They pay a dividend to their employee and deposit the dividend in a for-profit interest-bearing bank. What is the ruling ? I work in an aluminum factory in Canada. At the end of each year the company pays employees a portion of the profits. They pay employees a portion of the cash. Another part is c

They pay a dividend to their employee and deposit the dividend in a for-profit interest-bearing bank. What is the ruling ? I work in an aluminum factory in Canada. At the end of each year the company pays employees a portion of the profits. They pay employees a portion of the cash. Another part is compulsorily kept in the bank ; Which can be found when retiring. Interest is based on the portion that is kept in the bank. There is no way out. But there is a way to avoid this profit. That means investing in them. But even in that case they will use this money in haraam business ; Such as interest bank , alcohol hall , cigarettes , other things and other investments of interest banks.
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1 Answer

Answer :

Alhamdulillah. The portion that the company pays at the end of each year is a portion of the employee's remuneration and salary. Since this money is kept separately in a specific account for the employee, it is treated as an asset owned by the employee. But on the job , Not being allowed to intervene in the money before retiring undermines its ownership of the money ; Although does not cancel the original ownership. This money kept by the company in the interest bank is nothing but a gross injustice. Since they have illegally interfered with his rights by depositing the money. Even if we assume that he is being prevented from interfering with this money on the basis of his consent by signing the employment contract . But under no circumstances can it be legal for them to deposit this money in an interest-bearing business. After receiving this money, it will be necessary for the employee to: make it interest free ; Although at first he was not satisfied. Because this interest arises from its money. He will free the wealth in this way: give the extra interest to a good cause ; So that you can free yourself from haraam goods. However , do not leave the extra interest to them. And if the issue is whether to increase this wealth through net interest or through haraam mixed investment: then the second option is definitely less serious than the first. In that case too, after accepting the money, it must be freed from the haram part. Will try to determine the amount of haram part as much as possible. GOD is Omniscient.
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Last Answer : One: It is haraam to deposit money in an interest-bearing bank without the need to save money. For that, it should be limited to depositing money in (current bank's) current account. It is not permissible to ... It can be eaten. And if it can be kept in a better and cleaner bank then that is better.

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Last Answer : Conventional banks or associations are based on interest economy. The exchange of interest is the main work of these banks or associations. In the present capitalist economy, these banks are the main means of ... 3 More See books like Ahsanul Fatawa-3/209 , Imdadul Fatawa-1/411 , Gunia-480 etc.

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Ruling on giving Zakat to brothers and sisters , uncles, aunts and all other relatives ? Is it permissible for a brother to give zakat to his indigent brother (who has a family but does not go with his income) ? Similarly, would it be permissible to give zakat to a poor uncle ? Similarly, can a woma

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Last Answer : : There is no objection on the part of any man or woman to give zakat to his poor brother , sister , uncle , aunt and all the poor relatives. Since the documents related to this are general. On the ... ; Rather, they must be able to afford it ; If there is no one else to run their expenses.

I found out that my mother (who is a non-Muslim) is planning to have a surprise party on my birthday . What is the ruling ? If it is illegal then how can I not hurt my mother while withdrawing it ?

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A man invests Rs. 20,000 in Rs. 80 shares of a company available at a premium of Rs. 20. IF the company pays a dividend of 8%, then find the rate of r

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Your finance department is primarily concerned with a. acquiring the capital needed for company activities. b. establishing a dividend policy that maximizes the return to shareholders. c. setting credit policies for customers and suppliers. d. profits. e. all of the above.

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Can I take a loan with a mobile mortgage ? I need some money for a visa. I told one , you give me so much money with my mobile. If I can do my job then you will take the mobile. And if it doesn't work, I will pay all the money in three months. Is this type of transaction permissible ?

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Shweta deposits a certain amount on 1st January and 1st July (Same amount on both days) in a bank that offers 5% compound interest, compounded half-yearly. Shweta gains interest of Rs.121 at the end of the year. How much money did Shweta deposit? a) 1200 b) 1300 c) 1400 d) 1500 e) 1600

Description : Shweta deposits a certain amount on 1st January and 1st July (Same amount on both days) in a bank that offers 5% compound interest, compounded half-yearly. Shweta gains interest of Rs.121 at the end of the year. How much money did Shweta deposit? a) 1200 b) 1300 c) 1400 d) 1500 e) 1600

Last Answer : Let the amount be P Half yearly rate = 5/2 = 2.5% For the deposit on January, Amount = P (1 + 2.5 / 100)2 For the deposit on July, Amount = P (1 + 2.5 /100) We can solve the question by ... Amount in July = 1600 1.025 = 1640 So total interest = 81 + 40 = 121 Required answer is 1600 Answer: e)

Which of these is/are not included in net domestic product at factor cost. (a) Wages or compensation of employees ; (b) Rent, interest, profits or operating surplus; (c) Mixed income ; (d) None

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Last Answer : (d) None

Which deposit bank does not pay any interest ?

Description : Which deposit bank does not pay any interest ?

Last Answer : The bank does not pay any interest on current deposits.

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If a company is given credit terms of 2/10, n/30, it should a. hold off paying the bill until the end of the credit period, while investing the money at 10% annual interest during this time. b. pay within the discount period and recognize a savings. c. pay within the credit period but don't take the trouble to invest the cash while waiting to pay the bill. d. recognize that the supplier is desperate for cash and withhold payment until the end of the credit period while negotiating a lower sales price.

Description : If a company is given credit terms of 2/10, n/30, it should a. hold off paying the bill until the end of the credit period, while investing the money at 10% annual interest during ... desperate for cash and withhold payment until the end of the credit period while negotiating a lower sales price.

Last Answer : b. pay within the discount period and recognize a savings.

In the context of giving charity on behalf of someone unknowingly ? Is it necessary to inform or inform them if I give charity on behalf of their parents while they are alive ? Is it permissible to give charity on behalf of anyone other than one's parents? Can I do charity on behalf of another perso

Description : In the context of giving charity on behalf of someone unknowingly ? Is it necessary to inform or inform them if I give charity on behalf of their parents while they are alive ? Is it permissible to give ... on behalf of anyone other than one's parents? Can I do charity on behalf of another person ?

Last Answer : All praise is due to Allah. If he gives charity on behalf of another, it is not obligatory to inform that person about the charity. In the same way, it is not a condition to be charitable only on ... charity for both the living and the dead. Finished Nurun (14/303) from Alad Darb] Allah knows best.

The return on investment (ROI) may be calculated as A. Net profit before interest, tax and dividend / Capital employed B. Net profit after interest, tax and dividend / Shareholder's fund C. ( Net profit - preference dividend )/ No. of equity shares D. Return on Investment / Net profit ratio

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Last Answer : A. Net profit before interest, tax and dividend / Capital employed

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Last Answer : a. The funds needed for the day to day running of the company

In the case of financial enterprises, the cash flow resulting from interest and dividend received and interest paid should be classified as cash flow from A. Operating activities B. Financing activities C. Investing activities D. None of the above

Description : In the case of financial enterprises, the cash flow resulting from interest and dividend received and interest paid should be classified as cash flow from A. Operating activities B. Financing activities C. Investing activities D. None of the above

Last Answer : A. Operating activities

Cash flow from financing activities include payment of interest on borrowing and___ to share holders a) Dividend b) Interest c) Bonus d) Bonus shares

Description : Cash flow from financing activities include payment of interest on borrowing and___ to share holders a) Dividend b) Interest c) Bonus d) Bonus shares

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Can I get a job in an internet company ? I work for a broadband internet company. My job description is: I keep track of the monthly bill customers go to the office. In that case, will it be permissible to do this job ? It will be beneficial if you kindly inform me.

Description : Can I get a job in an internet company ? I work for a broadband internet company. My job description is: I keep track of the monthly bill customers go to the office. In that case, will it be permissible to do this job ? It will be beneficial if you kindly inform me.

Last Answer : Islam does not allow working in an organization that does haraam work. For example, it is not permissible in Islam to work in an interest-bearing bank or a drug company . So your job in a broadband internet company will be legal. (Jadid Fiqhi Masail 299)

Is zakat obligatory if gold is less than seven and a half ounces ? My wife has 5 heavy gold ornaments which she uses for various occasions. Besides, there is no more money or resources. What will be his zakat ? He has no income. If you have to pay zakat, will you sell the jewelry and pay zakat ?

Description : Is zakat obligatory if gold is less than seven and a half ounces ? My wife has 5 heavy gold ornaments which she uses for various occasions. Besides, there is no more money or resources. What will be his zakat ? He has no income. If you have to pay zakat, will you sell the jewelry and pay zakat ?

Last Answer : If your wife really does not have any other assets (such as cash , silver or business goods) other than 5 ounces of gold, then zakat will not be obligatory on you just because of that gold. Because zakat on ... ; Raddul Muhtar 2/296 ; Albahroor Rayek 2/228 , 2/228 ; Fatawa Tatarkhania 3/154 ; 263)

Do you have to pay Zakat on private car ?

Description : Do you have to pay Zakat on private car ?

Last Answer : There is no zakat in it. There is no zakat on anything used by man except gold and silver. For example , cars , camels , horses , houses, etc. Because the Prophet (peace and blessings of ... وَلَا فَرَسِهِ صَدَقَةٌ , Chapter: Zakat , Paragraph: A Muslim does not have Zakat on slaves and horses.

Brother go with the answer ? I run someone's wifi , but the owner doesn't know. Will it be my sin ? The owner is not having any problem in running me , because I have to pay the bill even if I drive , I have to pay the same bill even if I do not drive. [ I can read islamic articles because of this wifi ] :)

Description : Brother go with the answer ? I run someone's wifi , but the owner doesn't know. Will it be my sin ? The owner is not having any problem in running me , because I have to pay the bill even if I ... pay the same bill even if I do not drive. [ I can read islamic articles because of this wifi ] :)

Last Answer : You have no right to use anything without permission. Since the owner will not be harmed , and you are also using the net for good, you should let the owner know. Otherwise it is a crime of theft.

The SCSS account transferred one Post office to another post office a) Rs 5/- per lac will be charged where the deposit is Rs 1 lac and above b) Rs 10/- per lac will be charged where the deposit is Rs 1 lac and above on second transfer. c) No fee will be charged d) Both the A and B( The fee will be paid by cash through pay in slip

Description : The SCSS account transferred one Post office to another post office a) Rs 5/- per lac will be charged where the deposit is Rs 1 lac and above b) Rs 10/- per lac will be charged where the deposit is Rs 1 ... No fee will be charged d) Both the A and B( The fee will be paid by cash through pay in slip

Last Answer : d) Both the A and B( The fee will be paid by cash through pay in slip

Ploughing-back of profits means– (A) Dividend declared but not claimed by shareholders (B) Non-declaration of dividend in any year (C) Profits earned from illegal sources and employed in business (D) Retaining the earnings of business for future expansion programme

Description : Ploughing-back of profits means– (A) Dividend declared but not claimed by shareholders (B) Non-declaration of dividend in any year (C) Profits earned from illegal sources and employed in business (D) Retaining the earnings of business for future expansion programme

Last Answer : Answer: Retaining the earnings of business for future expansion programme

A young man decides to buy a collector's baseball card. He pays $60 for it. After a month, the value of the card has increased to $70 and he decides to sell it. But already a few days later he regrets his decision to sell the collector's item, and he buys it again. Unfortunately he has to pay $80 to get it back, so he loses $10. After a year of owning the baseball card, he finally decides to sell it for $100. What is his overall profit? -Riddles

Description : A young man decides to buy a collector's baseball card. He pays $60 for it. After a month, the value of the card has increased to $70 and he decides to sell it. But already a few days later ... of owning the baseball card, he finally decides to sell it for $100. What is his overall profit? -Riddles

Last Answer : $30.00. Overall profit, not net profit!

Will they receive death compensation from the insurance company ? The government of our country forces us to insure cars. The car owner does not benefit from this. If the car hits someone , causing the person to be injured or killed, the family of the deceased files a lawsuit against the insurance c

Description : Will they receive death compensation from the insurance company ? The government of our country forces us to insure cars. The car owner does not benefit from this. If the car hits someone , causing the ... of the deceased forgives the owner of the car and our country is governed by man-made laws.

Last Answer : Alhamdulillah. One: Trade insurance is included in the haram agreement. All the methods of this insurance are haram. It is not permissible for anyone to have such insurance ; Unless one is completely ... atonement for the accidental death ; if the accident happened by mistake. " GOD is Omniscient.

If and 2000 is placed in a bank account that pays 3 compound interest per year how much will be in the account in 2 years?

Description : If and 2000 is placed in a bank account that pays 3 compound interest per year how much will be in the account in 2 years?

Last Answer : 2120.8

If and 2000 is placed in a bank account that pays 3 compound interest per year how much will be in the account in 2 years?

Description : If and 2000 is placed in a bank account that pays 3 compound interest per year how much will be in the account in 2 years?

Last Answer : 2120.8

The following data, relates to manufacturing company for the year 2006-07– Net Profit as per P & L A/c–Rs. 2,40,000; Depreciation–Rs. 80,000; Goodwill written-off– Rs. 40,000, Profit on Sale of Fixed Assets–Rs. 16,000, Proposed Dividend–Rs. 96,000. The fund from operation would be– (A) Rs. 4,40,000 (B) Rs. 4,00,000 (C) Rs. 6,40,000 (D) None of the above

Description : The following data, relates to manufacturing company for the year 2006-07- Net Profit as per P & L A/c-Rs. 2,40,000; Depreciation-Rs. 80,000; Goodwill written-off- Rs. 40,000, Profit on Sale of Fixed Assets-Rs. 16,000, ... ) Rs. 4,40,000 (B) Rs. 4,00,000 (C) Rs. 6,40,000 (D) None of the above

Last Answer : Answer: None of the above

Anwar and Bhaskar started a business with investments of Rs.15000 and Rs.24000. At the end of 4 months from the start of the business, both withdrew one-third of their respective capital. Find the ratio of their profits in the total profit at the end of one year. a)1:2 b)3:4 c)4:5 d)5:8

Description : Anwar and Bhaskar started a business with investments of Rs.15000 and Rs.24000. At the end of 4 months from the start of the business, both withdrew one-third of their respective capital. Find the ratio of their profits in the total profit at the end of one year. a)1:2 b)3:4 c)4:5 d)5:8

Last Answer : d)5:8

‘Those profits which the person in wrongful possession of such property actually received or might with ordinary diligence have received there from, together with interest on such profits, but shall not include profits due to improvements made but the person in wrongful possession’ (a) Means profit (b) Interest (c) Principal sum (d) None of the above

Description : Those profits which the person in wrongful possession of such property actually  received or might with ordinary diligence have received there from, together with  interest on such profits, but shall not include profits ... (a) Means profit (b) Interest (c) Principal sum (d) None of the above

Last Answer : (a) Means profit

4 rak'at prayers How to break the prayers at the end of 1 rak'at ? How to break the prayers at the end of 1 rak'at in 4 rak'at prayers ? Need to end the salute back to 2 ? If I am standing, can I return the salutation to 2 ???

Description : 4 rak'at prayers How to break the prayers at the end of 1 rak'at ? How to break the prayers at the end of 1 rak'at in 4 rak'at prayers ? Need to end the salute back to 2 ? If I am standing, can I return the salutation to 2 ???

Last Answer : No , salutation cannot be returned while standing