Riba

How is one supposed to survive in this day and age without a bank account?

31 Jan

ANSWER: You must open an account in an Islamic bank but if there’s no Islamic Bank in your city then you should open a current account that does not give interest but if this is not possible then in this case you can open a savings account due to necessity in the conventional bank which […]

I have received quarterly interest in salary, last time I remember very well I throw interest in the river. Would this money be helpful to someone in need?

Riba

17 Jan

ANSWER: Why would you do something like that?! You should take that interest money and give it to poor and needy Muslims. The interest money is haram and you must dispose this off to poor and needy Muslims in order to cleanse your wealth, without anticipating any reward for it. You cannot benefit from it nor […]

Is it permissible for me to work as an application specialist in an audit firm like ….?

Jobs, Riba

21 Oct

ANSWER: If this is a financial institution that is based on riba and giving consultancies to firms dealing in riba, working in such a firm is totally prohibited.

sheikh pls I want to ask if investing in an agricultural and livestock business that gives you 20% of your investment every month.and when you want the amount you invested you’d just inform them 3months before the time and they would refund your initial amount. I want to know if this is halal.Because of the amount given to you monthly.Thou it is strictly livestock and agric product

Riba

18 Sep

ANSWER: This is totally prohibited because it’s riba. You must not invest in a business that only gives you profit and a fixed rate every month. You must be part of both profit and loss as this kind of investment is permissible in islam.

Can i buy my cats pet food with interest money of bank? Is this right or wrong?

Riba

14 Sep

ANSWER: This is not permissible as the interest money is haram and you must dispose this off to poor and needy Muslims in order to cleanse your wealth, without anticipating any reward for it. You cannot benefit from it nor buy gifts for your family and friends with it.

Sheikh I am a fresh graduate doctor and recently want to apply for a job in a government bank as a medical officer.My job doesn’t concern dealing with riba or being a witness to it in sha Allah.My duty would be to provide emergency service to the employees.Will my earning be halal or would Allah punish me?

Jobs, Riba

07 Sep

ANSWER: It is not permissible at all to work in any department of a riba based bank as this is collaborating and assisting in evil and the income would be haram as well.

A person is financially very low.His mother is admitted in hospital and needs immediate surgery for her to survive orelse she will die.But he has no enough money to do the surgery.And also his friends,family support is not that big.The only source he can get money is through bank loan with riba.He has no source except this.What should he do.Should he get the loan and do surgery or let his mom die

Loans, Riba

01 Sep

ANSWER: This is an issue of dispute. I am inclined to the opinion that prohibits this as surviving after the surgery or medication is not certain and riba is a major sin.

It’s really hard these days to finance further education. If parents are short of funds, students are forced to take student loans which they can pay after completing their education. What can one do to avoid interest in such loans?

Halal/Haram Matters, Riba

01 Sep

ANSWER: It is prohibited to take such loans no matter what the reason is.

Considering living in UK it’s almost impossible to pay full payment and buy a house. Prices starts from 300K. In this case can we get mortgage from bank? Other then mortgage there is no way to get own home, whole life we have to live on rent?? What is ruling about it???

Loans, Riba

16 Aug

ANSWER: Living your whole life paying rent is better for you than to do one of the 7 major sins in Islam. Allah curses those who take riba therefore, this is totally prohibited.

I sell my old gold for $600 but I don’t accept the money (the shop hold the cash), then I buy new gold for the price $650. So I sell it first then I buy new one (no reduce price). The different here is I don’t hold the cash but the shop has it. But we count for the selling and buying price. Is this method is riba? And if yes how do I repent? What should I do with the gold?

Halal/Haram Matters, Riba

07 Aug

ANSWER: This is riba and it is not permissible as you must cash the money and take it from them on the spot and not leave it with the shop that bought the gold from you.

More..