1. Ask A Question About Islam And Muslims
  2. Ask A Question About Islam And Muslims

Ask A Question About Islam And Muslims

12 Questions

Is trading financial certificates, like leveraged bull and bear certificates and mini futures, permissible, especially given the aspects of interest involved in their structure?
Sayyed Mohammad Al-Musawi

No doubt, avoiding doubtful transaction and focusing on definitely Halal transactions is more safe according to precaution.

Wassalam.
Is it permissible to work as an accountant where you are recording Riba transaction of Muslims?
Sayyed Mohammad Al-Musawi

It is not permissible to do anything related to usury (RIBA). The money received for such work will be also not lawful (Haraam).

Wassalam.
What is my responsibility if I own stocks that have increased in value or have obtained profits gained from Riba?
Sayyed Mohammad Al-Musawi

Increase in value does not create any problem if the activities of the company are lawful and no Haraam activities are involved like RIBA. If the company deals with RIBA or does any Haraam business, it will be Haraam to buy or keep such shares. Money generated from RIBA or any other Haraam activities is unlawful to use in any way even in charity. It must be given to the Marje; of Taqleed to spend it on deserving cases or seek his permission to give it in charity.

Wassalam..
Is it permissible to engage in practices such as mortgage or car finance, which involve interest, even though Riba is considered forbidden in Islam? Are they considered Halal as long as the full cost of the product is agreed upon including interest?
Sayyed Mohammad Al-Musawi

If you know that it is a Riba between Muslims, then it will be the not permissible to deal with it. If the finance is given by a non Muslim to a Muslim, then it is permissible if it is done according to their own laws.

Wassalam.