Q: Asa: Can a child transact as in buy and sell things and does a child have to give away his or her eid money to a parent that asks for it and uses it up and the child is … Continue reading
March 13, 2025
by Ml. Muhammed Shoayb
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Category Archives: Finance
March 11, 2025
by Ml. Muhammed Shoayb
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zakat on shipment
Question: I have a shipment coming from china, is zakah due on it? It’s not in my possession, it’s still in the waters.Answer: Possession for Zakah on business inventory is not just about physical possession, but also ownership and control over … Continue reading
March 10, 2025
by Ml. Muhammed Shoayb
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Loan and equity are not the same
Q: I lost everything due to fires, a friend offered me funding to restart my business, in exchange he wants a 20% equity stake. Can I accept this deal under Islamic principles? Is it halal? He said its better I … Continue reading
March 9, 2025
by Ml. Muhammed Shoayb
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Debt and death
Q: If I own a home and lets say i owe 100K on it and i die, who takes over the debt? Do the inheritors take it over? What is the sequence to occur on this matter? A: May Allah (SWT) grant … Continue reading
March 8, 2025
by Ml. Muhammed Shoayb
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zakah is to purify!
Question: Asa: can you make the zakat issue less complicated. We have 401k matters, now this DCPP case, how do we know if we give zakat or not. What are the underlying trigger points to give zakat. No body gives … Continue reading
March 6, 2025
by Ml. Muhammed Shoayb
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Defined Contribution Pension Plan (DCPP) and zakah
Question:Is Zakah due on funds held in a Defined Contribution Pension Plan (DCPP) if the money is locked within the account and the account holder cannot withdraw the money before retirement? Answer: A Defined Contribution Pension Plan (DCPP) is a … Continue reading
February 12, 2025
by Ml. Muhammed Shoayb
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7-11 halal or haram
Q: Asa I own a 7-11 and today my child went to Sunday school and the new mufti refused to take the tuition and said to my children you can come for free. The money of 7-11 is haram and … Continue reading
August 29, 2024
by Ml. Muhammed Shoayb
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Zakah on old earnings
Q: Asalam alaikum My family appreciates this website. We like the openness and how it benefits us all. In looking at the zakaah inquires and in particular on the case of Br xxxx (name removed by website) I would like … Continue reading
August 28, 2024
by Ml. Muhammed Shoayb
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I feel weak, can i bully you on Zakah issue
Q: When a person has amount of nisab that person cannot get zakah. Period. I have spoken to a few mufti and they have said that once nisab is attained then zakah does not apply for that person. If you … Continue reading
May 31, 2024
by Ml. Muhammed Shoayb
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Can i exchange pork earnings for Qurban!
Q: If a person earnings is totally haram and he admits that it is from haram sources, does it affect his Qurbani? He sells alcohol and pork and it brings in over 85% of his money.A: There is no qurbani … Continue reading