ANSWER: It is totally prohibited to invest in such kind of company that gives you riba. You must sincerely repent to Allah as this is one of the major sins in islam and never fall into this sin ever again. Keep your capital and dispose off the riba to poor and needy Muslims in order […]
Read moreANSWER: The haram money is only haram for the person earning it and not for anyone else. However, you should advice him about it’s prohibition but if he doesn’t listen, the sin is on him alone and you and your children can use that money.
Read moreANSWER: If there are no Islamic banks in your city and if the conventional banks do not have the option of current account, in this case you can open a savings account. However the interest money is haram and you must dispose this off to poor and needy Muslims in order to cleanse your wealth, […]
Read moreANSWER: No, this is not permissible as interest money must be disposed off to poor and needy Muslims in order to cleanse your wealth and you CANNOT utilize it for your personal benefits.
Read moreANSWER: It is totally prohibited to work in this project as it involves riba which is a major sin and your income would be haram as well as you are the one processing and facilitating this riba based process.
Read moreANSWER: You can give it anyone who is classified as poor or needy Muslim. INTEREST MONEY:You must dispose off this interest money to poor and needy Muslims in order to cleanse your wealth of this haram income, without expecting any reward for it.
Read moreANSWER: It is prohibited to take interest based loan from a bank. The gold and silver kept with the bank as mortgage is still zakatable.
Read moreANSWER: If the amount is saved for one lunar year and the amount reaches the nissab then you have to pay the zakat on the full amount. If this is a conventional bank, this is clear riba and it is one of the 7 major sins in islam.
Read moreANSWER: I don’t know about their dealings and I can’t judge without knowing! If such a company has a well-known board of sharia scholars governing their investments, this is permissible. If they give fixed profits, this is prohibited. One must be careful when dealing with such companies so that they don’t turn out a Ponzi […]
Read moreANSWER: Interest money must be given to Muslim charity in order to cleanse your wealth without anticipating any reward for it and not be used for personal gain.
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