A Business Transaction

Question:   1.    If I am a middleman in a property transaction i.e. I am able to get hold of a property cheap because the owner is in financial difficulty and is struggling to pay the mortgage which would be either capi...

Forex Markets

Forex Markets In the name of Allah, the most Beneficent, the most Merciful. Answer There are two possible situations to your question. If by Forex markets you mean the foreign exchange market, which allows banks and othe...

Bankruptcy

Is it allowed to file for bankruptcy in Islam? Answer: In the name of Allah, Most Compassionate, Most Merciful. If the borrower is poor and does not possess the means to pay off the loan, then the Quran gives advice to t...

Woman’s ownership on properties

Woman’s ownership on properties In the name of Allah, the most Beneficent, the most Merciful. Answer According to Islamic law, a woman’s right to her money, estate or other properties is fully acknowledged. This right un...

Charging commission

Charging commission In the name of Allah, the most Beneficent, the most Merciful. Answer In a situation where the commission is fixed, such as when the broker sells a car and charges £100 for the brokering service, then ...

Bank and Credit card loans

Around 5 to 6 years ago I took out a series of bank loans and credit cards and catalogue accounts but I did not pay any of them back. I am now trying to sort all my previous errors in life I have come across these debts ...

Credit cards

Is it permissable to use a credit card?When we purchase anything using Credit card we are get Bonus/ Reward points on every £100 we spend. I want to confirm that these rewards points after redemption provide us gift vouc...

Interest Money to print leaflets

Interest Money to print leaflets In the name of Allah, the most Beneficent, the most Merciful. Answer The recipients of interest money are the poor and destitute. Some scholars have said that one may use the interest mon...