Day

August 18, 2017
Question: Index-linked-saving certificates: These are on sale intermittently and  for a term of 3 or 5 years. At the end of the term one can cash them or renew them for another term. The purpose is to keep the purchasing power of the money as when it was put in. This is done by adding...
Read More
Question: Is there Zakat on Aviva Life Insurance Plan? In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.  The Answer: Zakat is not binding on the premiums paid to the policy.  More importantly, life insurance policies are prohibited.  Entering into such contracts without any legal requirement or necessity is...
Read More
Question: Is it permissible to take part it in the Its On Us Scheme Offered By Lloyds Bank? The Answer: In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh. It is permissible to enter the It’s On Us free prize draw offered by Lloyds bank. The Fiqh (jurisprudence of...
Read More