Loans

QUESTION: Can we give zakat to pay someone’s bank loan? This sister’s husband took loan with interest but he died now his wife has to pay. The bank has forgiven the interest rate but not the principal amount.

17 Mar

ANSWER: If the loan is on the sister and she is forced to pay it off, this is permissible but it is not permissible to pay off an interest loan from zakat especially if it was on someone who is dead.

QUESTION: I (FEMALE) live in USA and want to pursue higher education in medical field which is quite expensive. And my family is not that well off. Student loans charge 15% interest…and interest is haram. What should I do? If I take a student loan, will everything after that, including my education and job be considered haram?

Jobs, Loans, Riba

06 Feb

ANSWER: This is totally prohibited and one of the major sins in Islam for which Allah has waged a war against someone who deals in riba. It is very simple: If you can’t afford it, don’t do it!

QUESTION: I am a Muslim revert and I took out a student loan before I became muslim. After becoming muslim I became a housewife and had kids. I have not had an income since then as I have always had a small child to care for. My question is, am I obligated to pay this student loan and will the debt keep me out of jannah.

Loans, Riba

21 Jan

ANSWER: As long as you don’t have money to pay it off and their system is that if you are not earning, then you are exempted from paying it off, there is no problem.

QUESTION: I took a loan from bank to complete my studies at that time i signed an agreement that it will be an interest free loan but now at the time of repayment i was informed that i have to pay an interest of $60 on the principle amount as the policy changed. Now i have to pay this interest with the principle amount as well. Can please someone guide me that how i can islamically void this interest?

Loans, Riba

14 Jan

ANSWER: You must challenge it and refuse to pay it as this goes against the initial agreement and had you known that you would not have taken the loan. If you could not fight it legally and was forced to pay it, then you can pay it without any sin on you.

QUESTION: Is taking a Student Scholarship from the government permissible or not?

Loans

06 Jan

ANSWER: If it is interest free and there are no strings attached, this is permissible in Shā Allah if there is no haram involved.

QUESTION: If I give loan and he refuses to give back and I file court case with enough proof. can I also request the court to make the defendant pay my court, lawyer fees and grant me in my favour with costs without additional amount

Loans

13 Dec

ANSWER: If he is poor, you should wait for him and not take him to court. But if he is capable of paying it but he is stalling and refusing, you may take him to court and have him pay all the lawyers expenses that you have encountered because of his refusal.

QUESTION: If a brother who is a millionaire and doesn’t want to pay his own brother’s debt( which is very little ) and instead he wants to build a mosque in his father’s name? As he thinks it is not his duty to pay his brothers debt.. Is this ok?

Fiqh of the family, Loans

27 Nov

ANSWER: That’s his choice. However, stingy people are by nature stingy and this is in their DNA and they won’t be among the successful on the day of Judgment! No Muslim who has his own flesh and blood suffering because of a tiny loan would hesitate to rush to his rescue if he has the […]

QUESTION: I asked my friend to lend me some money few years back. But I dont remember if I actually took money from him or not. My friend does not remember it too. What is to be done in this case?

Loans

09 May

ANSWER: If there is no proof and you genuinely don’t remember having taken that loan then there is nothing on you and Allah is your judge.

QUESTION: My sisters husband is a bank principal officer earning handsome salary from a haram commercial bank. He is going to buy a flat in city by 0% interest rate which will be given him from his bank. The amount will be cut from his monthly salary as installment. Now will it be halal or permissible for my sister and her child’s to live in that flat?

Loans, Riba

27 Feb

ANSWER: His income is haram due to the nature of his job. However, it is haram for him alone and he will be punished for it all. His family can live there and enjoy it as it is halal for them.

QUESTION: What’s the ruling if I give my brother money for his marriage to help him out but he didn’t give it back when I was getting married. I also asked him to give it back because I needed it for my future home. Pls answer my question.

Loans

21 Feb

ANSWER: This depends whether it was a gift or a loan. If it was a gift, it is prohibited to ask for it or to expect it back as this is like a dog that vomits and then eats its vomit again. But if this was a loan and you made it clear to him […]

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