Is it permissible to receive cash back from a credit card company?
If the borrower does not pay interest on the loan and repays the full amount as agreed, without any hidden charges or alterations to the repayment terms, the situation changes. […]
Are all IRAs restricted like the 401(k) with the same Zakat rulings?
No. Some IRAs (like Roth IRAs) have their contributions taxed and because of this are penalty-free; so they work differently than 401(k) and non-taxed IRAs. At age 59-and-a-half, after one […]
What if a person owes Zakat to a retirement account but does not have the cash liquidity to pay from their available wealth?
The Fiqh Council of North America has ruled the following on this topic:If one’s due Zakat payment on such an account exceeds what one has the means to pay from […]
What is the argument for paying Zakat on restricted accounts?
Scholars who contend that one must pay Zakat on restricted accounts hold that one can, in fact, withdraw from a restricted account, even if one incurs a penalty, fees, and […]
Do we pay Zakat on 401k before the due date matures?
The scholars have differed on zakah due on 401(k) and adopted four main opinions: 1. Some have considered the zakatable amount to be that after subtracting penalties and taxes that […]
Is it permissible to purchase a house if the seller and the lender are the same entity?
Below, please take a look at the answer extracted from the study presented by Dr. Main Alqudah at the AMJA 16th Annual Imams’ Conference. https://www.amjaonline.org/wp-content/uploads/2019/04/Contemporary-Issues-Related-To-Buying-RealEstate-Alqudah.pdf Second: Financing with Construction Companies […]
What is the Islamic ruling on options contracts on shares/stocks?
The object of the option contract is merely the right to buy or sell for a certain price. So what is being sold is the option itself, and this contract […]
Is it permissible to sell the meat of the Udhiyah?
‘Ali (Allah be pleased with him) reported: Allah’s messenger (ﷺ) put me in charge of his sacrificial animals, that I should give their flesh. skins and saddle cloths as sadaqah, […]
