Riba

Sheikh I happened to use a credit card and i fear paying interest now it’s hard to pay back if there is another credit company to pay back the money for me and they charge me a fee for that service. What is the Islamic ruling on that?

Riba

07 Jul

ANSWER: This is also riba.

How long can a brother work for an Institution that deals with Riba if it’s the only available work for him?

Riba

07 Jul

ANSWER: It is totally prohibited to work in any institute that deals with riba, regardless of the circumstances.

Sheikh! My uncle’s company won a business deal. But the company is lacking finances. So he asked his family members and friends to lend him money and help him. And in return he would share a percentage of profit with them along with the money lent. Can I lend him money and take extra money? Is this riba? If not, Under what conditions is this allowed?

Riba

06 Jul

ANSWER: This is clear riba. A loan must not be with profit or interest. You can ask him to give you a share in the business where you will share with him the profits and losses as well.

Can v take loan from a bank or use credit card to repay the fine, which keeps on adding due to late fees with the intention of repaying the loan as early as possible?

Riba

06 Jul

ANSWER: This is prohibited as it is riba.

Sheikh,I work in a bank.I know it’s haram ,I have tried to convince my father islamically abt it,he says not to quit until I get a better job, despite repeated requests he doesn’t listen,I don’t want to upset him affecting his health, if I quit the atmosphere of home will be disrupted, guide me. And can I get married while doing this job or should I wait till I get a halal job,I am 29 yrs old.

Jobs, Riba

16 Jun

ANSWER: You must look for another job ASAP as the job and the salary of a conventional bank that deals in riba is haram. There’s no obedience to the created at the cost of disobedience to the Creator. You are a big man and must make your own decisions. Resign and continue to look hard […]

Credit card from Islamic bank with grace period facility but charging withdrawal fee even if it’s principal amount/own money. Whats it’s ruling & will it be different if withdrawal fee is fixed & not percentage. This bank is charging fixed only. Reason to opt for credit card is because for checking a/c Islamic banks including this need fixed minimum balance, credit card can have zero balance.

Riba

07 May

ANSWER: The withdrawal fee is an interest over a loan you will take from them and this is riba.

If i keep money in saving account in Canada i won’t have to pay tax to the goverment, but if i keep in current account then every year there is a annual tax on the amount. If i take the interest from saving account and donate it without using any of the interest for myself, is there any sin on that? what’s your advice?

Riba

29 Apr

ANSWER: Yes, you are sinful in case you have the option not to get riba but you choose to get it.

Sheikh i had an savings acc since riba is haram I decided to close my acc. I took only the money which I deposited and left the interest money in it.If we dont use the bank account for certain period it gets inactive. Its been more than 2 or 3 years allahu alam. I havent closed it legally should i do it or let it be.Anyways i dont use it anymore? Forsure Acc would hv been inactive

Riba

22 Apr

ANSWER: You should not have left the interest money in your account, you must take it and give it to poor or needy muslims.

I told one person that if u have accumulated riba then give this money like into a fine for example if u got a parking ticket then can a person pay riba money towards that ticket? Did i advise him wrong he knows riba is wrong but i thought is that way fine to get rid of riba money? If im wrong what shud i tell him now?

Riba

20 Apr

ANSWER: You were totally wrong in advising him without knowledge! The interest money must be given away to Poor or needy Muslims, in order to cleanse your wealth from haram money, not to benefit from it! You must tell him you said that out of ignorance.

Can a lady who is poor and husband bedridden and her daughter getting married the Sunnah way,can one give her interest money to help in her marriage whatever little expenses she may need as One has been given a lot of interest money to distribute to poor of a person who died?does not have pure money.Please reply.

Riba

12 Apr

ANSWER: Interest money must be given to Muslim charity in order to cleanse ones wealth without anticipating any reward from it. If they are classified as poor or needy, this is permissible.

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