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5
votes
2answers
198 views

Is it halal to loan out money which people save in your bank?

Original idea from here. My question is, is it halal to loan out money which people save in your bank? Let's say we have an online website. People can 'lend' money to the website (no interest), and ...
1
vote
2answers
200 views

Long term loans in Islam

I have a series of questions about islamic loans. My first question is this: If person 1 loans 100k to person 2 and creates a contract which states that the agreed payback date is 25 years from now. ...
6
votes
2answers
7k views

How to calculate zakat while in debt

I recently bought a house and got Shariah loan (Mortgage). The only difference is that in the Shariah loan they don't use the word "interest". They say I am paying them "rent" at a fixed percentage ...
3
votes
1answer
2k views

Is interest-based educational loan allowed?

Students from economically backward communities who opt for higher studies generally depend on educational loans, which are offered with interest, either by banks, developmental organisations, or by ...