Riba

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.

Is it permissible to take credit in a bank that it has 0% interest but it tells the time that you have to pay back for example during 24 months you have to payback all the money, every month you have to pay an amount of money. Is this haram?

Halal/Haram Matters, Islamic economy, Riba

29 Mar

ANSWER: It is also prohibited as you are agreeing to pay riba but after 24 months.

One of my brothers is staying in rented house and the owner of the house owes some money to my brother. so, the owner asked my brother to pay some amount of rent monthly until he repay the borrowed money and after that pay the double of that rent what he is paying now. So, basically they reduce the rent for a period until he repay the amount. I want to confirm that is this kind of interest only??

Riba

24 Mar

ANSWER: This is clear riba as he is giving him less rent in exchange for the loan which is interest over the loan.

Shaikh when we send money through google pay app they give us some rewards in the form of money,will this rewards be interest(RIBA).because i heard one alim saying that your getting money in return of money so it is interest(RIBA)

Riba

16 Mar

ANSWER: If you need to deposit money with them in order to get such cash back, this is riba.

My husband was in a need of money few months back so he use credit card for around 2 lakhs.now he did not have money to pay back has he last few pervious debts. His salary is geting finished in the previous debt. So he want make a settlement with bank by not paying they back for few months a settle it for half of the amount. Please help us solve this.

Riba

07 Mar

ANSWER: First of all it’s not permissible to borrow money via the credit card as it is based on riba. I also presume the his previous debt is also riba based! What help is he looking for if he keeps fighting Allah by indulging in this major sin?

Why is it that working in a non-Islamic bank is prohibited even when one’s job does not at all, in any way whatsoever, involved or help the bank in their practices of riba? How can things like giving/taking people cash or exchaning currency be prohibited?

Jobs, Riba

05 Feb

ANSWER: You are helping them in their work where if no one worked in such a position, their work wouldn’t be complete! By your logic working as a receptionist at a brothel or a bar is perfectly fine!

How is one supposed to survive in this day and age without a bank account?

Riba

31 Jan

ANSWER: You must open an account in an Islamic bank but if there’s no Islamic Bank in your city then you should open a current account that does not give interest but if this is not possible then in this case you can open a savings account due to necessity in the conventional bank which […]

I have received quarterly interest in salary, last time I remember very well I throw interest in the river. Would this money be helpful to someone in need?

Riba

17 Jan

ANSWER: Why would you do something like that?! You should take that interest money and give it to poor and needy Muslims. The interest money is haram and you must dispose this off to poor and needy Muslims in order to cleanse your wealth, without anticipating any reward for it. You cannot benefit from it nor […]

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