Question 1

Is income from cryptocurrency trading permissible (halal)?

Accepted Answer

The permissibility of cryptocurrency trading is a matter of contemporary scholarly debate. Trading in cryptocurrencies that serve a genuine commercial purpose may be permissible, provided the transaction is free of gharar (excessive uncertainty) and maysir (speculation). Day-trading purely for speculative gain should be avoided. Each currency and trading structure requires individual analysis.

Question 2

Can Zakat be paid in advance before a full lunar year (hawl) has passed?

Accepted Answer

Yes, it is permissible to pay Zakat in advance for one or multiple years, provided that the individual already possesses the nisab at the time of the advance payment.

Question 3

What is the ruling on taking out a conventional mortgage to purchase a home?

Accepted Answer

Conventional interest-based mortgages involve riba (usury/interest), which is explicitly prohibited. The majority scholarly position is that such mortgages are impermissible except in cases of dire necessity where no halal alternative exists.

Question 4

Is it obligatory to pay zakat on gold jewellery that one regularly wears?

Accepted Answer

The Hanafi position holds that zakat is obligatory on gold jewellery that meets or exceeds the nisab threshold (87.48 grams) regardless of whether it is worn regularly.

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