permissible in principle, provided the … Read more
QuestionSalam, I would like to know if working as a salesman at a car dealership is haram? Please let me know. Jazakallahu khayran. AnswerAlhamdulillah, wassalatu wassalamu ‘ala rasoolillah, wa ‘ala alihi wa sahbihi ajma‘in. The ruling depends on the type of sales and financing that the dealership uses. Islamic jurisprudence distinguishes between permissible trade and … Read more
The rulings of day trading, short selling, options and gold trading. Praise be to Allah. 1. Day Trading (Cash Equities) 2. Day Trading with Margin 3. Short Selling 4. Options 5. Gold Trading Forms in the West: And Allah knows best.
Bismillah Ar -Rahman Ar-Raheem, Question:Can crowdfunding for a halal startup or business idea be considered acceptable under Islamic investment rules? Answer:Crowdfunding refers to raising small amounts of capital from a large number of people, typically via an online platform, to fund a project, startup, or business. The concept itself is not inherently prohibited in Islam … Read more
The Prophet ﷺ said regarding partnerships: “The hand of Allah is with the two partners as long as they do not betray each other.”(Narrated by Abu Dawud, 3383; classed as hasan) Musharakah: Islamic Partnership Contracts and Their Modern Applications Definition:Mushārakah (مشـاركة) is an Islamic partnership contract in which two or more parties contribute capital to … Read more
Question:Is using buy-now-pay-later (BNPL) services Islamically permissible if paid off within the grace period? Answer: 1. What are BNPL (Buy-Now-Pay-Later) Services? BNPL services allow customers to purchase goods immediately while delaying full payment. Typically, they offer: 2. Scholarly Consensus (Ijma‘) and Established Opinions Contemporary Islamic jurisprudential bodies, including AAOIFI and the International Islamic Fiqh Academy, … Read more