Q: "Thank you for your answer to my question which appeared in November 1991 issue, concerning the adjustment of the interest amount to the loss of principal in the BCCI. Please clarify whether the interest received from another source [...]
Q: I received your answer to the question on the consumer credit scheme for which I thank you. I have, as a humble student, reservations on the correctness of your conclusion. I would be obliged if you would urgently [...]
THE CONSUMER CREDIT SCHEME Q: It is becoming common for Muslim retail businessmen in South Africa to enter into the so-called consumer credit scheme. The retailer concerned concludes a written agreement with a third party Company ("the Company'). A [...]
Q: I have recently been told that it is permitted for a Muslim to deal in interest in America or UK i.e. a Muslim can open interest bearing savings bank account in America or UK. The interest received from [...]
Q: In response to my question, you have replied in the Albalagh International- November 1991 issue - that I can adjust the interest money received earlier against the loss of my principal amount in BCCI, your reply, I assume, [...]
Q: What is the deifinition of Riba (ربوا) according to the Holy Quran and Sunnah of the Holy Prophet (S.A. W). Does it cover the simple and compound interest existing in the present day financial transactions? A: The word, [...]
Q: I have a considerable amount of money saved by me from my monthly income. I want to invest it in a lawful business which can give me some profit. One of my friends has offered me to enter [...]
THE USE OF CREDIT CARDS Q: Kindly throw some light on the use of credit cards, which are floating in the market. Majority of these cards belong to professional banking institutions, such as American Express, City [...]
Q: (1) Is it Jaiz (permissible) to take an insurance policy from a conventional insurance company to cover our employees against liabilty in the following circumstances: ** Injuries that may be suffered by workers (company employees) due to accidents [...]
