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View By Subject 431 fatwas
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Using orbit points on current account in interest-based bank
Assalaamu alaykum. I am using acurrent account just to keep my money safe. I hate getting interest. I want to clarify an issue; my bank has launched a new scheme through which they give every customer some ''orbit points'' on different sort of transactions or money deposits, money deposited, using cards, doing shopping with cards, etc. according to.. More
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Giving loan in return for share in profit is interest
I have spent 60 lac to buy a plot and build my house. Now I have no money to complete my house, so for its completion, I need another 15 lac. I asked my friend for a loan, and hetold me that he will give me the loan on the condition that after selling the house, the profit will be split 50/50, meaning that I should give him half the profit. My question.. More
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Debt not to be settled with money earned from interest
Assalaamu alaykum. Can received interest be utilized to settle a debt? My father passed away and there are some debts left to settle. We received his Employment Providence Fund (EPF) from the government (labour department); the total amount is approximately LKR 950,000. In that, only LKR 266,000 is the contribution; the balance amount is interest. Can.. More
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Using money other person earned from interest
Assalaamu alaykum. I am a practising Muslim who lives in Pakistan. Praise be to Allaah, I have changed a lot after reading the Quran with translation; I have stoped doing those things which could make my Allaah angry and started doing those things which could make Allaah happy; I have started loving Prophet Muhammad, sallallahu 'alayhi wa sallam,more.. More
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Paying bank charges from interest money
Are we allowed to pay our bank charges with interest money? For example, the money that the bank charges for the withdrawal of our own halal money? We do not want interest; we do not want to use it in anyway; we just want to give back their money which they give as interest in the form of bank charges. If we do not pay these charges to the bank from.. More
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Prize won by having account in interest-based bank
Assalaamu alaykum. I have a question about a motorbike that I got from my father. My father opened an account in some conventional bank (which is interest-based), an he got a prize because of that, a motorbike; this was in 2008. Now, prior to 2016, I never realized that using anything from an interest-based bank is haram, and my father did not seem.. More
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Partnership with someone who deals with interest
We are 12 friends who purchased a piece of land, and we all contributed an equal amount of money. We have a plan to develop the land for joint housing, Allaah willing, as the land is about 2880 square feet. There is a chance that some of my friends may use a fund from an interest-based loan, but I and my other friends will use our own savings fund,.. More
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Sin of interest related to person, not to money itself
I have been given a large amount of money by the government in my country due to illness for a couple of months; it is completely halal money, Allaah willing. Now my father gave his bank details for the money to be transfered into his bank account rather than mine. In his bank account, he owes the bank money along with interest, which the bank will.. More
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Tax rebate in this National Saving Scheme interest
In fatwa number 319753 (https://www.islamweb.net/en/fatwa/319753), you did not clearly state whether the 15,000 rebate itself would be interest or not. Please have a look into the question again by entering the link above, and let me know this as soon as possible.
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Exchanging one mobile phone for two
Assalaamu alaykum, dear Shaykh. A scholar was asked about exchanging two mobile phones for one, and he said that there was nothing wrong with that and that it does not constitute interest because these things are not part of that category. However, recently, another scholar was asked about exchanging two bottles of cold drinks for one, and he replied.. More
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Striving to get rid of usurious loan
Assalaamu alaykum, Sir. I have a problem. For the last four years of my engineering course expenses, we have dealt with a bank for an educational loan. I was not completely aware of what Islam says regarding interest. I only knew that it is haram for the one who takes it, but maybe not for the one giving it. We only took a loan of Rs.40,000 forone semester,an.. More
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Ruling on income from business funded by unlawful capital
In Islam, it is haram to take dowry from the father-in-law. A man took dowry and started a business with the money taken as dowry, and he later also took a loan from the bank to grow his business; is his whole income haram now?
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Opening account without interest in interest-based bank out of necessity
Assalaamu alaykum. I have a question which I am very concerned about. In order to study at an Austrian university, I am requiered to open a bank account and deposit a large amount of money in order to get a visa, and my student dormitory also wants me to open a bank account so that they can take the monthly rent from my account. Is this considered a.. More
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Car leasing contract that involves refundable interest
Assalaamu alaykum. I have a question regarding car leasing. I have a business and would want to lease a car, but apparently there is interest in the lease. I live in belgium. The Belgian State gives 100% back on your expenses for your business, also the interest. Is it haram to lease with interest if I get it a 100 % refund?
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Giving loan to person in return for staying in house he owns
Assalaamu alaykum, My relative leased a house in which my mother is staying. The lease amount is 35,000 Rupees . There is no written contract, only a verbal agreement that once they return the above amount, we will vacate the house or pay rent after that if they agree. (They are not ready to give a written contract now.) Already three years have passed.. More
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