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Fatawaa - Search Sections - Current Financial Issues

How to Distribute the Financial Benefits of Solidarity Funds among Beneficiaries

I have subscribed in the Solidarity Fund of the Jordanian Constructions Contractors Association and specified the beneficiaries, in the event of my death, as "My children." Does the word "Awladi/My Children" encompass males and females? Should the benefits be divided amongst them equally or in accordance with the rules of Sharia?

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Ruling on Taking Guarantees from the Purchase Orderer before Receiving the Commodity from the Seller

We deal with an Islamic financial institution through a contract of Murabaha to the purchase orderer. However, this institution insists that we sign the contract and the promissory notes before it (bank) receives the commodities from the seller. What is the ruling of Sharia on this?

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Ruling on the Commissions Charged through E-Wallets

I have e-wallets like Orange Money and Zain Cash. I use these to pay water and electricity bills and traffic fines on behalf of the clients. Is it permissible to charge a commission for this service? For example, if the electricity bill is 10JDs, the client pays me 11JDs. If the client transfers 100JDs through one of the e-wallets, I take 5JDs out of that sum. Is this permissible?

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Ruling on Reducing Murabaha Ratio for Previous Funding

An investment fund finances employees in the form of Murabaha to purchase orderer up to eight years. Currently, the fund is reviewing the Murabaha* ratios and is expected to reduce the ratios for future contracts by one percentage point compared to the Murabaha ratio currently applied. Accordingly, is it permissible to reduce the Murabah ratio for the old funding and is this reduction compatible with the expected reduction for the future Murabaha ratio?

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Ruling on Trading Currencies Using Option Contracts

What is the ruling of Sharia on trading currencies using option contracts?

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Ruling on the Financial Leasing Contract of Etihad Company

What is the ruling of Sharia on the amended leasing contract offered by Etihad Leasing Company?

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Ruling on Buying Counterfeit Goods

What is the ruling of Sharia on buying goods from companies that make lookalike goods bearing fake trademarks?

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Ruling on the Contracts of Aoun Islamic Finance

Would you clarify the ruling regarding the contracts of Aoun Islamic Finance whereas they consist of: a promise by the purchaser orderer, a contract of buying the goods that are intended to be financed by their owners and goods sale contract throughout Murabaha to the purchase orderer? 

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Some Forbidden Forms Conducted with Portfolios

I have a portfolio in which I keep my money balance, however, I sometimes need cash so I transfer (100 JDs), for example, to a person`s account and he hands me (97 JDs) in cash. Is this permissible?

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Ruling on the Housing Loan Contract for the Staff of the Social Security Corporation

What is the ruling of Sharia on the attached housing loan contract for the staff of the Social Security Corporation?

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Ruling on Constructing an Additional Floor

What is the ruling on constructing a floor on roof of building?

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Ruling on Delay Penalties Charged on Pension Fund Participants

In case a member of  the Pension Fund failed to pay outstanding contributions, what is the ruling  of Sharia on imposing doubled delay penalties?

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Ruling on Marketing for Brokerage Firms

What is the ruling of Sharia on marketing for a brokerage firm (See attached copy)?

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Islamic Ruling on Financial Leasing Offered by Cities & Villages Development Bank
What is the ruling of Sharia on financial leasing contract (movable property) offered by Cities & Villages Development Bank; see attached copy?
 
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Ruling on Dealing with a Conventional Bank in Exchange for Marketing its Services

A conventional bank has offered to be the exclusive sponsor of my business in return for allowing it to put an ATM there. What is the Islamic ruling on this?

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