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	<title>Money Matters Archives - IMAM-US.org</title>
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	<description>Imam Mahdi Association of Marjaeya</description>
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	<title>Money Matters Archives - IMAM-US.org</title>
	<link>https://imam-us.org/article-categories/money</link>
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	<item>
		<title>Am I allowed to work in government bank in non-Muslim country?</title>
		<link>https://imam-us.org/get-answers/am-i-allowed-to-work-in-government-bank-in-non-muslim-country?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=am-i-allowed-to-work-in-government-bank-in-non-muslim-country</link>
		
		<dc:creator><![CDATA[a.sarwar]]></dc:creator>
		<pubDate>Fri, 01 Sep 2023 20:32:43 +0000</pubDate>
				<guid isPermaLink="false">https://imam-us.org/?post_type=ht_kb&#038;p=107450</guid>

					<description><![CDATA[<p>Am I allowed to work in government bank in non-Muslim [&#8230;]</p>
<p>The post <a href="https://imam-us.org/get-answers/am-i-allowed-to-work-in-government-bank-in-non-muslim-country">Am I allowed to work in government bank in non-Muslim country?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
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<p><strong>Am I allowed to work in government bank in non-Muslim country (India) in usury related jobs like cashier officer?</strong></p>



<p>If your job involves usurious transactions and the party that pays the interest/usury is a Muslim, it is not permissible to work in that job.</p>



<p><em>[According to the opinion of Sayyid al-Sistani]</em></p>
<p>The post <a href="https://imam-us.org/get-answers/am-i-allowed-to-work-in-government-bank-in-non-muslim-country">Am I allowed to work in government bank in non-Muslim country?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
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		<title>Is khums due on minimum required bank balances?</title>
		<link>https://imam-us.org/get-answers/is-khums-due-on-minimum-required-bank-balances?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=is-khums-due-on-minimum-required-bank-balances</link>
		
		<dc:creator><![CDATA[a.sarwar]]></dc:creator>
		<pubDate>Sat, 02 Sep 2023 03:21:54 +0000</pubDate>
				<guid isPermaLink="false">https://imam-us.org/?post_type=ht_kb&#038;p=107454</guid>

					<description><![CDATA[<p>As you know in western bank accounts, there is now [&#8230;]</p>
<p>The post <a href="https://imam-us.org/get-answers/is-khums-due-on-minimum-required-bank-balances">Is khums due on minimum required bank balances?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
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<p><strong>As you know in western bank accounts, there is now a requirement to keep a certain amount of money in your checking account to avoid maintenance fee. Do we have to pay khums on those amounts?</strong></p>



<p>If the money remains until your Khums date unused, then Khums must be paid. For further clarification please call 3135624626.</p>



<p></p>



<p><em>[According to the opinion of Sayyid al-Sistani]</em></p>
<p>The post <a href="https://imam-us.org/get-answers/is-khums-due-on-minimum-required-bank-balances">Is khums due on minimum required bank balances?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
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		<title>What should believers do when their money has become mixed with unlawful money?</title>
		<link>https://imam-us.org/get-answers/what-should-believers-do-when-their-money-has-become-mixed-with-unlawful-money?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=what-should-believers-do-when-their-money-has-become-mixed-with-unlawful-money</link>
		
		<dc:creator><![CDATA[a.sarwar]]></dc:creator>
		<pubDate>Thu, 18 Jan 2024 19:26:34 +0000</pubDate>
				<guid isPermaLink="false">https://imam-us.org/?post_type=ht_kb&#038;p=113273</guid>

					<description><![CDATA[<p>Some believers work in several different fields, and sometimes they [&#8230;]</p>
<p>The post <a href="https://imam-us.org/get-answers/what-should-believers-do-when-their-money-has-become-mixed-with-unlawful-money">What should believers do when their money has become mixed with unlawful money?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
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<p><strong>Some believers work in several different fields, and sometimes they notice that part of their money, albeit a little, has become mixed with unlawful money. What is their religious duty?</strong></p>



<p>If the amount of the unlawful money and its owner are known, then they must return it to the owner. If they do not know the owner, then the amount must be given to charity (sadaqah) on their behalf.</p>
<p>The post <a href="https://imam-us.org/get-answers/what-should-believers-do-when-their-money-has-become-mixed-with-unlawful-money">What should believers do when their money has become mixed with unlawful money?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
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		<title>What should believers do when their money has become mixed with unlawful money?</title>
		<link>https://imam-us.org/get-answers/what-should-believers-do-when-their-money-has-become-mixed-with-unlawful-money-3?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=what-should-believers-do-when-their-money-has-become-mixed-with-unlawful-money-3</link>
		
		<dc:creator><![CDATA[a.sarwar]]></dc:creator>
		<pubDate>Mon, 10 Jun 2024 20:52:34 +0000</pubDate>
				<guid isPermaLink="false">https://imam-us.org/knowledge-base/what-should-believers-do-when-their-money-has-become-mixed-with-unlawful-money-3</guid>

					<description><![CDATA[<p>Some believers work in several different fields, and sometimes they [&#8230;]</p>
<p>The post <a href="https://imam-us.org/get-answers/what-should-believers-do-when-their-money-has-become-mixed-with-unlawful-money-3">What should believers do when their money has become mixed with unlawful money?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Some believers work in several different fields, and sometimes they notice that part of their money, albeit a little, has become mixed with unlawful money. What is their religious duty?</p>
<p>If the amount of the unlawful money and its owner are known, then they must return it to the owner. If they do not know the owner, then the amount must be given to charity (sadaqah) on their behalf.</p>
<p>The post <a href="https://imam-us.org/get-answers/what-should-believers-do-when-their-money-has-become-mixed-with-unlawful-money-3">What should believers do when their money has become mixed with unlawful money?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
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		<title>Is it permissible to get life insurance?</title>
		<link>https://imam-us.org/get-answers/is-it-permissible-to-get-life-insurance?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=is-it-permissible-to-get-life-insurance</link>
		
		<dc:creator><![CDATA[a.sarwar]]></dc:creator>
		<pubDate>Mon, 10 Jun 2024 20:52:34 +0000</pubDate>
				<guid isPermaLink="false">https://imam-us.org/knowledge-base/is-it-permissible-to-get-life-insurance</guid>

					<description><![CDATA[<p>What is the Islamic perspective on life insurance? Do we [&#8230;]</p>
<p>The post <a href="https://imam-us.org/get-answers/is-it-permissible-to-get-life-insurance">Is it permissible to get life insurance?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>What is the Islamic perspective on life insurance? Do we consider it as a guarantee, a conditional gift, or a contract? Is it permissible for a Muslim to insure their life and the lives of their family? Is it permissible for a Muslim to be the owner of a life insurance company? If a believer dies, are the funds received by the family considered inheritance?</p>
<p>Life insurance is an independent contract, and a Muslim may insure their life and the lives of their family. It is also permissible for a Muslim to own a life insurance company, provided that they do not engage in usury, like doing so for investment and [condition to receive] a share of a percentage of the profit between the owner and the insurer. As for what is disbursed to the family members of the deceased, it is not considered inheritance, but rather the property of the person named.</p>
<p>The post <a href="https://imam-us.org/get-answers/is-it-permissible-to-get-life-insurance">Is it permissible to get life insurance?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
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		<title>Is growing or trading cannabis (marijuana) permissible?</title>
		<link>https://imam-us.org/get-answers/is-growing-or-trading-cannabis-marijuana-permissible?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=is-growing-or-trading-cannabis-marijuana-permissible</link>
		
		<dc:creator><![CDATA[a.sarwar]]></dc:creator>
		<pubDate>Mon, 10 Jun 2024 20:52:39 +0000</pubDate>
				<guid isPermaLink="false">https://imam-us.org/knowledge-base/is-growing-or-trading-cannabis-marijuana-permissible</guid>

					<description><![CDATA[<p>What is the ruling on growing or trading cannabis (marijuana)? [&#8230;]</p>
<p>The post <a href="https://imam-us.org/get-answers/is-growing-or-trading-cannabis-marijuana-permissible">Is growing or trading cannabis (marijuana) permissible?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>What is the ruling on growing or trading cannabis (marijuana)? It is a plant that has less powerful narcotic effects than cocaine, for example, and it is also used for medical purposes.</p>
<p>If the purpose of growing it is not for preparing a narcotic substance, then there is no problem in it per se, as long as it has a permissible use as determined by rational people, such as the use of its fibers for making woven fabrics, stationery products, and ropes.</p>
<p>The post <a href="https://imam-us.org/get-answers/is-growing-or-trading-cannabis-marijuana-permissible">Is growing or trading cannabis (marijuana) permissible?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
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		<title>Is it permissible to deal with cryptocurrency?</title>
		<link>https://imam-us.org/get-answers/is-it-permissible-to-deal-with-cryptocurrency?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=is-it-permissible-to-deal-with-cryptocurrency</link>
		
		<dc:creator><![CDATA[a.sarwar]]></dc:creator>
		<pubDate>Mon, 10 Jun 2024 20:52:39 +0000</pubDate>
				<guid isPermaLink="false">https://imam-us.org/knowledge-base/is-it-permissible-to-deal-with-cryptocurrency</guid>

					<description><![CDATA[<p>Is it permissible to deal with cryptocurrency such as bitcoin, [&#8230;]</p>
<p>The post <a href="https://imam-us.org/get-answers/is-it-permissible-to-deal-with-cryptocurrency">Is it permissible to deal with cryptocurrency?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Is it permissible to deal with cryptocurrency such as bitcoin, ethereum, etc.?</p>
<p>His Eminence, Sayyid al-Sistani has not expressed a stance on this matter. Therefore, you may refer to another jurist who does have an opinion on this issue, starting from the most knowledgeable jurist and then the next.</p>
<p>The post <a href="https://imam-us.org/get-answers/is-it-permissible-to-deal-with-cryptocurrency">Is it permissible to deal with cryptocurrency?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
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		<title>Is khums due on one’s savings account</title>
		<link>https://imam-us.org/get-answers/is-khums-due-on-ones-savings-account?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=is-khums-due-on-ones-savings-account</link>
		
		<dc:creator><![CDATA[a.sarwar]]></dc:creator>
		<pubDate>Mon, 10 Jun 2024 20:52:39 +0000</pubDate>
				<guid isPermaLink="false">https://imam-us.org/knowledge-base/is-khums-due-on-ones-savings-account</guid>

					<description><![CDATA[<p>Is khums due on the money deposited into an employee [&#8230;]</p>
<p>The post <a href="https://imam-us.org/get-answers/is-khums-due-on-ones-savings-account">Is khums due on one’s savings account</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Is khums due on the money deposited into an employee savings account, such as a 401-K or IRA account? The savings in these accounts increase over time as a small percentage is taken from the employee’s salary and the employer adds a similar percentage to it. Both are then invested, and the entire savings are given to the employee upon retirement.</p>
<p>Khums is immediately due on the percentage that is contributed from the employee’s salary. On the other hand, the amount contributed by the employer and the investment profits are not subject to khums until received by the employee and they have exceeded the expenses for the year of receipt.</p>
<p>The post <a href="https://imam-us.org/get-answers/is-khums-due-on-ones-savings-account">Is khums due on one’s savings account</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
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		<title>Is financial leverage or borrowed capital permissible?</title>
		<link>https://imam-us.org/get-answers/is-financial-leverage-or-borrowed-capital-permissible?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=is-financial-leverage-or-borrowed-capital-permissible</link>
		
		<dc:creator><![CDATA[a.sarwar]]></dc:creator>
		<pubDate>Mon, 10 Jun 2024 20:52:52 +0000</pubDate>
				<guid isPermaLink="false">https://imam-us.org/knowledge-base/is-financial-leverage-or-borrowed-capital-permissible</guid>

					<description><![CDATA[<p>Some companies offer financial leverage or borrowed capital to their [&#8230;]</p>
<p>The post <a href="https://imam-us.org/get-answers/is-financial-leverage-or-borrowed-capital-permissible">Is financial leverage or borrowed capital permissible?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Some companies offer financial leverage or borrowed capital to their clients so that they can buy more shares in the stock market, even if it is more than what is currently owned in their investment account. The loaned amount is then paid back to the company after the client sells the shares and completes the transaction. If the customer loses money then the company withdraws the amount loaned to the client anyway, even if it has to offset the loss by taking from their investment account. Thus, the company is not responsible for the client’s profit or loss and it protects the loan from any risk. Is this transaction permissible?</p>
<p>From the description, there is nothing wrong in such a transaction if a manager or representative of the company lends you the mentioned amount and then allows you to buy and sell it in return for a specified commission if the company has the authority and power to do so.</p>
<p>The post <a href="https://imam-us.org/get-answers/is-financial-leverage-or-borrowed-capital-permissible">Is financial leverage or borrowed capital permissible?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
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		<title>Is it permissible for parents to spend the money of their children?</title>
		<link>https://imam-us.org/get-answers/is-it-permissible-for-parents-to-spend-the-money-of-their-children?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=is-it-permissible-for-parents-to-spend-the-money-of-their-children</link>
		
		<dc:creator><![CDATA[a.sarwar]]></dc:creator>
		<pubDate>Mon, 10 Jun 2024 20:52:52 +0000</pubDate>
				<guid isPermaLink="false">https://imam-us.org/knowledge-base/is-it-permissible-for-parents-to-spend-the-money-of-their-children</guid>

					<description><![CDATA[<p>Is it permissible for parents to spend the money of [&#8230;]</p>
<p>The post <a href="https://imam-us.org/get-answers/is-it-permissible-for-parents-to-spend-the-money-of-their-children">Is it permissible for parents to spend the money of their children?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Is it permissible for parents to spend the money of their non-baligh child? </p>
<p>It is permissible for the father to spend the money if it is not detrimental to the child. As for the mother, she does not have the right to spend the child’s money without the permission of the father or paternal grandfather. However, she may do so if either of them gives permission and it is not detrimental to the child. But it is not permissible for either parent to spend the money if the consequences are harmful to the child. Instead, they must save the money for the child until they are older.</p>
<p>The post <a href="https://imam-us.org/get-answers/is-it-permissible-for-parents-to-spend-the-money-of-their-children">Is it permissible for parents to spend the money of their children?</a> appeared first on <a href="https://imam-us.org">IMAM-US.org</a>.</p>
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