Riba

What is riba in Islam?

01 Mar

Riba is a number of things. among them, taking a loan and paying interest over it.

Ruling on “Business” and other scams

01 Mar

A few months ago there appeared a company called “Business” which does a kind of marketing. Its idea may be summed up as follows: a person buys the company’s products – which consists of programs (software), a web site and e-mail – for 99 dollars, and after buying he is given the opportunity to market […]

I would like to purchase a bus for the purpose of using it for business. Is it allowed to approach a leasing finance company to purchase on my behalf and I pay them an agreed monthly payment for an agreed period of time?

Riba

01 Mar

If the company buys it on your behalf and puts its interest on it, this is not permissible.

My husband is going to rent an apartment however in the lease there is usually a riba clause. This is a standard lease in the city. The clause usually states that riba would be charged if payment is delayed beyond a certain date every month. ..

Riba

01 Mar

…Alhumdulillah my husband pays the rent on time but can we sign this lease? Is it sinful to do so? Please note its the standard lease paper that is used by almost every person who is renting out an apartment. …………………………………………………………………. This is not permissible to sign it as it is acknowledging the validity of […]

Is it permissible to study Chartered Accountancy (CA) and become a professional accountant? Not to mention, the job of a CA is basically to audit the accounts of different organizations.

Riba

01 Mar

Is auditing halal? As being a CA i have to go through checking the accounts of some organizations who may have done some transactions based on interest. The transaction will not be recorded by me. I will be checking whether the transactions have been recorded perfectly or not. Will it be halal? …………………………………………………………………………………… You may […]

There are two banks in our country both are interest based. Bank (A) has a policy to give riba for saving or current account in which interest is a must, and we dont know in which way they invest our money. …

Riba

01 Mar

…Bank (B) is 0% interest for saving and current account and they invest our money in agriculture. Which is best in islamic prospective, bank A or B? ………………………………………………………………………………………. Bank B.