Below, please find the summary of the Islamic Economic Forum’s Declaration on Bitcoin: Islamic Economic Forum (IEF) is a specialized group on WhatsApp founded by Sheikh Muhammed Khalid Hasani from […]
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 […]
There are various scenarios when it comes to accepting gifts from a bank: If the gift is offered to someone who has no connection with the bank, such as one […]
Should a long-term debt be returned on the due date for the amount previously borrowed or its current value today?
Some scholars rule that it gets paid with the same amount promised in the past regardless of the difference in value.Some scholars rule that it gets paid with the same […]
Narrated Jabir (RA):Allah’s Messenger (ﷺ) cursed the one who accepts usury, the one who gives it, the one who records it and the two witnesses to it, saying, “They are […]
Please refer to the following summary from the American Muslim Jurists Association (AMJA) fiqh council on the topic. This outlines several options which you can consider to reduce or eliminate […]
The underlying ruling is that trading in stocks is permissible, as with other permissible trades, as long as certain conditions are met. See the answer of Sh. Salah as-Sawy, President […]
Is it permissible to transfer an interest-based debt to a non-interest based debt or to a 0% interest rate debt, so the interest can be reduced or eliminated? If permissible, can I do it for one of my family members using my card?
When someone is already in debt with an interest-bearing debt and that person can transfer the interest-bearing debt to a 0% interest or to a reduced interest rate debt, then […]
Yes, but only as a general donation, no rewards are to be expected because it is haram in its nature and should only be spent to cleanse one’s wealth.If you […]
I pray all is well and may Allah swt accept all your good deeds and bless you for your keenness, Below, please find the summary of the Islamic Economic Forum’s […]
Scholars differ in their opinions on this topic:Some scholars say, no Zakat is due if the account imposes restrictions and penalties on one’s use and withdrawal of its funds arguing […]
The 401k structure itself is not problematic, rather the underlying investments are what determine permissibility from a religious perspective. You might consider checking with your company if they offer a […]