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 $20,000) He did not … Read more
Working as an Enumerator for CMHC: Is the Income Halal? QuestionAs-salamu Alaykum wa Rahmatullahi wa Barakatuh, I am seeking your guidance regarding the permissibility (halal status) of a specific job I am applying for at the Canada Mortgage and Housing Corporation (CMHC). While the corporation is involved in the national housing system, including mortgage insurance … Read more
Can a Muslim Partner With an Atheist in Business? Question: Can I partner up with an atheist in a business?He wants me to partner up with him or he might want to pay a certain percentage of the work that he does.I am experienced in most of the work that he does in this business. … Read more
Paying Sadaqah via Interest-Free Installments After Donation: Is It Permissible? QuestionAsslamu Alykum Is it permissible to pay sadaqah in installments? And if so, what is the maximum number of installments? Context: I payed sadaqah using a credit card, and now the card company is offering me to make payments in installments instead of all at … Read more
Trading Gold for Gold in Jewelry Upgrades: Is It Permissible? QuestionIs it permissible to buy/trade gold for gold? And why? I went to a jeweller and traded some old gold pieces I had to upgrade them for new styles. He didn’t give me money for my gold; we just agreed verbally on a price. The … Read more
Is a Conventional Mortgage Permissible When Islamic Financing Exists in Canada? QuestionPeace be upon you, and the mercy and blessings of Allah.I moved to Canada eight months ago. I sold my house in Syria to fund my travel, and currently, my income is very limited. After paying rent and utilities, we are left with barely … Read more
Can You Take Bank Interest If You Are Already Paying Interest on a Loan? QuestionInterest vs interestAre we allowed to take interest if we are paying for one.Example i have car loan and they are charging me 100$ interest for every month and i am also getting less than $100 or equal to $100 for … Read more
Is Profit from Selling a House Purchased with a Conventional Mortgage Haram? Questionas salamu alaykum Sheikh. I have a question regarding profit I made on my house. I bought my house on a traditional Mortage. I bought it at $485,000 and sold it at $574,000 after living it in for 2 years. Is this profit … Read more
How Is Zakat Calculated If You Have a Personal Loan Used for Business? QuestionWhat’s the ruling on your zakat if you have a loan on your name. example your friend lent you 20,000 dollars and your using it for your business, if my understanding is right your total zakat is only due on the amount … 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 Zakat Obligatory If Someone Has Debt Such as Student Loans or a Mortgage? Question Salam! (Asking on behalf of my wife) she was discussing the zakat al Fitr with people & some people have different opinions. Some people are saying that you are not required to give charity on anything including the gold sitting … 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
Is Zakat Due on a Government Pension Fund That Cannot Be Accessed Until Retirement? QuestionAssalamu alaikum shaikh, I work for the government. A portion is deducted from my monthly salary and contributed to my pension fund, and my employer contributes an equal amount. The total is invested and grows over time. There are three components: … 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
What Is the Sharia Ruling on Money Earned from Bank Interest (Riba al-Bunuk)? QuestionSalamu alaykum, I hope you are well.I would like to ask about money kept in the bank when a person receives extra money from the bank, known as riba al-bunuk (bank interest). What is the Sharia ruling in this case? Is the … 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 a Contractor Required to Credit the Fair Market Value of a Deleted Item, or Only What He Actually Budgeted? QuestionSalam. A person submits a quote for a construction project based on a set of drawings. The drawings include item X. Later the client decides to cancel item X from the scope. He asks for … 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
What Is the Ruling on Interest Earned from Everyday Savings Accounts in Banks Like TD? QuestionWhat is the ruling on interest from Everyday Savings Accounts with banks such as TD?I recently opened a savings account to keep my money organized, but I do not want to deposit anything until I know the ruling. The bank … 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 a Builder Allowed to Take on a Construction Project When the Client Is Financing It Through an Interest-Based Bank Loan? QuestionA brother in construction is asking: if he knows or is almost certain that his client is obtaining an interest-based loan from a conventional bank to finance the construction, is it permissible for him … 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
Is It Permissible to Take a Conventional Mortgage in Cases of Severe Hardship? Questionبسم الله الرحمن الرحيمAs-salamu alaykum wa rahmatullahi wa barakatuh, I have always tried to avoid interest and refused to apply for a conventional mortgage, as riba is prohibited in Islam. I applied for an Islamic mortgage, but I was only approved for … Read more