In India,People make Lease Contract. Property Owner Takes Money and Handover the Property to Payee for Definite period of contract,the Payee will give Freedom to selfuse or rent the property and can take all benefits.on the end of contract Property Owner Repays all the Money to payee and takes control of property.This type of contracts made for Commercial ,farm lands & resisdential bldgs.is it riba

Riba
20 Dec

ANSWER: Yes, it is riba. 

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In India jewelry showrooms have investment schemes, where one pays a fixed monthly amount to the store & since gold rate fluctuates every day, the day we make the payment, that day’s rate is recorded and after 12 months the average rate is calculated of the gold per gram and the we can purchase the gold for the entire value we have invested, at the average rate.Is this a halal?

Riba
15 Dec

ANSWER: This is clear riba and it is prohibited. 

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If a father takes a huge loan in the name of a son against his will (because the son knows riba is haram) from the bank for business purposes and the son does not want profit from the business because he does not want it as he wants to avoid any form of riba. In this case, does the son fall in any sin of taking riba?

Riba
12 Dec

ANSWER: If he has signed the contract, he’s sinful. 

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There is key chain in my home given by a bank. Can we use it?

Riba
22 Nov

If it’s a conventional bank that deals in riba and if it’s brand name is displayed on the key chain then you shouldn’t use it as it would be like endorsing the bank.

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I was planning to invest in some shares in US based companies dealing in lethium manufacturing and supply.however some of these companies borrow funds from banks. Does this impact my investment ?

Riba
13 Nov

If they finance their projects through riba loans, this is prohibited! Some scholars said that if their investment and financing is less than one third of the companies financing, this is permissible, however I don’t know of any evidence to back it up!

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Is it permissible to do job in a bank in India as there is no Islamic banking?

Riba
13 Nov

It’s not permissible at all to work in a conventional bank that deals with riba

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A friend of mine has invested on my business. I give him profit percentage on cost of sales. So every month he recieves a profit even though I make a loss in the business. The profit amount chnages but no loss incurred. I make a gross profit but after expences I make loss on certain months but he still gets a profit .is t allowed?

Riba
07 Nov

This is riba! The percentage should be on the profit and not on the sales.

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To safeguard from cyber crime theft,can i put my money in fix depost. I will not use interest amount but give it to poor and needy without expecting any ajar.

Riba
26 Oct

If you do not have the option of Islamic bank and this bank doesn’t have a current account without riba, then you may.

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Can we use interest received money from saving bank account to pay income taxes to government?

Riba
16 Oct

This interest money is haram money and you must cleanse your wealth by getting rid of it in Muslim charity and not by using it for your own benefit!

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Now I am living in a rented house,I pay monthly rent to the owner.From next month onwards I and owner agreed that I pay him a sum of money (INR 10 lakh Rupees)&I can live in that house without monthly rent for 36 months.When our contract ends he will return me the money (full amount). So at the end there is no loss of single penny from my pocket.there is no interest involved.Is such a deal halal ?

Riba
13 Oct

This is totally prohibited. There’s interest involved in you using his house for free in return to the loan you had given him. This is clear riba.

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