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Islamic Home Finance Solution

  • 02 Apr 2013 08:26:37
  • United States of America
  • Business and Finance
  • Answered by (Mawlana) Ismail Desai
Assalamu Alaikum, I have a question about house financing. Due to my income, I can't get an approval from one of the Sharia financing companies here in USA, like Guadance, LaRiba or Ijara, but I can get an approval from other banks. The question I have is, wh…

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Can a person sell a car which is in the custody of the traffic department?

  • 07 Mar 2013 08:24:18
  • Norway
  • Business and Finance
  • Answered by (Mawlana) Ismail Desai
Can a person sell his car which is in the custody of the traffic police department. He doesn’t have the amount to release his car. The buyer agrees to buy his car for 40,000 for example if it is in a sound condition or pay less if the condition is not sound. …

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Shariah Compliant Alternatives to collateral

  • 06 Mar 2013 08:21:55
  • France
  • Business and Finance
  • Answered by (Mawlana) Ismail Desai
I bought sofa set in installment and once again it was written in the receipt that the sofas will remain the property of the shop until paid in full. I said you can’t do that. They said we have to write this otherwise we won’t be able to claim legally our mon…

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Is it permissible to work in the banking department of an IT firm?

  • 21 Feb 2013 08:17:03
  • India
  • Business and Finance
  • Answered by (Mawlana) Ismail Desai
Assalamu alaikum. I completed my studies six months before and recruited by india's largest IT firm. I finnish my three months training now. Our company is doing all kinds of software services. I signed in two years bond. Now they appointed me in banking an f…

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CCTB (Canada Child Tax Benefit) and UCCB (Universal Canada Child Benefit)

  • 19 Jan 2013 08:12:35
  • Canada
  • Business and Finance
  • Answered by (Mawlana) Ismail Desai
In Canada CRA (Canada Revenue Agency) issues cheque of UCCB & CCTB to child’s mother. In our case father (me) is taking care of all family expenses. How should I treat with UCCB and CCTB ? Should I keep them or give it to mother ? If I keep them can I us…

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Can I use interest money to pay municipality bills?

  • 19 Jan 2013 08:10:38
  • South Africa
  • Business and Finance
  • Answered by (Mawlana) Ismail Desai
The municipality bill is in the name of the landlord and the landlord must pay the bill. The tenant fails to pay his rental to the landlord for an extended period. The landlord then instructs the municipality to cut the supply of water/electricity as he does …

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Foreign Currency Exchange and the Islamic Perspective

  • 12 Jan 2013 08:09:06
  • France
  • Business and Finance
  • Answered by (Mawlana) Ismail Desai
What is the Mas’ala of buying foreign currency? The Shurooth? Also, if I loan $50 to someone with the promise that he will repay me R500.00 after one month, is this permissible?