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Is the Islamic Account Offered by Lloyds Bank Shariah Compliant?

Posted by Mufti Faraz Adam in Finance, Money & Finance, Q & A

Question: Does the Islamic (current) Account offered by Lloyds Bank contain interest and is it permissible? In the Name of Allah, the Most Gracious, the...

Comment off 2 years ago

Is The Profit and Loss Account Used For Zakat Calculation?

Posted by Mufti Faraz Adam in Money & Finance, Q & A, Zakaat/Sadaqaat (Charity)

Question: Is The Profit and Loss Account Used For Zakat Calculation? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi...

Comment off 2 years ago

Can I Open an Interest bearing Bank Account in Order to Donate the Interest to Charity?

Posted by Mufti Faraz Adam in Finance, Money & Finance, Q & A

Question: Can I Have an Interest bearing Bank Account in Order to Donate the Interest to Charity? In the Name of Allah, the Most Gracious,...

Comment off 3 years ago

Are Overdraft Facilities in Bank Accounts Permissible?

Posted by Mufti Faraz Adam in Finance, Money & Finance, Q & A

Question: Are Overdraft Facilities in Bank Accounts Permissible? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. The Answer:...

Comment off 3 years ago

Is Zakat payable on Fixed Term Deposit accounts in Islamic Banks managed under Wakalah?

Posted by Mufti Faraz Adam in Money & Finance, Zakaat/Sadaqaat (Charity)

Question: Is Zakat payable on Fixed Term Deposit accounts in Islamic Banks managed under Wakalah? In the Name of Allah, the Most Gracious, the Most...

Comment off 3 years ago

Are Deposits Held in an Offset Mortgage Account Subject to Zakat?

Posted by Mufti Faraz Adam in Money & Finance, Zakaat/Sadaqaat (Charity)

Question: Are Deposits Held in an Offset Mortgage Account subject to Zakat? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum...

Comment off 3 years ago

Are ISAs Shariah compliant?

Posted by Mufti Faraz Adam in Finance, Money & Finance, Q & A

Question: Are ISAs Shariah compliant? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. The Answer: Individual Savings Account...

Comment off 3 years ago

Is it permissible to benefit from the incentives offered for switching to a Reward Current Account with Halifax?

Posted by Mufti Faraz Adam in Finance, Money & Finance, Q & A

Question: Is it permissible to benefit from the incentives offered for switching to a Reward Current Account with Halifax? In the Name of Allah, the...

Comment off 3 years ago

Is the Rewards Account in Natwest Bank Shariah compliant?

Posted by Mufti Faraz Adam in Finance, Money & Finance, Q & A

Question: Is the Rewards Account in Natwest Bank Shariah compliant? Answer: In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi...

Comment off 3 years ago

How would a couple calculate Zakat on a joint account?

Posted by Mufti Faraz Adam in Q & A, Zakaat/Sadaqaat (Charity)

Question: How would a couple calculate Zakat on a joint account? Answer: In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum...

Comment off 3 years ago

Can a traveller who was robbed accept zakāt funds if he still has access to his bank account?

Posted by Mufti Faraz Adam in Q & A, Zakaat/Sadaqaat (Charity)

Question: A traveller (musāfir) was robbed whilst travelling and lost the means of his return home.  He has wealth equal to nisaab in his own...

0 comments 6 years ago

Indices | 23 February 2019

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