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Mutual Loans
It is permissible to exchange these kinds of interest-free loans provided no fee, payment, or penalty is attached to them.
It is permissible to exchange these kinds of interest-free loans provided no fee, payment, or penalty is attached to them.
Unclaimed Funds
These amounts may be given away in charity. If the rightful owner returns, he must be informed of what was done. If he still demands the money, the...
These amounts may be given away in charity. If the rightful owner returns, he must be informed of what was done. If he still demands the money, the...
Unclaimed Cheques
It is permissible to give these funds away in charity after the bank has made every attempt to contact the client. If the owner returns after the...
It is permissible to give these funds away in charity after the bank has made every attempt to contact the client. If the owner returns after the...
Permissibility Of Debit Card In Islamic Finance
The use of a debit card is permissible provided the user does not exceed the available balance. This avoids any resulting interest charges. It...
The use of a debit card is permissible provided the user does not exceed the available balance. This avoids any resulting interest charges. It...
Permissibility Of Charge Card
For the avoidance of doubt, by charge card we mean a credit accessing instrument for which the debt incurred is to be paid off to the bank within a...
For the avoidance of doubt, by charge card we mean a credit accessing instrument for which the debt incurred is to be paid off to the bank within a...
Prohibition Of Credit Card In Islamic Finance
It is not permissible for an institution to issue credit cards that provide an interest bearing, revolving credit facility where the card holder...
It is not permissible for an institution to issue credit cards that provide an interest bearing, revolving credit facility where the card holder...
It is permissible to benefit from all Shariah-compliant privileges offered by card issuing authorities such as discounts to hotels and airline...
Investment
If you are a co-investor in a project, it is not a condition that other investors’ money be attained by Shariah-compliant means. You are only...
If you are a co-investor in a project, it is not a condition that other investors’ money be attained by Shariah-compliant means. You are only...
Possibility of Making A Credit Card Islamic
There are numerous structures currently prevailing in the market, most of which would not comply with AAOIFI. It would be difficult to make a...
There are numerous structures currently prevailing in the market, most of which would not comply with AAOIFI. It would be difficult to make a...
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