Riba

QUESTION: I received ₹327 bank interest and gave away ₹350, so ₹23 extra was already given. Later, another ₹327 interest came. Can that previous extra ₹23 count toward the new interest amount, or must each month’s interest be given separately? Also, can I give the amount from halal cash in hand instead of the same bank account?

Riba

23 May

ANSWER: No, you cannot count the previous extra amount given without intending it. No problem in giving the amount either from cash or from the same bank. What matters is to get rid of that much amount of interest money.

QUESTION: In times when I wasn’t aware and due to lack of knowledge I borrowed UK student finance when I was teenager. However, they charge really high interest. Can I take other low interest based loan to pay that off and then pay that off quickly with less interest? If I cant find Islamic loan.

Halal/Haram Matters, Riba

19 May

ANSWER: No, this is not permissible!

QUESTION: There are few stray cats around my hostel, can we feed them cat food using bank interest money?

Character and Morals, Riba

12 May

ANSWER: No! Give it to poor and needy Muslims, they are more in need!

QUESTION: When 10 Dad collected money under bank scheme where I would receive x amount when 18. Now I’m 18 do I keep the increased sum

Halal/Haram Matters, Riba

09 May

ANSWER: No, you must dispose of the interest money to poor and needy Muslims and keep the capital amount

QUESTION: When I was a kid my mother opened a minor savings account. Now I know that interest is haram. Do I have to give charity even for earlier interest of past 5-6years

Halal/Haram Matters, Riba

04 Apr

ANSWER: If you have that interest from all those years in your account then yes, you must dispose it off to poor and needy Muslims in order to cleanse your wealth of this haram income, without anticipating any reward for it.

QUESTION: Previously,I didn’t knew that we cannot pay bank charges like maintenance fees using the interest money. Now I don’t remember how much of the interest money I used to pay charges or did I even actually use them to pay charges or not as the bank usually cuts off the charges automatically. I only remember that I gave the interest money in charity. What to do now?

Riba

20 Jan

ANSWER: You must estimate an approximate amount and add a little more to be on the safe side and give it to poor and needy Muslims.

QUESTION: I know that a bank isn’t 100% islamic and I have two options. Current account (they deduct some charges), Savings account (they don’t deduct any charges,free debit card and give profit). Can I choose the second one and donate the profits?

Riba

10 Dec

ANSWER: If you have the option for current account, you MUST opt for it instead of savings account because dealing in riba is a major sin for which Allah has waged a war against people who deal with riba. Savings account is permissible for people who don’t have Islamic banks in their city and they […]

QUESTION: I am from India and have some accumulated bank interest, which I understand doesn’t belong to me but to the public. I usually dispose of it through public utilities like roads or wells instead of giving it to individuals. Is it permissible to give this interest money to help the people of Palest*ne?

Riba

14 Nov

ANSWER: Yes, it is permissible and one of the best ways to get rid of such haram money.

QUESTION: If after fixing payment or giving payment me as a customer requests owner for a free refil or extra in case of food stalls and owner gives me, will that extra be considered riba too

Riba

07 Nov

ANSWER: No, this is not riba!

QUESTION: Is it permissible in Islam to invest in a gold scheme where customers can purchase jewellery at either the pre-booked gold rate (against advance payment) or the invoice date rate, whichever is lower? If not, should I withdraw my money or buy the jewellery?

Halal/Haram Matters, Riba

30 Oct

ANSWER: This is absolutely prohibited and you must immediately withdraw your money!

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