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Riba

Riba

To safeguard from cyber crime theft,can i put my money in fix depost. I will not use interest amount but give it to poor and needy without expecting any ajar.

26 Oct

If you do not have the option of Islamic bank and this bank doesn’t have a current account without riba, then you may.

Can we use interest received money from saving bank account to pay income taxes to government?

16 Oct

This interest money is haram money and you must cleanse your wealth by getting rid of it in Muslim charity and not by using it for your own benefit!

Now I am living in a rented house,I pay monthly rent to the owner.From next month onwards I and owner agreed that I pay him a sum of money (INR 10 lakh Rupees)&I can live in that house without monthly rent for 36 months.When our contract ends he will return me the money (full amount). So at the end there is no loss of single penny from my pocket.there is no interest involved.Is such a deal halal ?

13 Oct

This is totally prohibited. There’s interest involved in you using his house for free in return to the loan you had given him. This is clear riba.

Thank you for your reply. So is the Ijara mortgage offered by HSBC or Al Rayan bank in the UK acceptable. I am not sure if they are implemented correctly.

07 Oct

I do not know if those banks implement it correctly! You must find that out yourself. If the client and bank go into a transaction, there must be a number of things made clear so that it wouldn’t be a trick towards avoiding RIBA. The client has two hats; an owner and a tenant. Therefore, […]

My friend he wan’t to buy a car for his business. If he want’s to take the car instant payment it will cost $5000. But if he wan’t to pay per month it will cost $6000 in 3 years. And with-in 3 years if he can’t complete the payment the bank will take the car. Is it riba.

24 Sep

This is a clear riba.

There is an Islamic bank in my country offering an option to own a home which they call Musharaka. u pay 10% deposit. n then u buy the 90% from them over 20 years at 11%. is this permissible?

23 Aug

If the client and the bank go into such a transaction, there must be a number of things made clear so that it wouldn’t be a trick towards avoiding RIBA. The client has two hats; an owner and a tenant. Therefore, after buying the property and it is registered in both their names, the contract […]

What is to be done with the interest money you receive?

21 Aug

You must get rid of it by giving it to Muslim charity in order to cleanse your wealth.

I teach tution to a student.his father works in a bank. The fee which i takes from student teaching is halal or haram.

02 Aug

It is halal as the sin is on him!

My father is a retired man. He has some money which he invested in saving certificates, there is a government organization in Pakistan which takes money from senior citizen invest it somewhere and give their investors a fixed amount of money. Is it usury?

26 Jul

It is riba, as the amount is fixed, so it is haram.

Being a public servant as teacher, I want to clarify about buying a salary. here in our community, there was my friend he buys a salary of our co-techeater. example, this month of July, a friend of mine asked to buy the salary of our coteacher with a percentage.the question, Is it part of Ribah???

04 Jul

Of course! He is exchanging money for money providing he gives it earlier