Charging by the Hour by Estimation

بِسْمِ اللَّـهِ الرَّحْمَـٰنِ الرَّحِيمِYour concern regarding good business practices is praiseworthy.In response to your concern, it must be noted that the ruling depends on how you are communicating to your clients. If you make a statement, for example saying, “This kind of work takes approximately ten hours and I will...

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Fiqh of Signatures

DefinitionThe literal meaning of ‘signature’ is handwriting, however, technically, it means writing one’s name as a mark to represent oneself. One may write one’s name so simply that others can imitate it easily or the name can also be written in a complicated style so that imitation would be somewhat...

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Trading Commodities Like Silver in Islam

بِسْمِ اللَّـهِ الرَّحْمَـٰنِ الرَّحِيمِYes, it is permissible to trade commodities like silver, in Islam.I have listed below some of the basic principles regarding business and trade (These principles are taken from the famous fiqh manual, Mukhtasar al Quduri by Imam Abul Hasan al Quduri):There must be offer and acceptance, meaning...

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I Pay Interest and I Hate it. Am I Sinful?

بِسْمِ اللَّـهِ الرَّحْمَـٰنِ الرَّحِيمِMay Allah bless you for your concern regarding the deen.Allah is the only Entity that makes a decision regarding sins. I am in no position to judge whether you are sinful or not. That being said, it should be noted that interest based transactions are prohibited through...

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Are Islamic Banking Institutions ‘Back Door Riba’ Outlets?

بِسْمِ اللَّـهِ الرَّحْمَـٰنِ الرَّحِيمِMay Allah Almighty bless you tremendously for your concern on financial matters.There are numerous islamic financial institutions that are based on Islamically acceptable principles such as Murabhah (profit based sales) and Mudharabah (profit sharing partnership) etc. Many are also supervised by third party scholarly committees who thoroughly review and approve...

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