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Articles in Business/Finance

Is a Contract Termination Fee Riba? Is a Contract Termination Fee Riba?

Question:

I have signed a housing contract. The terms stipulate that if I wish to vacate the property before the contract period finishes, I will be charged a monetary penalty. If I withdraw from the contract …

Fixing a Price in Advance for Car-Repair Fixing a Price in Advance for Car-Repair

Answered by Mufti Muhammad ibn Adam al-Kawthari
Question:
I just wanted to know the ruling on repairing and servicing cars. Many people just take their cars to the mechanic and ask for it to be repaired without …

Zakat on Trusts Zakat on Trusts

Answered by Mufti Muhammad Zubair Butt
Question:
In the name of the Allah, The Beneficent, The Merciful
Many assets are held under trust, whereby the owner of the assets (settlor) transfers legal ownership to trustees who hold the …

The Ruling on Employee Stock Options The Ruling on Employee Stock Options

By Shaykh Yusuf Talal DeLorenzo
Question:
Can you suggest any other literature regarding the propriety of …

Share Trading Share Trading

Answered by Mufti Shafiq Jakhura and Mufti M.D. Mangera
Question:
I want to work professionally in share brokerage house. In Bangladeshi share market, there are both halal & haram products. The latter include interest/ riba based banks, financial …

Limited Financial Liability and the Islamic Viewpoint Limited Financial Liability and the Islamic Viewpoint

By Mufti Muhammad Taqi Usmani
Introduction
The concept of ‘limited liability’ has now become an inseparable ingredient of the large scale enterprises of trade and industry throughout the modern world, including the Muslim countries. The present chapter …

The End of Prosperity: Can Islamic Finance Help? The End of Prosperity: Can Islamic Finance Help?

By Mahomed Shoaib Omar

The meltdown of the global financial system has raised profound questions of its fundamental structural reform.  The downward spiral in the US and Western Europe …

The Ruling on Zakat on Islamic House Purchase Plans The Ruling on Zakat on Islamic House Purchase Plans

Answered by Mufti Muhammad Zubair Butt
Chair, Al-Qalam Shariah Panel
Question:
Respected Al Qalam Scholars
In the name of the Allah, The Beneficent, The Merciful
In recent years, Muslims living in the UK have been fortunate in being able to …

Use of Zakat for Administrative Expenses of Charities Use of Zakat for Administrative Expenses of Charities

By Mufti Muhammad Taqi Usmani
Question:
What is the Islamic legal judgment about charities [run by Muslims] registered as NGO’s (Non-Governmental Organizations) collecting and distributing Zakat money? Is it lawful (in Islam) for …

The Economic Challenge for the Ummah The Economic Challenge for the Ummah

[Condensed from a talk by Justice Mufti Taqi Usmani, delivered at the International Conference of the World Muslim Congress.]
The nineteenth century was a century of political oppression whereby the powerful Western nations enslaved …