Adjustment Of Interest Against The Loss Of Prinicipal

Contemporary Fatawa, Economics, Fiqh

Q. In response to my question, you have replied in the Albalagh International-November 1991 issue – that I can adjust the interest money received earlier against the loss of my principal amounts in BCCI, your reply, I assume, is based on the assumption that I want to adjust the interest received earlier “FROM BCCI” against the expected loss of principal amount deposited with BCCI. Suppose the interest was not received from BCCI or only partly received from BCCI. Now the question is that can I adjust such interest amount against the loss of principal in BCCI?.
(M. S. Desai, Saudi Arabia)

July 20, 2010

A Will Of More Than One Third Of The Property

Contemporary Fatawa, Economics, Fiqh

Q. “On page 5 of the october, 1993 issue of ALBALAGH I have read with interest the commentary on Verses 180-182 and particularly the Hadith narrated by Sayyidna Ibn Abbas (R.A) and the conclusion given which purports to make it permissbile for an inheritor to receive more than his/her share if all inheritors allow the enforcement of a will which names an inheritor to receive more than his/her share.

June 28, 2010

Zakah On Unquoted Shares

Contemporary Fatawa, Fiqh

Q. “How is zakah calculated and paid on the unquoted shares which cannot be sold through stock Exchange? “
(Nafesa Raja Hong Chik, Malaysia)

A. Zakah is obligatory on the market value of the shares of every joint stock company. Although the market value of the unquoted shares cannot be determined through the stock Exchange, yet there are two ways to determine their value.

1. Some unquoted shares are sold and bought through “over the counter” transactions i.e. by mutual agreement of the buyer and seller and without the meditation of a stock Exchange. These “over the counter” transactions may determine the market value of the unquoted shares.

April 29, 2010


Contemporary Fatawa, Fiqh

In the recent past, I have answered questions in english on various aspects of shariah. Some of these questions were posed by the readers of the monthly journal known as Albalagh International published in english by Jamia Darul Uloom Karachi. The questions and answers have been compiled and arranged under relevant chapters in the form of this book, by my learned brother, Mahomed Shoaib Omar. He has been meticulous in reproducing the answers in their original literary form (for fear of altering the meaning in any way) but, at the same time, the learned editor has written, for the benefit of the readers, explanatory footnotes which elucidate certain answers, for which I am grateful. In the introduction, the learned editor has briefly explained the meaning of a Fatwa, and the basic principles which should be followed by a person (suitably qualified) issuing a Fatwa, which I trust will prove useful as a guide.

February 21, 2010