Category: Finance & trade

Finance & trade

Ruling about 2% incentive on remittance given by the government of Bangladesh

by Mufti Hussain Syed ibn Imamuddin
Ruling about 2% incentive on remittance given by the government of Bangladesh

Question:

The Government of Bangladesh is currently giving a 2% incentive on money sent by expatriate Bangladeshis, e.g. If you are a Bangladeshi national sending money back home, the government will add 2% to your transfer. The 2% incentive will be given to remittance receivers either as cash or into their bank accounts. Is it permissible to accept that 2% incentive or will it be considered as interest?

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Finance & trade

lending someone money (qardh) with the condition of paying zakat on that amount

by Mufti Hussain Syed ibn Imamuddin
lending someone money (qardh) with the condition of paying zakat on that amount

Question:

Will it be permissible to lend someone money (qardh) with the condition of paying zakat on that amount? For example: one is to lend £2,000 for 2 years, adding condition for the borrower to pay zakat on that amount for the duration of 2 years on behalf of the lender.

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Finance & trade

Ruling on The government Bounce Back Loan Scheme

by Mufti Hussain Syed ibn Imamuddin
Ruling on The government Bounce Back Loan Scheme

Question:

Is it permissible for a muslim to take out the government Bounce back loan, which is currently interest free for the first year? If one intends to pay the loan back within the first year but is also weary of the fact that if he/she is unable to pay it back for some reason then interest will be added to the loan. This is a government backed loan which means that the government takes liability to pay it back if the business can’t pay it back.

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Finance & trade

Ruling on working as a delivery driver for companies like uber eats, deliveroo etc where the job role is to deliver food/drink which may be halal or haram

by Mufti Hussain Syed ibn Imamuddin
Ruling on working as a delivery driver for companies like uber eats, deliveroo etc where the job role is to deliver food/drink which may be halal or haram

Question:

Is it permissible to work as a delivery driver for companies like uber eats, deliveroo etc where the job role is to deliver food/drink which may be halal or haram?

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