Riba

I am the only bread earner in my family. I have worked for many years and saved some small amount in bank.things have really got expensive and my three children are also growing big. I wanted to purchase a house whereby the bank is giving me a loan which I need to clear it within five years. The bank is giving loan and will also charge me interest. Is it OK for me to go ahead with the loan?

Riba

27 Apr

No, taking a loan form a bank is totally prohibited, it is clear riba.

I have heard that taking loan( interest based) for purposes of securing your future e.g. Buying a house or studying a higher degree is not haram ? Is this true ?

Riba

18 Apr

This is not true and it is baseless.

can v maintain bank saving r any other account… if s how to treat intrest charge r given by bank. If it is not permissible to maintain bank account what is the way to invest money in halal way..

Riba

05 Apr

If there is no other bank that doesn’t give interest, you may deposit your money there but you must take the interest and give it to Muslim charity or to the poor to cleanse your wealth.

Sheikh my mom lent some money to a local businessman.In return, The businessman promised to give 200$ each month as a portion from profit.Now, is it interest(riba)? P.s He said he would back whole money anytime mom gave and those 200$ won’t reduce the main amount.

Riba

02 Apr

This is clear riba.

sir my friend is asking money for this company project. he want to give 10 percen for my total amount i will invest.this is correct ?. or what i need to tell him. please clarify.

Riba

29 Mar

Giving profit from the capital invested is riba. The percentage agreed upon should be from the profit and not from the capital.

We have a business in fruit & veg sector and my dad take control of whole the business and the business deals with interest and it owes a lot money to people that we buy our stock from. Im currently working for my dad and but the business is under my name and i don`t have any control of the business and i cannot bring the business in a halal path and to pay our debts faster or to increase.

Jobs, Riba

22 Mar

You must diplomatically bring this issue your father’s attention and telling him that this cannot go on while it is still in your name because you don’t want take the burden of such a major sin.

is it permissible to use someone whose income is mostly haram as a co-signer for a loan? Please note that this is a situation in which there may not be any other choice.

Riba

19 Mar

The question is not clear. Taking a loan in riba is prohibited regardless of the signer and co-signer.

My friend’s mom was byforced by his uncle (Mothers elder br.) to sign his doc to get a Van on leasing facility… His mom didn’t really sign to get any profit…His mom was byforced to sign..She signed because she cannot break the blood relation..That’s all.. Now that uncle ,he is paying monthly..There r few months left to pay fully..

Riba

19 Mar

She is sinful.

sheikh.in bangladesh they have mobile banking.like i can send money of 10000 tk to another person via mobile through an account but that person can pick 50taka less than the amount i sent and this amount varies with the amount ex: 5 taka for 1000 taka.so the cut amount goes to bank.is that riba?

Riba

15 Mar

No, it is not as they are not lending you anything. This is their service charge.

From the banks to our saving account we are getting interest commercial banking , Can we take the money & give to non-Muslim or is it permissible to give to Muslims. If we are saying don’t give interest to our account the bank person may utilize.kindly provide your suggestion. I know it’s is prohibited for us I need a solution how to purify the money

Riba

13 Mar

You must give the interest to Muslim charity in order to cleanse your wealth.

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