Loans

In India to buy a expensive car we have to apply for a loan so that we don’t get problem related to income tax as due to high tax people don’t pay fully income tax is it haram as we people have to do it purposely.

Loans

10 Feb

ANSWER: It is not permissible to take interest based loan at all as it’s a major sin.

My father recently took a loan from my grandfather so that a business can be opened with it and now I’m the one in charge of the business and according to my father I am the one expected to pay back the money and my father said that he took the money for me and not for himself now my question is once I payback my grandfather does that make me the rightful owner of

Loans

03 Feb

ANSWER: If your father got the loan for you to run the business and expects you to pay it back, then it seems you are the owner of it. Before you proceed on from here, make this on paper and have your father sign it so that your siblings won’t come and demand their right […]

Sheikh, my uncle is saying that if we take the interest based loan then government will provide some subsidies which will compensate the interest amount and it will not be haram as government subsidy will be enough for paying interest amount, which I feel is haram.. So guide me regarding this in the light of quran and sunnah.

Loans, Riba

13 Nov

ANSWER: Taking interest based loans is absolutely prohibited in islam and a major sin.

My brother took bank loan, riba based, to buy a house. Can I pay my zakat to him to pay that debt. I don’t know whether he pays zakat, and I don’t want to tell him this is my zakat money.

Loans, Zakat

01 Nov

ANSWER: You must not use zakat to pay off riba based loans.

I want to know whether taking loan for studies is permissible ? It’s loan from student finance UK. Once i leave uni and start earning more than 21000 I must start repaying the loan along with interest. There are instances in which the loan is writenoff such as if one dies, becomes disabled,reaches a certain age. I have been told it’s some sort of investment permissible in Islam

Halal/Haram Matters, Loans

21 Oct

ANSWER: This is prohibited.

Sheikh, if i m asking my brother for some money (with the mindset of returning him back) , so, it means I will fall in the category of those people who doesn’t put their trust in Allah (SWT)?

Loans

15 Oct

ANSWER: No. Our Prophet salla Allahu alaihi wa sallam used to borrow as well.

I had given my friend some money as a loan. When she returned it back, she gave me some money extra ( as a gift expressing gratitude for helping her in times of need). I never, on my own accord, as her to give me extra money. Does this count as taking Interest (Riba)?

Loans, Riba

11 Oct

ANSWER: If this extra money was never hinted or talked about when taking the loan and she just gave it as a gift then no problem in accepting it.

My husband is going to start a business in ……. by taking loan from a bank involving interest. I have …. kids with my husband and we currently live in …… Shall I continue my marriage with him despite of his haram income? If I divorce from him shall I take my kids along with me? Plz guide me on this issue.

Halal/Haram Matters, Loans

29 Sep

ANSWER: If you have advised him, you have done your duty. His income is haram for him alone and halal for you as the sin is on him alone.

If nobody help us then take loan bank it is permissible or not no relative nobody helping us we take loan or not

Loans, Riba

30 Aug

ANSWER: You must not take conventional riba based loan under any circumstances.

My question is I live in India …i ve purchased a property for house.. I ve paid half of the money to lender.. Now I don’t have enough money to pay rest of the amount.. N if I did not pay the amount I ll lose all the money I ve paid… So can I take a bank loan on this property.. Is it permissible in Islam?

Loans

04 May

ANSWER: It is not permissible to take interest based loan at all, it is totally prohibited. You shouldn’t have gotten into such a prohibited transaction in the first place without measuring the consequences! Try to take a halal loan from family or friends.

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