Principles of Fiqh
Dealing with Financial Losses in Islam
How to deal with financial losses in Islam: 1- The one who is managing the investment must be honest and truthful in telling the people what really happened. 2- If there has been any carelessness of negligence on his part, then he must replace what was lost through his negligence, and he himself must bear the loss that resulted from his carelessness. 3- The owner of the capital must accept the will and decree of Allah and strive to reduce the loss and deal with its effects, and save whatever he can of his capital by all permissible means.SaveIs It Permissible to Invest in Silwana Diamond?
If Silwana Diamond Company or any company does not meet the following conditions, then it is not permissible for you to invest in that company: 1. The field of investment must be permissible. 2. There should be no guarantee of the capital. 3. It is obligatory to agree on a percentage of the profit. 4. The company should avoid borrowing money with interest or putting its wealth in interest-bearing accounts (Riba).SaveIslamic Guidelines for Permissible Investment
Islamic guidelines for permissible investment in companies: 1- The company invests in permissible ventures; 2- There should be no guarantee of the capital; 3- The profit should be known and agreed upon.SaveRenting Cars or Properties in Rent-to-Own Contract
If the company rents out the car to the customer for a particular period, then ownership of the car is transferred to the customer automatically, without drawing up a new contract, so that the rental contract, at the end of the stipulated period, automatically turns into a sale contract, then this kind of transaction is prohibited.SaveRuling on Lease to Own Agreements
If the contract is a contract for renting the car, paying such and such every month, with a promise that you will take possession of the car at the end of that period, this is permissible so long as the rental contract is a genuine contract and is not a cover for selling.SaveCan Brokers Get Commission from both Parties in Islam?
1- is permissible to charge a fee for acting as a broker or middleman to the seller or the purchaser or both of them, provided that it is done in accordance with the stipulated conditions or local custom. 2- If the broker is working for one of the two parties to the transaction, it is not permissible for him to make a deal with the other party to increase or lower the price. 3- If the broker is working for one of the two parties to the deal in return for a specific fee, he does not have to inform the other party of it.SaveIs Brokerage Haram in Islam?
Brokerage (samsarah) refers to mediation between the seller and the buyer. A number of scholars have stated that it is permissible to work as a broker and to receive payment for it.SaveCan a Muslim Work as a Web Designer?
1- If you are a web designer and someone comes to you and you know that he wants to design a website that he will use for prohibited purposes, then it is not permissible for you to design the website for him. 2- If you do not know anything about the reason he is asking for website design, or if the site will most likely be used for permissible and beneficial things, then there is nothing wrong with you designing it and selling it.SaveIs Making Money by Clicking on Ads Permissible?
It is permissible to make money by clicking on ads subject to two conditions: 1- the ads should be permissible; 2- and the fee or payment should be known. It is not permissible to deposit money on the website because this is regarded as giving a loan to the website.SaveWhat Is the Correct Way of Lending Money in Islam?
The correct way of lending money in Islam is: 1- To specify the period of the loan. 2- Writing down the loan. 3- If the one who writes down the loan is a person other than the debtor, then the debtor is the one who should dictate to him the details of the loan. 4- If the debtor is unable to dictate because of sickness or some other reason, then the one who should dictate on his behalf is his guardian. 5- The loan should be witnessed, and the witnesses should be two men, or one man and two women. 6- The lender has the right to ask the borrower to guarantee the loan with a pledge which the lender will keep.Save