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: Money Talk
March 13, 2025
by Ml. Muhammed Shoayb
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‘Saying no to zakah business’
Q: My families yearly zakah is about $200 000, I lose about 20-40% in transaction costs when giving through organizations. We do not wish to pay for zakah ‘collectors’ hotel stays, rental car fees, them sending 3 paid employees to … Continue reading
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 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
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
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
October 4, 2023
by Ml. Muhammed Shoayb
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Q: As a medical professional what is my role when an ingredient is haram? A: As Muslims we must first prescribe the halal option, if a halal option does not exist, than to the extent that a prescription is necessary, … Continue reading
January 26, 2023
by Ml. Muhammed Shoayb
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Earning a Living with Dignity: Wisdom from the Quran and Hadith
Verily, the one who fears Allah and keeps his duty to Him, He will make a way out for him and will provide for him from where he did not expect – Quran (65:2-3) Ubaydullah ibn Mihsan al-Ansari al-Khatmi (May … Continue reading