Service Charge Taken by Interest-free Loan Foundations
Bank Loan and Transactions
Service charges are taken to cover foundations expenditures. Therefore, foundation authorities should calculate service...
Q: What is the ruling concerning service charges taken by the interest-free loan
foundations?
A: Service charges are taken to cover foundations expenditures. Therefore,
foundation authorities should calculate service charges so that they are just
enough to cover current foundation expenses, like water, electricity, employees’
salary, etc. Yet if an amount remains extra, spending it is to be determined by
the foundation authorities.
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