He took out a university loan on condition that if he is late in paying it off, he will pay interestI took a loan from university for over 2 years. The amount was more than 10,000 euros (about 15,000). I have to pay only 10,000 euros back once I'm done with university, and if I don't do it by a certain time, I have to pay interest for it. But I can keep the rest of the money (5,000 euros). So is this money haram? Is all of it haram, or only the 10,000€ that I have to pay back? Can I continue to take the loan?
Ruling on paying back a riba-based loan that was taken out by his fatherMy father took out a loan with a bank guarantee certificate to pay off the balance owed by my brother for his apartment, but no one except me can pay off the monthly instalments on the loan. My father agreed with me that I should pay the instalment on the loan every month, in return for him giving me the amount mentioned in the certificate when the loan is paid off. I objected to the interest mentioned in the certificate, but he told me that I will take the original amount mentioned in the certificate, and I do not have anything to do with any extra amount or interest. Please note that the original amount mentioned in the certificate will be mine. Is there any sin on me at present, because I am paying off the loan?
His brother is going to take his land and sell it, then keep the money, then return it to him sometime later with an increase of ten thousandMy brother suggested to me that I should give him the land that I own, so that he can sell it for whatever price he can, and spend the money of getting married, then he will return to me that price, whatever it is, with an increase of ten thousand. Is this riba? Should I accept this suggestion?
Is it permissible for him to take a riba-based loan, because he has accumulated debts and bills for rent and electricity, and he may be evicted from his home?I have a job, but my salary is very low. I have many debts, I owe rent for two years and I have outstanding bills for electricity and water. I have tried all means, but unfortunately no one will lend me money, because they know that I cannot pay them back. The problem has to do with rent and electricity. Is it permissible for me to take out a riba-based loan to pay the rent and electricity bills, for fear that my children and I will be evicted, and for fear of shame?
Should he cancel the investment certificates after a fatwa was issued stating that it is prohibited to invest in them? And what is the ruling on previous profit?I used to deduct a portion of profits from the Islamic bank where I put my money, in order to avoid dubious transactions that could be subject to error. Then the fatwa concerning that changed, which meant that I should put my money in a current account. 1.. What is the ruling on what remains of these profits that were previously given to me? Do I have to calculate what I earned in the past and give it to the needy, with the aim of getting rid of it, or should I do that from the date that I came to know of the change in the fatwa? 2.. What should I do with the investment certificates? Should I wait until they expire and not renew them? Or should I cancel them immediately, and bear the resulting losses for not completing the stated period?
What is the ruling on renting out space for installation of an ATM belonging to a bank?Is it permissible to give the property on rent to a white label atm service provider in india. White label atm service provider is not the bank
Ruling on buying an account on Amazon that already has a certain amount of credit, in return for more or less than what is already thereIs it permissible to buy an account on Amazon that already has a certain amount of credit, in return for less than that? For example, the account has credit of 1500 dollars, and I am buying it for 400 riyals.
Rulings on rewards for having a current account, if the reward comes after the customer withdrew all the money from that accountWhat is the ruling on rewards for having a current account, if the reward comes after the customer withdrew all the money from the account, or left a small amount in it, then sometime after that, the money given as a reward was deposited in my account. Is it permissible for me to accept it, on the grounds that the bank is not regarded as having borrowed money in that case? If using that reward is haraam, is it better for me not to fulfil the condition that will entitle me to such rewards, or to take the money and give it to charity?
Ruling on depositing money in the Barakah Islamic BankI am the administrator of the company accounts. The company has bank accounts in riba-based banks. Please note that the owners only have current accounts, and they do not accept the interest payments (riba). Is it better to put this deposited money in an Islamic bank, the Barakah Bank, in an account that will give a fluctuating return? If that is possible, then can this return be used to pay off taxes, customs levies, and the like? Or can it be used for all and any purposes?
Ruling on discounts and cashback offered by e-wallet appsNowadays, Many Android/ios Apps such as E-Wallets offer cashbacks for using their App, Customers can use these apps as per their need,for instance, 1. Transferring money to other's Bank Ac 2. Shopping At these apps( buying goods or services directly from it) 3. Shopping at other shops, But paying through these wallets Thus, for each of the above mentioned uses we get cashback from the app, is it halal?
Refutation of the specious argument which suggests that it is permissible to work in a riba-based bank because it is not possible to avoid doing business with people who engage in riba in the modern financial systemThis question is asked by my brother who wants more clarification on the topic of Riba. And he is in doubt regarding it saying that it is not possible to avoid it in todays financial system. On telling him that It is not allowed to work in banks as it deals with Interest and it is not allowed to assist them either . He argued with me with the following question(in double quote) “ 1. you use a lenovo laptop. Lenovo takes loans from various banks to run their operations. The loans are used to setup factories, pay employees and all other overheads. The interest based loans directly assist the company. 2. You buy a Porsche car. Porsche takes heavy loans from banks to run their company. You pay for the car, and this money is used to pay off interests from the loans. So you are directly assisting Porsche in clearing the loans “ So he is saying that if it is not allowed to work in banks then we should also not buy the above products. How should I reply to him. Kindly clarify.
Her husband bought a house with riba – can she refuse to live in it?My question is that my husband started to take a morgege,a home loun from a bank and the muslim allamah said that is riba and haram.He did'nt care about the case,but what is my hokom in this case??
Harmful effects of RibaAssalamu alaikum Why is Riba (Usury) forbidden? I need a convincing answer to give it to some of my brothers in town.Jazakum allah alf Khair
What should a person who his father borrowed with interest(Ribba) doOur father bought the house we currently live in before I was born. I am now 22yrs. Back then my family were being evicted from the place they were living in at the time and my father was under pressure to find my family a place to live. So, he bought a house using a bank mortgage. The mortgage was interest based as the system is over here in England. About two years after I was born, my father died and had not finished repaying the bank. The rest of the mortgage was paid off by my older brother, who was in employment at the time. Now my worry is if it is permissible for me to remain living in the house bought by my father and also if any of us can inherit a share of its money if it were to be sold? I look forward to the reply.
Doesn’t want to repay riba but also doesn’t want to give a bad impressionas-salaamu alaikum wa rahmatullahi wa barakatuhuplease inform we whether or not i must pay interest on loans i took out before coming to islam, or in my days of ignorance. i intend to pay off all of the principal ,of course, but i hate that i enter a state of war with Allah and His Messenger (SAW) because of fulfilling a haram contract that i entered while not knowing better. i would also hate to give muslims a bad name by not paying my debt conscientiously. can i pay of the principal and give a gift stipulating that i reject riba and that i am only giving this extra sum for another reason?may Allah subhanu wa ta'Ala reward you with the good.
Why Is Interest Haram?As we know interest is haram in Islam but can you please tell me why it is haram? I have some money but I don't know how to invest the money. There is someone who knows how to manage this money if I gave him my money and fix some amount for him as interest. We both agree on this and we are both pleased with this decision. Is it still haram? If yes, then can you please explain it for me?
Obtaining a discount card in return for paying a certain amountIn some bookshops there are advertisements for a scheme whereby the customer pays a set amount of money each month and gets two things: he will be supplied with new books in a specific area of interest, such as fiqh, etc, and he will get a 10% discount if he wants to buy books from these stores. What is the ruling on this?
Conditions for performing forbidden act under necessity and engaging in riba transactionsHere in Singapore, the Muslims have very little, if not any, chance to participate in non-interest based transactions. What advice can you give to us who have no choice but to be involved in these transactions for our basic needs?
Conditions of selling back to the seller what has not yet been receivedIn October 2016, it was the time of the date harvest and sale of the harvest by the farmers to the date dealers at competitive prices. Praise be to Allah, I bought ten tons of top-quality dates at the seasonal price, which is 5.5 dinars. But when I wanted to receive the quantity referred to above, the seller started to delay delivery, until finally he admitted that he did not possess this quantity of dates and he did not have the money to buy that quantity and quality of dates from the market. He wants to buy it back from me on credit, and without meeting the condition of exchange on the spot. Praise be to Allah and by the grace of Allah, may He be glorified and exalted, I did not agree to sell it back to him because I had not received it, and I insisted that he should deliver what I had ordered from him. But because a long time had passed, and after the end of Ramadan, this product became very scarce in the market, and most likely this seller who has been delaying delivery, even if he has the money now, will not be able to deliver my order to me, because the price has gone up and is now 11 dinars, and there is no one who can give you this large quantity even at this price. It is clear that this seller, who has been delaying delivery of my order, and after checking the market, will never be able to deliver my order with the same specifications and quantity until October of this year, after waiting for the new harvest. Please note that the price of a kilogram of dates will drop from 11 dinars to the regular harvest season price, which is 5.5 dinars, and I will lose the profit I could have made, which is 3.5-4.5 dinars, after deducting transportation and shipping costs. My question is: I do not know if I can sell to him without the exchange taking place on the spot. It seems that it is not permissible, on the grounds that dates are one of the types of food for which it is stipulated that the exchange should take place on the spot and it should be sold to a different merchant. Or should I ask him to compensate me for the profit I could have made, were it not for his clear delay in delivering my product for ten months and preventing me from benefiting from my cash by doing business with it, since it caused me to miss out on more than one opportunity by delaying delivery of the dates I could have sold?
Ruling on dividend bonds and investment certificates with prizesMy question has to do with bonds that entitle the bondholder to win a prize. In our country Pakistan, the State Bank of Pakistan issues bonds of different denominations – 200, 500, 1500 and so on – which is the sum you can withdraw at any time, before or after the prize draw, or after a specified period. The bank does a draw for prizes, and the holder of the winning bond gets the prize offered, which may be one hundred thousand or even ten million. Whether you win or not, you can withdraw the money with which you bought this bond. What I want to ask is: how can this be regarded as a kind of gambling, when there is no loss and no possibility of that, and you can take the money in cash at the end? How can anyone say that the money given in this prize is based on interest (riba)? I have read a hadith about that, in which the Prophet (blessings and peace of Allah be upon him) says: “Every loan that brings a benefit is riba.” Sunan al-Bayhaqi. Is this saheeh?