I am a wholesale gold trader. My clients are retail gold shop owners. I sell them gold jewelry and ornaments on credit, and they repay me in weekly installments over a period of two months or more. The payments are made in cash for the labor charges and for the gold they owe me. In return, they may give me either cash or used gold.
It is not permissible to sell gold or silver on an installment basis or with a deferred payment; rather, immediate exchange is required. The Messenger of Allah (PBUH) said: "Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, and salt for salt, like for like, hand to hand. Whoever gives more or asks for more has engaged in usury; the giver and receiver are the same in this regard." (Muslim). Additionally, the weight of the gold must be equal when exchanging new for used; otherwise, it involves usury. The solution is to buy the used gold with cash, then sell the new gold for cash as well. However, payment must be made at the time of the transaction in both cases. Alternatively, one could take the used gold with the intention of refining it, reshape it into a new form, or repair it, then take a fee for the workmanship or repair. And Allah Knows Best
Who are the blood-relatives with whom kinship ties should be maintained?
Blood-relatives are those from the side of one`s father and mother: grandfathers, grandmothers, uncles, and aunts. And Allah Knows Best.
I have 490 shares in a commercial company, and they have been held for a year. The price of each share is one dinar, noting that the shares are at a loss. I want to know the amount of zakat due on them?
Commercial shares are subject to zakat based on their current market value, even if they are at a loss. The zakat rate is 2.5%. And Allah Knows Best.
A Christian woman wants to marry a Muslim man through an unregistered marriage contract and for a specific period because of certain circumstances. She is an adult and wants to know the correct procedure so as not to make any mistakes. What is the correct thing to do in this regard?
All perfect praise be to Allah the Lord of the Worlds. May His peace and blessings be upon our Prophet Mohammad and upon all his family and companions.
Every marriage should be conducted through court in order to preserve the rights of the spouses and avoid any accusations. In fact, a person shouldn`t be ashamed of what is lawful. Rather, he/she should overcome those circumstances and start in the correct way. And Allah The Almighty Knows Best.
