Riba

I want to buy a car but on installments, i-e on lease. So does it involve any Riba?There are many Islamic banks that claim that their lease system is without any interest. i heard one mufti say that the extra money you are paying is for car a thing but not on the money, what are your thoughts on it? Like the car is of 10k dollars but on installment i am paying total 12k dollars which is fixed. Your thoughts on it?

Riba

14 Jul

Lease to own is not permissible as there are no guarantees after paying everything except one installment, if the car was burnt by an accident and the insurance paid for a new car, the company will not give you the new car and will tell you that you were leasing and send you away with […]

Can we use interest money in emergency situations like submission of school fees and later after earning can we dispose off the interest money? (We do not have enough halaal money available at the moment but we do have property which can be sold.)

Riba

28 Jun

You don’t need to sell the property as then you would not have a place to live in! As for the interest money, some scholars say that if a person is in real need to the extent that zakat may be given to him, he can use that interest money just for emergencies, and Allah […]

i would like to know that if a person is given interest by his bank what should a person do with this money.

Riba

13 Jun

He can give such money to Charity

In India I struggled harder to open an interest free current account. One brother argued that while your intention is clear not to utilize interest why you are struggling too much. How to give him a convincing reply. Please comment.

Riba

11 Jun

You are doing what Allah ordered you and that is not to deal with RIBA! She a person takes RIBA intentionally and give it to the poor, at the side of Allah, he is dealing in RIBA!

I was born into a Muslim family but I didn’t have much guidance, because my family are more cultural than Islamic. Nonetheless I found islam and I started to look into my deen half way through my degree and I became practising alhamdulillah (and this my family had problems with). But my biggest problem is that I took a loan out to fund my education. Now each day that goes by interest is being added. What do I do? I have checked the terms and conditions of the student loans and it says that if you die the government clears the debt for you. But what do I do? Do I pay it back ASAP?

Riba

14 Apr

You must pay off this loan ASAP and you must not take any other loan.

My husband is going to rent an apartment however in the lease there is usually a riba clause. This is a standard lease in the city. The clause usually states that riba would be charged if payment is delayed beyond a certain date every month. Alhumdulillah my husband pays the rent on time but can we sign this lease? Is it sinful to do so? Please note its the standard lease paper that is used by almost every person who is renting out an apartment.

Riba

14 Apr

This is not permissible to sign it as it is acknowledging the validity of Riba. This clause must be crossed out.

Is the landlord taking heavy deposit for property he rents out permissible in Islam? These are of 3 kinds: 1. Take a huge sum (usually 10+% of the property) & let the person use it for a fixed period. Then return the sum as it is & he returns the property. 2. Same as case one, but charge him nominal rent, for bills, etc. 3. Take a small sum (usually

Riba

25 Sep

Option 1 and 2 are Riba. Option 3 is permissible.

Is the landlord taking heavy deposit for property he rents out permissible in Islam? These are of 3 kinds: 1. Take a huge sum (usually 10+% of the property) & let the person use it for a fixed period. Then return the sum as it is & he returns the property. 2. Same as case one, but charge him nominal rent, for bills, etc. 3. Take a small sum (usually <3%) as a security deposit (for damages or non-payment) & charge a high market rate rent

Riba

25 Sep

Option 1 and 2 are Riba. Option 3 is permissible.

A house is being given on rent for 8000 rupees monthly. The owner is saying that if we give 300000 rupees as security, he will reduce the rent to 3000 rupees monthly. And when we leave the house, he will return the 300000 rupees security. Is this permissible?

Riba

21 Sep

This is riba and it is prohibited.

I attended a marriage function. I was later told that the host dealt with riba. I had lunch at the marriage. Please guide us if we can accept invitation and eat at someone’s place who takes interest.

Riba

19 Aug

No problem if it is not a mixed party.

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