Riba

A sister has taken a loan from the bank by keeping her gold jewelry as a mortgage. Does she has to pay zakah on this mortgaged gold?

Riba, Zakat

22 Apr

ANSWER: It is prohibited to take interest based loan from a bank. The gold and silver kept with the bank as mortgage is still zakatable.

I have a fixed deposit in the bank which is matuaring in 1 year. Do I have to pay Zakath on it. The profit is shared only at the maturing time I.e. 1 year

Riba, Zakat

29 Mar

ANSWER: If the amount is saved for one lunar year and the amount reaches the nissab then you have to pay the zakat on the full amount. If this is a conventional bank, this is clear riba and it is one of the 7 major sins in islam.

Sheikh, is ….. invest in USA halal? Can I invest money with them. Jazakallah

Riba

09 Mar

ANSWER: I don’t know about their dealings and I can’t judge without knowing! If such a company has a well-known board of sharia scholars governing their investments, this is permissible. If they give fixed profits, this is prohibited. One must be careful when dealing with such companies so that they don’t turn out a Ponzi […]

Long time before I got insurance policy which is due for maturity.I don’t want to use the interest earned as I don’t want to use this for myself now.

Insurance, Riba

07 Mar

ANSWER: Interest money must be given to Muslim charity in order to cleanse your wealth without anticipating any reward for it and not be used for personal gain.

Sir, is kind of empowerment that government gives money to individual to invest in agriculture and later return the money instalmentaly ,to have capital on his own. i think it is wit interest.

Riba

21 Feb

ANSWER: This is clear riba if it has anything to do with interest and it is one of the major sins in Islam and totally prohibited.

Can I use the interest which I get from my bank account to pay taxes?

Riba

12 Feb

ANSWER: No, this is not permissible as you must not benefit from this interest money. You must dispose this off to poor and needy muslims in order to cleanse your wealth from this haram money.

I spent money from My account to pay application fees to a college. Some part of that money was interest money. I did not get admission to that college. Am I obligated to do any kaffara?

Riba

10 Feb

ANSWER: You must not utilize this haram money for your own benefits rather you must dispose it off by giving it to poor and needy muslims to cleanse your wealth. Give the interest amount that you gave for fees or anything else to poor and needy muslims ASAP.

My question is it permissible to work for companies dealing with ATM machine support. Through a voice support.

Jobs, Riba

24 Jan

ANSWER: If these ATMs are of conventional interest based Banks then it is absolutely not permissible to work in any of its departments.

Can I give away the bank interest money to any needy in my family or outside my family or in masjid to feed poor or any social use. Which should be first priority of the above?

Riba

06 Jan

ANSWER: Your first priority must be poor members of your kith and kin.

Can I use international credit card for only emergency in foreign trip?Like for using plan ticket purchase/hotel booking/ medical treatment.And more over many cash In pocket is risky in abroad.Along with this our govt has restriction for limited dollar endorsement.And there have no option for debit card endorsement internationally.usually I don’t use any credit card for locally.

Halal/Haram Matters, Riba

26 Dec

ANSWER: If you pay it in advance like charging it or you pay it immediately before using it or you authorize the bank to clear it from your account before the grace period is over, this seems permissible.

More..