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View By Subject 431 fatwas
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Using bank interest for trade or emergencies
Assalaamu alaykum wa rahmatullaah. I am a Muslim from India, and it is almost impossible to find an Islamic bank in our locality. Therefore, we are forced to keep our money for various reasons (e.g. online money transfer, ATM cards, but not obtaining interest) in non-Islamic banks, which involves dealing with interest. We get some interest on our money.. More
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Taking mortgage to buy house
I have been living in a non-Muslim country and have suffered a lot of abuse due to practicing my religion. My daughter wears the hijab and my wife wears the niqab, and we have been abused almost all the time for following Islam. I have personally been attacked by a group of racist men and was hospitalised for many days as a result. A Muslim should not.. More
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Riba in Fundbox.com loans
Assalaamu alaykom. I just wanted to follow up on question 2623704. FundBox.com basically provides the following service: If I am service provider and have outstanding invoices that I'm still waiting for my client to pay, FundBox can pay me the invoice value temporarily until I recover the due payment from my client. So suppose that my client "A" has.. More
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Helping person settle interest-based loan
Assalaamu alaykum. My wife's parents bought a house with an interest-based loan a few years ago, when they where not praciticing Muslims. They did not know it was haram back then. They became religious later and now want to finish paying for the house so that they can live rent free. The question is: Can I help them pay for the house so that they can.. More
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Money notes from usurious banks not unlawful
Assalaamu alaykum. I live in Bangladesh. There are many Islamic Banks nowadays. Let us assume that all of them are Islamic. Nevertheless, they have to deal with the money notes of the Central Bank of Bangladesh which is a 100% interest-based bank. Some of my friends say that Islamic Banks cannot be halal because the money notes that they use come from.. More
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Living in father's house bought with an interest-based loan
Before asking my question, I just want to tell you that my family consists of five people. My father and mother (who obeys my father), my wife (who wishes to do what is right and, praise be to Allaah, has a higher level of faith), myself, and my son (who is 1.5 years old). We all live together in a rented house with all my earnings going to my father.. More
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Depositing money in interest-based bank
I have a mudaarabah savings account in an Islamic bank, and my father has an interest-free savings account in an interest-based bank. My father gives me a certain amount of money to deposit in my account. After some days, however, he asks me to withdraw the money from my account and also asks me to go and deposit the money in his own account in the.. More
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Paying mortgage from government welfare funds
Assalaamu alaykum. First of all, may Allaah reward you for such a good website. My question is regarding paying interest (riba) based mortgages on funds received from governmental social assistance. I live in Canada and receive welfare assistance due to my disability. The assistance consists of two parts: food and shelter. The government allows the.. More
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Interest given by commercial banks is forbidden riba
This particular query is only regarding the extra money termed as interest given by banks on a savings account. I have heard people say that interest paid on a savings account is also haram. Interest given on loan is haram, but how can interest given by banks on savings be termed as haram? Here, the depositor gives money to banks, banks use that money.. More
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Gradual prohibition of riba (usury) in Madeenah
When the verses forbidding interest were revealed, how did the Prophet, sallallaahu 'alayhi wa sallam,implement the order in the financial system of the State of Medina? What sources are available for reference in this important matter?
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Buying gold or silver coins on internet
Assalaamu alaykum. I have understood from a previous fatwa on the website that buying gold or silver coins has to be done hand to hand, but I need further clarification on the alternative of having a safe with the seller if the transaction is done online. In my country, there are no coin shops, and buying and selling coins is done online. I am really.. More
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Taking part in national savings schemes in return for tax rebate
I am repeating the same question that I have asked before. You instructed me to refer to similar fatwas, but I did not get my answer in full by referring to the fatwas that you asked me to see. So please answer this question for me: In Bangladesh, if one invests money in a national savings scheme, they can enjoy an income tax rebate of 15,000 taka per.. More
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Buying property through interest-based contract
Assalaamu alaykum. Around six years ago, I and my sister invested our money by buying property through an interest-based mortgage in UK. Now, seeing the effects of indulging in interest, we have decided to repent and sell the property due to religious and personal reasons. The property was put for rent. The tenants used to pay us 1200 pounds, and we.. More
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Ruling on 'zero percent financing' car purchases
Assalaamu alaykum wa rahmatullaahi wa barakaatuh. These days, in the UAE, car manufacturers are teaming up with a few banks to bring so called '0 percent' financing. In traditional financing, like murahaba, for example, the car manufacturer gives a discount to the buyer from the original 80,000 to 70,000, which is a 10,000 discount, and the Islamic.. More
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Dealing with interest with intention to repent later
Assalaamu alaykum wa rahmatullaahi wa barakaatuhu. What is the case of someone who plans to deal with interest (this has not yet happened, but it has happened in the extended family multiple times) for the sake of going to university in the hope of graduating after four years and then consider to repent for having dealt with interest? When asked how.. More
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