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Posts published in “Business/Finance”

Taking Wealth Without the Other’s Wholeheartedness

By Mufti Muhammad Taqi Usmani Translation and Footnotes by Mufti Yusuf Shabbir  Speech delivered in Pakistan on 16th Shawwāl 1434 / August 22nd, 2013 In relation to monetary matters, incautiousness has spread within our society. The Prophet of Allah ﷺ…

Intellectual Property and Copyright in Islam

By Mufti Muhammad Taqi Usmani Edited by Faraz Abdul Moid Question: Can you please explain the Islamic injunctions about “copyright”, especially about the copyright on computer software? The questions are: (i) Can we register a book under the Copyright Act which…

Is a Contract Termination Fee Riba?

By Mufti Muhammad Ibn Adam 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…

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 fixing a price.…

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 assets for…

The Ruling on Employee Stock Options

By Shaykh Yusuf Talal DeLorenzo Question: Can you suggest any other literature regarding the propriety of granting stock options in a company to Muslim employees? Are Muslims able to participate in employee stock option plans? If not, what other options…

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 institutions and insurance…

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 aims to explain…

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 is described by financial experts as deleveraging : the forced reduction…

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 have…