Riba

Honourable sheikh it is said that one who pays, receives and bear witness to payment of interest is equally sinful. My doubt is who all are included in the witness. If I’m an accountant of a company (not a bank) will I be sinful for preparing the accounts of my company.

Jobs, Riba

19 Aug

ANSWER: Yes, you will be sinful and it’s a major sin. https://islamqa.info/en/answers/112175/ruling-on-working-as-an-accountant-in-companies-institutions-and-factories

We have certain stores that allow to convert our credit card based purchases into monthly installments without interest. However, in order to convert, a one-time fee applies. Is this fee permissible? I hear from people that this is interest in disguise so I want your clarification on this.

Riba

21 Jul

ANSWER: This is riba as it is an interest occurring over a loan.

Can i use the interest amount(riba) for donations only in college for higher education i am not talking about fees i am asking only about donations… for eg in medical college the donation starts at 40lakh but we cant afford….so can we use interest amount for donation purpose only??

Halal/Haram Matters, Riba

26 Jun

ANSWER: The question is not clear. A donation is something that people do voluntarily and not obliged to do it! How can you be forced to give donations? You can’t use your own interest money in paying it.

In Islam, riba is prohibited, due to family circumstance one of my close relative have some debits, he took few loans in banks and paying interest. They are living nearby my home, and I frequently visit their place, whenever I go to their house they provide something to eat and drink. Is it haram to eat and drink in their home or I can eat the food.

Halal/Haram Matters, Riba

23 May

ANSWER: No problem in eating there. The sin of such earnings is the one earning it and it is halal for everyone else.

I am PhD scholar at Australian university, At the time of app, I had to show a bank statement having a certain amount of fee and living expenses for atleast one year in my account. I showed through bank and bank asked me to open savings account. Interest is involved in savings account. So it means what I did was wrong? Or student are allowed to go for studies and take loans?

Riba

17 Apr

ANSWER: If you are asking about the interest the bank is adding to your account, if there is no other alternative such as current account without interest, this is permissible but you must not use this interest and must take it and give it to poor and needy muslims to cleanse your wealth. Taking interest […]

I am in a calamity, I had an online business and I was not profitable. Now if my bank account goes into overdraft then I will be engaging in riba and if I use credit card to continue my business then I will engaging in riba. I am looking for a way out which Allah is pleased with.

Loans, Riba

08 Apr

ANSWER: You must not go into riba even if you have to close your business and work as a janitor.

A IslamQA answer says that it is permissible to get rid of any interest money (e.g. from savings bank acc) by giving to maintenance of mosques & purify my wealth. Now I was told that it is not allowed as it is haraam money. Is it allowed to give to mosques? Its not something I want but is forced on me.

Riba

07 Apr

ANSWER: No problem in giving your interest money to masjids, in order to cleanse your wealth of this haram income, without anticipating any reward for it.