Loans

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 […]

QUESTION: My husband took a loan through a bank and invested it with a property dealer (bought plots to sell later). Loan instalment is paid monthly and it’s a four years long procedure. Now it’s been more than a year that we have invested that money. Do we have to pay zakat on that investment and if yes then how to do the calculation as we are still paying the instalments?

Loans, Riba, Zakat

01 Oct

ANSWER: If this property is bought with purpose of selling it after developing it, you must estimate the current value and give zakat on it. But if it was bought to rent it out or to live in it and not to sell it, there is no zakat on it. If the loan is interest […]

Just after marriage I lent my husband a big amount of money which he said he would pay back in 2 years but has paid nearly nothing of it back and it has been almost 3 years now. Sometimes I feel really upset at his quiet way of expecting me to be kind (never mentioned that he would not be able to keep his side of the deal nor that he feels bad about it, just silent). What can I do

Fiqh of Marriage, Loans

15 Jun

ANSWER: If he is unable to pay you back, you must be patient and wait till his conditions are better. But if he is able to pay you back, it is your right to demand your money back from him.

My husband took a loan 5 years back and he is still trying to pay it. the interest rate in his monthly installments is 70% e.g he pays $2000 monthly out of which $1500 is interest. My question is can i take a loan with 20% interest rate to pay my husband’s loan which has a 70% interest rate? This way his interest would be lower and repayments would be quicker.

Halal/Haram Matters, Loans, Riba

18 Apr

ANSWER: This is totally prohibited! Two wrongs don’t make a right!

My father is old & has bk loan,I always say NO when he ask for help related to bank.The loan is so high that it’s repayment is not possible,Only solution is to pay riba for life time to avoid bank attachment.After his period, I will be liable to pay the loan.What should I do Sheik?How should I help him?I warned him and have not helped him in taking loan,I feel so sad for not helping him

Loans

22 Oct

ANSWER: You must not help him repay that loan unless you are 100% certain that he is remorseful and regretful and would never do that again.

One of our relatives bought a cow for sacrifice on eid ul.azha from my uncle last year but has not paid yet. My uncle can’t ask for money because he is a close relative of ours. My question is the sacrifice will be accepted without paying someone’s money?

Halal/Haram Matters, Loans, Slaughtering

03 Jul

ANSWER: It is accepted but he is in debt which he must clear as Allah forgives the sins of a martyr except his debts!

If a person studied a course by taking a loan with ribaa and if he gets a job will the job and the income is haram?

Halal/Haram Matters, Jobs, Loans, Riba

01 Jun

ANSWER: He is definitely sinful for this Riba based loan which is a major sin but his job and income is permissible if the company and his job description is halal.

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