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Transactions (Shafii)

February 21, 2024 4 mins

Can I Buy Gold or Silver Online?

Answered by Shaykh Irshaad Sedick Question I recently invested in gold and silver and purchased silver bullion through a reputable online website. The process involved placing a buy order and an immediate email reply containing details for transferring the money within one banking day for transaction processing. Due to my lack of awareness, I transferred […]
February 17, 2024 3 mins

Can I Steal From a Gift That Was Promised to Me?

Answered by Shaykh Muhammad Carr Question  My mother plans to give me all her gold before she passes away, as I am her only daughter. She has already given me some. If I take a portion without her knowledge to sell for essential expenses, is it considered stealing and impermissible (haram)? If so, what steps […]
February 8, 2024 3 mins

Is Prop Firm Demo Trading (Forex) Permissible?

Answered by Shaykh Muhammad Carr Question  I understand why Forex trading is not shari’a compliant. None of those undesirables apply to prop firm demo trading, as you are not trading with real money on the markets. You are not involved in borrowing money, interest, gharar (uncertainty), or gambling. You are being paid based on your […]
January 9, 2024 3 mins

Can I Take Another Insurance Contract to Reduce the First One?

Answered by Shaykh Irshaad Sedick Question I live in the UK, where you are required by law to buy car insurance. Even with the lowest coverage, insurance at my age is very expensive. I have been given advice by the insurance company that if I pay for home insurance (which I intend never to use or […]