If a muslim keeps huge amount of money in fixed deposit and gets big amount of interest money what should he do with it? Or he should break his fixed deposit and put all money in savings as less interest and easy to give to poor. what is right?

Riba
23 Jun

Any money earned through interest must be given in charity. He should move his money to an account where no interest is earned.

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I live in a counsel house and the tenancy is on my father’s name, we have been living in the house for a while and if we buy will get a discount around 70 to 75% there are 2 options to buy, 1. Through paying the full money at once( which we do not have), 2. To mortgage the house which will include riba and which we will be able to afford. Can you please explain in detail.

Riba
18 Jun

It is not permissible to go for mortgage. Try to borrow from friends and relatives or continue to pay rent.

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My father is buying a property and he has already paid 85 percent of the money. Now due to financial difficulties he is not able to pay the rest .so now he wants to borrow about 50000 SR from someone to completely buy the property. Now lender has a condition that he willgive us the money if we give him the monthly rent (we will receive monthly rent from the property)until we pay him the 50000 back

Riba
01 Jun

This is totally prohibited and it is clear riba.

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Sir, can you please clearify me tha i am living in India ( Kashmir) and here is no islamic bank or islamic system where we can safeguard our money. So unfortunately we have to use the non islamic banks,then what about the interest on our deposited money which we earn through this non islamic system

Riba
22 May

Most conventional banks have regular checking accounts where you do not earn interest, with a debit card. If that is not available and there is only a type of savings account where interest is earned on your money, then you must give the interest money to charity to cleanse your wealth.

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Respected Sheikh Assim Al Hakem, Alhamdulillah every Friday I come to listen your Friday sermon, yesterday’s sermon was heart touching to me regarding RIBA’A, being a citizen of India we receive interest on our deposits every quarterly where I transfer this amount to my sister to give it to a needy. I would like to is this right way to do, if not please guide us.

Riba
21 May

This is ok as you don’t have any other alternative.

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is it permitted to do an agreement with bank to invest your money , for every three months they will increase your money, because they are doing business with it.

Riba
18 May

Setting up this type of agreement with a conventional riba based bank is not permissible. What you mentioned is clear riba as well.

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Sheikh, Person A wants to take a loan(which is not interest free) but he is submitting the documents of Person B but the person A is going to fill the loan n interest , so on whom will be the sin of paying riba person A or person B?

Riba
12 May

Both

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Are we allowed to eat the food and accept gifts from relatives and friends who works in a interest based bank. As I don’t accept things from them as in Quran it says Riba is Haram. But someone shared a link from Islam QA which saying it is allowed to accept things from them. https://islamqa.info/en/126486

Riba
09 May

You can accept it as the sin is on them!

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Sheikh, is it permissible to take car from bank or showroom on lease especially in Saudi Arabia?

Riba
07 May

I believe that this is not permissible.

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dear seakh. I bought a house in Ireland.I took 100% mortgage from bank, I lieke to get rid of the interest If I give them the house, they will sell it in oction and then will put the rest of the balance on my name. The second option I can do a self bankruptcy. Then all my loans even mortgage will be wiped out. The third option is to pay until the price come to a balance.

Riba
01 May

If the final price is fixed, take the third option as the harm has already been inflicted.

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