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  • Economic Issues

Some clarifications regarding allowable business transactions

Question If a merchant buys an object from somewhere for let’s say $5, then he placed it in his shop to sell, only when he sold it the selling price he listed was $15, obviously, this is not Riba (increase on borrowed money) but would this business practice be o.k. under Islamic concepts of righteousness? … Read more »

Earning profit from Network Marketing

Question I have this question on Network Marketing. In network marketing, a person buys some products from a company at a very low cost. The reason for the very low cost of product is that the wholesaler and retailer are not involved and thus a buyer directly buys from the manufacturer. Buying products from such … Read more »

Is affluence impious?

Question By the grace and providence of God, I have lived comfortably up until now (and insha’Allah hope to continue to). However, after reading more about the Prophet’s life, I have learned that he emphasized simplicity, humility, and modesty with respect to one’s standard of living. We are commanded by the Qur’an to follow his … Read more »

Working for a lottery

Question I have a friend who works in the television industry. He does various technical jobs (i.e. camera, audio, etc…) for the broadcast. One of the shows that he works on happens to be the daily lottery. He does not gamble, participate in the money transfer, solicit any funds or customers, etc…  All he does … Read more »

Valuation of a plot of land for the purposes of zaka’h

Question I have a piece of land on which i have no plans to build a house.My question is that which value should be used for calculating zakat for this land: The current market value (which might be varying daily) or the value which was paid for buying the plot? Reply As you have correctly … Read more »

Zaka’h on stored furniture&valuation of assets

Question When I left my country a few years ago we put out furniture (carpets, fridge, cooker, etc) in my Father’s storage room. The intention was that we will resume using them when we get back. Now after about 5 years I am not sure if we are to go back there for living. The … Read more »

Zakat for my wife’s jewelry

Question I had been paying Zakat on my income till now. I got married recently. Should I have to pay Zakat for my wife’s jewelry? With my current income, it is very difficult for me to pay Zakat for my wife’s jewelry. How much percentage of the jewel’s value, I should pay for Zakat? Thanks … Read more »

calculation of zaka’h for a sleeping partner

Question I would like to ask a question which would be better explained with an example: suppose I invest Rs. 1 lakh in any business as a sleeping partner. What will be the percentage of Zaka’h, which is applicable to this investment? Whether the Zaka’h will be on total investment or profit received only. Reply … Read more »

Giving zakah to non muslims

Question Can we give Zaka’h to non-Muslims? Reply Zaka’h, according to the Qur’an (Al-Taubah 9: 60), should/can be spent on the following heads: Fuqaraa and Masakeen i.e. for the poor and the needy; `aamileen `alaihaa i.e. on the people appointed for the collection and distribution of Zaka’h; Al-Mo’allafah Quloobohum i.e. to win the loyalties of … Read more »

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