Riba

One of my friend is asking me to invest 5 lac in his currency exchange and he will pay me 7-8 thousand during peak business months and 5-6 thousand during normal business months, whenever required I can take back my amount. Please advise is it permissible?

Jobs, Riba

25 Sep

ANSWER:If your investment is not susceptible to loss, which means that the capital is guaranteed, this is riba. If the percentage of profit is fixed, this is riba.

Is a warranty halal? if you have a cell phone you have 2 years warranty and the phone is broken then you can get a new cell phone for free. Is this allowed that i take a new cell phone for free?

Halal/Haram Matters, Riba

16 Sep

ANSWER: Normal warranty that the company offers in their regular, normal price is halal. The prohibition is in taking extended warranty, by paying extra.

If nobody help us then take loan bank it is permissible or not no relative nobody helping us we take loan or not

Loans, Riba

30 Aug

ANSWER: You must not take conventional riba based loan under any circumstances.

Hope you are doing well! I have a very old savings bank account since ….., how to calculate the interest amount so that I can give the interest amount to the needy people. As it’s hard to find interest amount since beginning and I never had a chance to give to anyone. Please advise. Your response is highly appreciable.

Riba

30 Jul

ANSWER: You’re sinful for not Disposing off the haram money as soon as it’s credited in your account. It’s not at all a problem to know the interest you have. Check your bank statements from the beginning and give away all the interest money to poor or needy muslims ASAP, besides repenting to Allah.

Sheikh I happened to use a credit card and i fear paying interest now it’s hard to pay back if there is another credit company to pay back the money for me and they charge me a fee for that service. What is the Islamic ruling on that?

Riba

07 Jul

ANSWER: This is also riba.

How long can a brother work for an Institution that deals with Riba if it’s the only available work for him?

Riba

07 Jul

ANSWER: It is totally prohibited to work in any institute that deals with riba, regardless of the circumstances.

Sheikh! My uncle’s company won a business deal. But the company is lacking finances. So he asked his family members and friends to lend him money and help him. And in return he would share a percentage of profit with them along with the money lent. Can I lend him money and take extra money? Is this riba? If not, Under what conditions is this allowed?

Riba

06 Jul

ANSWER: This is clear riba. A loan must not be with profit or interest. You can ask him to give you a share in the business where you will share with him the profits and losses as well.

Can v take loan from a bank or use credit card to repay the fine, which keeps on adding due to late fees with the intention of repaying the loan as early as possible?

Riba

06 Jul

ANSWER: This is prohibited as it is riba.

Sheikh,I work in a bank.I know it’s haram ,I have tried to convince my father islamically abt it,he says not to quit until I get a better job, despite repeated requests he doesn’t listen,I don’t want to upset him affecting his health, if I quit the atmosphere of home will be disrupted, guide me. And can I get married while doing this job or should I wait till I get a halal job,I am 29 yrs old.

Jobs, Riba

16 Jun

ANSWER: You must look for another job ASAP as the job and the salary of a conventional bank that deals in riba is haram. There’s no obedience to the created at the cost of disobedience to the Creator. You are a big man and must make your own decisions. Resign and continue to look hard […]

Credit card from Islamic bank with grace period facility but charging withdrawal fee even if it’s principal amount/own money. Whats it’s ruling & will it be different if withdrawal fee is fixed & not percentage. This bank is charging fixed only. Reason to opt for credit card is because for checking a/c Islamic banks including this need fixed minimum balance, credit card can have zero balance.

Riba

07 May

ANSWER: The withdrawal fee is an interest over a loan you will take from them and this is riba.

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