Riba

QUESTION: Sheikh, I have received a very small amount of money(less than a dollar)in one of my bank accounts as interest. To purify it, should I withdraw the money from that exact bank or I could do it using the money which I am holding in my pocket?

Riba

02 Sep

ANSWER: You can give it from anywhere, it doesn’t have to be from the same bank as the interest money is PHYSICALLY not najis

QUESTION: My dad invested 4.5 lakh in my name when I was small, in a scheme to double it. After 10 yrs it doubled to 9 lkh. Again, when I was still a minor, he doubled it to 18 lkh. Now as I’m above 18 yrs, he told me to sign the docs to redouble 18 lkh. I knew it’s Haram, but I forcibly signed unwillingly. He told me that all that money after doubling i.e 36 lakh, belong to me. Is that money halal for me?

Fiqh of the family, Halal/Haram Matters, Riba

07 Aug

ANSWER: Once you signed it yourself, the interest generated from it from the time you signed is haram money and you must dispose it off to poor and needy Muslims to cleanse your wealth besides repenting to Allah for signing on the haram transaction and never sign again. You can keep the capital invested (18 […]

QUESTION: I invested in a tax saving mutual fund since last two years which has around 30% of their portfolio in interest based banks. As soon as I got to know it’s haram, I stopped it. But what should I do about the already invested amount?

Halal/Haram Matters, Riba

22 Jul

ANSWER: Take the capital that you invested and give away whatever the interest that you get to poor and needy Muslims to cleanse your wealth of haram income without anticipating any reward for it.

QUESTION: If a bank gives me $100 in interest and deducts $20 for tax, I end up with $80 instead of $100. I want to give the interest to needy or poor people. Should I give the $80 or the original $100?

Riba

08 Jul

ANSWER: $80

QUESTION: I just started a job in a company where my task is to recommend my clients which banks offer the least interest and help them with the application form then it is on the client whether he decides to go with the banks or not, my work is just the application and suggestion. Is this job halal?

Jobs, Riba

04 Jul

ANSWER: This is totally prohibited and the income is absolutely haram! Allah ordered us in the Quran to not collaborate or assist eachother in haram & evil

QUESTION: I live in a kufr country and I took a loan with interest, I transferred it to a person who then blocked me, I didn’t even spend it on anything and I regretted having done all that. When I delayed paying the loan they called me and sent me gmails but currently they don’t call me or send me messages. Should I still pay that loan?

Character and Morals, Loans, Riba

06 Jun

ANSWER: Of course you must return it as its a debt and a major sin if you don’t return it. The Prophet salla allahu alaihi wa sallam said that the sins of a martyr are all erased except the debts. You must sincerely repent to Allah while showing deep remorse for this major sin of […]

QUESTION: I have a gold chain at home which was brought with credit card “fraud” money (meaning the it was brought from a credit card and the money was not paid back to the bank). I know that is of no use to us but can I sell it and give the money to a needy relative?

Riba

22 May

ANSWER: This is not permissible as the people you stole the chain from did not receive their money and they are still waiting for it.

QUESTION: Sheikh, is it allowed to disburse interest money from savings account to a relative (Zakaat eligible) who are already in economic hardship and lost jobs?

Charity, Riba, Zakat

28 Apr

ANSWER: This is permissible providing they are not your parents, children or spouses.

QUESTION: Can we give zakat to pay someone’s bank loan? This sister’s husband took loan with interest but he died now his wife has to pay. The bank has forgiven the interest rate but not the principal amount.

Loans, Riba, Zakat

17 Mar

ANSWER: If the loan is on the sister and she is forced to pay it off, this is permissible but it is not permissible to pay off an interest loan from zakat especially if it was on someone who is dead.

QUESTION: My father uses credit card and he has many EMI going on as well on it, he wants me help him pay the monthly bill (with his money). Am I sinful if I help him?

Fiqh of the family, Riba

21 Feb

ANSWER: Yes, you will be sinful if there is riba (interest) involved.

More..