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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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.

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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.

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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.

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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.

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