Loans

You were sinful for not returning it on time.Try to find her again. If you absolutely can’t, give this money in Muslim charity in her name. On the day of judgement, you will find out whether this was sufficient or she will take from your good deeds until she has enough.

Qatar Islamic Bank wil give car loan.They will buy the car directly from shop and will resale it with slightly fluctuated rate from the show room price.They call this in Arabic as”Murabaha”. Is this allowed?

Loans

12 May

If they possess the car before you signing any documents committing you to buy from them, this is permissible. Otherwise, they would be selling you something they don’t possess.

In a very extreme situation can one take bank loan? For example in Gambia we have only one islamic bank as their name implies. The situation is i am a student in another country while my wife leaves in my country. We both definitely need each other. We both tried all means to get money for my air fee but impossible.No where to borrow. Can she take lone from this bank?

Loans

07 May

If it is a conventional bank, this is prohibited. If it is an Islamic bank, they don’t give loans but rather sell you a commodity and you sell it somewhere else. I would suggest that you don’t borrow from them and be patient until you save enough money.

If we give an amount to borrow to a relative, if they return the amount after 1,5 years, do they have to return the amount we gave them or the value of the exchange rate available on that day? Because the currency value changes.

Loans

09 Apr

Whatever currency you had lent them, they must return it. If you gave it to them in dollars, they must return it dollars, regardless of their own currency!

If in the past there is someone who owes mny to many ppl that they knew and now those ppl have moved on and the person has lost contact with them. How can the person pay the money owed so they are not in debt and not held accountable for the debt in the hereafter also if there is any doubt in mny owed how can that be cleared in life matters

Loans

30 Mar

You have to try to find the owner of that money or his family members and return the money. If this is absolutely not possible, give that amount to Muslim charity on their behalf.

I just got into Oxford University. The course is also online (the little parts to be done in Oxford, I’ll go with my brother in sha Allah as his main office is there in Oxfordshire and he’s ready for that). The fees is too high. I was wondering if it’s ok for me to try to get funds from online sources that fund tuition fees?

Loans

13 Mar

Begging others is prohibited and so is taking interest loans.

My main question sheikh if I owe someone money but cannot find them what do I do with the money? And if I genuinely forgot to pay off my debt to someone and die will I not be permitted into to Jannah?

Loans

07 Dec

1- Give it in charity but only after you tried all the possibilities to reach that person. 2- Allah will not hold you accountable if you forgot.

If you lend a loan to another Muslim, and then they wish to repay you but you know their income is haram (I.e. Selling haram goods), is it permissible to accept the repayment of that loan?

Loans

11 Oct

Yes, as the means of earning is on his own account.

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