Loans

I borrow some amount from my sister now I Have to return that amount but I will not return all money at one time she know this thing and she didn’t have any problems. Can I use my interest money to remove my debt(karz) can my sister take that money

Loans, Riba

24 Feb

ANSWER: No, you cannot repay your debt from the interest money. You must not utilize this haram money for your own benefit. This needs to be given to the poor and needy muslims.

I am planning to buy car on finance monthly installatment but the dealer said they will increase the price in order to make interest free. They might add interest or profit to increase the price but it is not clear. Is it halal if they add interest to increase the price of the car than the cash price as I will pay monthly installatment?

Halal/Haram Matters, Loans

23 Jan

ANSWER: If they fix the price beforehand and sell the car for you for say 120,000 and the actual price of the car is 100,000 and this 120,000 would not change at the end and you pay in monthly installments for say 5 years, this is permissible, providing the dealers own the car beforehand.

How to deal Islamicaly with somebody that owes you money for a long time and dosen`t pay you back or makes excuses.

Loans

15 Sep

You ask him to return the money back and pressurise him unless he is needy!

In reply to the answer u given One of our bank operating as It saying Islamic Bank If we deposite money they give Profit But if we borrow Loan when we pay that again we want to pay more than loan amount what is that an Islamic bank or not?? Can we do transaction with it ??

Loans

07 Sep

Kindly refer to the following link(s): https://m.youtube.com/watch?v=lxjZICIj1cs https://m.youtube.com/watch?v=o2QSZA-QJV8

I want to own/buy a house but I want to acquire it by applying to our government’s housing loan program. Is it permissible? Thank you.

Loans

26 Aug

Any type of loan that has to do with Riba is not permissible at all.

اللّهُمَّ اكْفِنِي بِحَلالِكَ عَنْ حَرَامِكَ وَأَغْنِنِي بِفَضْلِكَ عَمَّنْ سِوَاك Sheikh Hope you are well. Is it true that said dua is better to overcome on debt or loan? if yes how many times after prayer and if not then, what is best dua for it? Thanks

Loans, Supplications

10 Jun

This Duaa is authentic and you can say it as many times per day and night as you wish!

Dear brother,my question is that in 2001 i borrowed 200 pounds from someone but i never return the money even though she was asking her money back.Now,after learning about debt,i want to return the money but i cant find the person as shes from another country,it`s very difficult to find he,what shall i do?

Loans

02 Jun

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!

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