Riba

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

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 […]

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

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.

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

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.

This is halal as long as the transaction is done simultaneously. This is done by giving and taking in the same meeting and physically exchanging the money.

This is an issue of dispute among scholars. The majority of scholars say that it is only to be taken from the Jews and Christians. Some scholars say that it is up to the Muslim ruler to decide.

Tadawul is buying and selling stocks and this depends on the activity of the companies, their financing and the money bought with it. As for loans from banks, it is not permissible to borrow through conventional banks as these loans are interest based.

Share | I found that taking a loan by tawarruq has been permitted by respectful scholars in this field of finance. But I read on your website that the conditions of tawarruq that were stipulated by the bank from the beginning made it haram. I am confused. What I understood after reading on your website […]