Riba

My husband took a loan 5 years back and he is still trying to pay it. the interest rate in his monthly installments is 70% e.g he pays $2000 monthly out of which $1500 is interest. My question is can i take a loan with 20% interest rate to pay my husband’s loan which has a 70% interest rate? This way his interest would be lower and repayments would be quicker.

Halal/Haram Matters, Loans, Riba

18 Apr

ANSWER: This is totally prohibited! Two wrongs don’t make a right!

My son in law feels sad giving rent like he is wasting money so someone advised him to buy a house on mortgage, even though he knows its haram, they gave him various logics. I want to convince him, can i explain that the rent you pay will count as charity towards your wife and children.

Halal/Haram Matters, Riba

02 Apr

ANSWER: Tell him that by paying rent, you are rewarded for it as it is for halal accommodation. When you buy a house in mortgage which is riba based, you are fighting Allah and His messenger and Allah Will wage war against you as it is a major sin islam.

My father got bond for my daughter. are you allow to used that money for anything. what is the islamic ruling. such as buying car,for your srudy or get marriage.

Halal/Haram Matters, Riba

07 Feb

ANSWER: If this is interest based, this is prohibited but as a gift to your daughter, if you possess control over it, you must sell it and cash it in immediately and you can use the money in the interest of the daughter. shaikh i had purchased some prize bonds earlier.Now i want to sell […]

My parents use credit cards and nowadays everything can be done online, so they asked me to download the app and install everything for them and also to, sometimes buy sth. with it because they don’t know how to do it, am I sinful (they think it is necessary to have one in Germany)

Halal/Haram Matters, Riba

08 Nov

ANSWER: The sin is not upon you. If there is no other Islamic alternative or debit card, a credit card seems permissible if it is a necessity. As long as they don’t allow interest to accumulate and they pay off in advance or immediately, this is permissible.

I am currently a university student and every semester the school gives us 1 month to pay the tuition before it accumulates intrest. Every semester I pay the tuition on time but this semester I unknowingly missed a small portion of the tuition which has now accumulated interest. What should I do in this situation.

Halal/Haram Matters, Riba

02 Nov

ANSWER: It is prohibited to give late fee on delayed payments. However, if you had done that unknowingly, you must repent to Allah and never delay it again.

My deceased husband had taken an life insurance plan.We had paid an capital amt of INR 10 lakhs in 5 yrs.After his death i got 10 lakh extra on our capital amt.Are me my orphaned children allowed to use that extra money apart from our capital amt.

Inheritance, Riba

26 Oct

ANSWER: Yes, you can use it. It’s his inheritance and it must be divided among all his heirs according to shariah law. The person who has taken the Riba based insurance is sinful and not his heirs.

Is it permissible to have a credit card if the person; -Does not pay any type of fees/charges on it -Does not incur any type of riba on it -Pays full credit card balance every month.

Riba

23 Oct

ANSWER: If there is no other Islamic alternative or debit card, this seems permissible if it is a necessity. The problem is with signing an agreement approving riba if the grace period was exceeded.