Riba

Sheikh, in the bank, they have a current account which is interest-free. but they are saying that I have to maintain a certain amount as a minimum balance in order to have such account. People are saying that i am contributing to riba because they will use that amount for riba.Am i still sinful for holding a current account which is interest free but have to maintain min balance

Riba

22 Dec

ANSWER: This is permissible if there are no Islamic banks around and there is no normal current account without interest.

There is a business investment we do here in Nigeria, you give the company money and they will be giving you a fixed amount monthly or yearly depending on what you choose. I asked them about what if there is a loss and they said they have taken it upon themselves to pay you , regardless. What is the ruling on this please.

Halal/Haram Matters, Riba

13 Dec

ANSWER: It is not permissible to invest in such a business where they give a fixed amount, this is clear riba.

Sheikh, my uncle is saying that if we take the interest based loan then government will provide some subsidies which will compensate the interest amount and it will not be haram as government subsidy will be enough for paying interest amount, which I feel is haram.. So guide me regarding this in the light of quran and sunnah.

Loans, Riba

13 Nov

ANSWER: Taking interest based loans is absolutely prohibited in islam and a major sin.

Living in lease house is permissible or not? Lease house means paying 5 lakhs for 5 years and the owner of the house will return back the amount. And what if we pay him least rent according to market value?

Halal/Haram Matters, Riba

08 Nov

ANSWER: This is absolutely not permissible as the part where you’re staying in this house is riba on the amount that you gave to the owner, which he would return eventually.

Can one give their bank savings money’s interest to masjid building funds or any Islamic institutions.. or wat is allowed to do with interest money.

Riba, Rulings on mosques

21 Oct

ANSWER: This is permissible. https://islamqa.info/en/75410

….. service jeddah provides 3 sar instant when u run out of balance and they say pay 4 but 1 sar is called as the “transaction fees” this is also riba right?

Halal/Haram Matters, Riba

18 Oct

ANSWER: No, this is not riba. This is selling you talk time for a higher price.

I had given my friend some money as a loan. When she returned it back, she gave me some money extra ( as a gift expressing gratitude for helping her in times of need). I never, on my own accord, as her to give me extra money. Does this count as taking Interest (Riba)?

Loans, Riba

11 Oct

ANSWER: If this extra money was never hinted or talked about when taking the loan and she just gave it as a gift then no problem in accepting it.

is the agreement islamically valid if I pay a heavy deposit and don’t pay the monthly rent with mutual understanding and take possession of a house?

Halal/Haram Matters, Riba

09 Oct

ANSWER: This is clear riba.

Sheikh! Working in a non Islamic country and you are the boss in a government organisation and your subordinates(christians) are going in for riba based loan and the bank needs you the boss endorsement of their loan forms, how do you the boss handle such a case, now that it is against your religion.

Halal/Haram Matters, Jobs, Riba

28 Sep

ANSWER: You must not sign such passers that would facilitate them to take riba loans.

Is it halal to work in an insurance company?

Jobs, Riba

27 Sep

ANSWER: This is not permissible as it involves facilitating in two major sins: Gambling and Riba.

More..