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What is your view about Dubai islamic bank.. Is it really islamic.They have shown a no. of Fatwa to claim the bank to be islamic.

Riba

02 Mar

I don’t have enough knowledge about their dealings but I know they don’t lend people money. They sell them products in installments. Therefore, if they sell you something they already possess without any commitment from you or down payment to buy it and if you buy it and sell it yourself somewhere else, this is […]

Some islamic organizations claim that it is obligatory to give bay’ah (oath of allegiance) to the leader of the organization. Is this correct ? Why or why not ?

Riba

02 Mar

This isn’t correct. The Bai’ah is binding only to the Ameer who is the one that the whole country gives him their allegiance.

My father works in a bank and my mother wants to know if she performs haj with this income will her haj will also not be accepted , she doesn’t have money of her own and is dependent on my fathers savings.

Riba

02 Mar

If your father is working in a interest based bank, his income is haram and also all the benefits he is getting from that bank. As for exchanging his money with other money, this has no value and this is mocking Allah’s religion. As for you mother’s hajj, she can go with this money and […]

I am an auditor, doing audits for the clients of our company. I am worried that my job may involve loan and interest dealings directly, but one of my practising brothers told me that dealings in ‘riba’ in such a way or capacity may not be considered haram

Riba

01 Mar

This brother’s advice is not correct. The Prophet salla Allahu alaihi wa sallam cursed those who deal in riba, the two witnesses and the book keeper. Your job is the book keeper.

According to best of your knowledge, are there any interest free banks or banks known for Islamic banking in Riyadh,K.S.A,? I would speciafically also want to know about ARAB NATIONAL BANK AND AL JAZIRAH BANK?

Riba

01 Mar

Al rajhi, Al Bilad, Al Inma and Al jazeerah are Islamic banks.

I am living in the United States. All of the banks I have access to are based on riba (interest) and are haram. Does keeping my money in this bank make my money haram?

Riba

01 Mar

I am not putting it into a savings account and earning any interest on my money. I am simply keeping it in a checking account without earning any interesting. But having my money mixed up with the bank, is this haram? ……………………………………………………….. As long as there is no other Islamic alternative, you are not sinful […]

I pay income tax to govt as i am a govt employee but i do not know whether it is beaing used on halal or haram things.wht is the ruling of Quran and sunnah in this regard

Riba

01 Mar

As long as this is the rules of the country and you would be prosecuted if you don’t pay, you can pay it.

My mom has a saving account were I have to put my money in, for me to save up. However, recently I found out that it gives interest. I spoke to my mom and she said it’s ok we not gna take the interest but we will give the interest money to the poor

Riba

01 Mar

It is permissible to keep the money in the bank as it is not safe in the house. However, one should open a current account that doesn’t give interest. If this not possible, then one can take the interest and give it to the poor and needy as a form of cleansing one’s wealth.

I would like to know what the ruling on ‘treasure hunting’ is?

Riba

01 Mar

This is permissible but he has to give 20% what he finds to the poor if he is in a non Muslim country.

I have collected some money to donate to poor or good deeds. Until I find a good place, I have deposited that money to bank and there is some interest for that money. Can I use whole money for good deeds?

Riba

01 Mar

You should deposit it in an Islamic bank or in an account that doesn’t give interest. If there isn’t such a thing, you may take this interest and give it in means of charity.

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