Riba means Interest. Riba is Haram (forbidden) in Islam, and it is considered a major sin.

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Indirect help to riba-business

I came across the question Working in banks in an Islamic country. According to my understanding of the answer by Shaykh Muhammad Saalih al-Munajjid, You are doing haram if you are helping someone ...
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1answer
72 views

Is crowd-funding Halal?

Is it Halal to donate money to company (who need money to fund a product/project/etc...) online via crowd-funding sites such as: Kickstarter or IndieGoGo? What if I gave money to a company (who need ...
4
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1answer
101 views

What to do with the Riba (interest) money?

I have some interest money in my account and I recently came to know it is haram. I want to get rid of it. Please tell me the ways to spend it. Can I spend it as wedding or birthday gift to my ...
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1answer
45 views

Interest on the Savings account

Salaam, My question is about the interest the banks pay on the savings accounts that you maintain with them. The banks generally use your money lying in the account and invest it in the market, they ...
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1answer
62 views

whats about insurrance schemes according to islam? is it consider as interest or not?

MCB (Muslim Commercial Bank) Pakistan has started a scheme in which when one will go on hajj via there scheme he/she will be eligible for 4 months of free health (hadsaati) insurance, my question is ...
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2answers
70 views

Difference between Riba and Rent

As stated in the title the question is about the difference between accepting riba and accepting rent. according to my understanding riba is when you give loan of some commodity to a person and during ...
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1answer
42 views

Is working in insurance company allowed if the Sharia Council of that country has approved it to be following Sharia rules?

I have been offered a job from a medical insurance company to work in their head office. In their profile they say that their company's operations are approved by Shariah Review Bureau (this ...
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0answers
41 views

Seeking help/thoughts on career in finance (investment banking, etc.)

Salaams. I am a Muslim undergraduate student in the US who is contemplating career options and thinking about the finance track that a lot of undergrads gravitate towards (positions in investment ...
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2answers
73 views

Zero Interest is causing me more harm than riba, is it the right choice?

I had to purchase a car, but did not wanted with riba, so the only option was to purchase a new car which I has at 0%, BUT monthly I have now to find a large sum of money which is causing me a lot of ...
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2answers
128 views

Why is interest such a bad thing? And is this forbiddance still relevant in the modern age?

I know this has been asked a LOT of times, but mine is slightly different (I believe). First of all, a little background about myself: Not a Muslim, probably somewhere between agnosticism, ...
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1answer
39 views

Rent payments with redemption

Assalamu aleikum. I have a question regarding mortgage. One of our state banks provide a program for young families. You have to open a deposit account and make certain deposit payment every month ...
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1answer
38 views

Can I earn interest from 457 plan?

Since I work for the government company we get 457 plan similar to 401k. Can I earn interest from that and not from the bank? If not what are my other options?
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1answer
376 views

Is it permissible to use cash-back credit cards and accounts?

My concern and question is, nowadays in the USA many credit cards companies are giving cash-back rewards. Some checking accounts (e.g. Discover) also give cash-back points and rewards bonuses for ...
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2answers
111 views

Is it sinful to give bribe to have the inaffordable taxes reduced?

We have two homes and we have rented them. The govt has now increased property taxes greatly. The property tax of two houses sum up to around sixty-thousand. I am a salaried person my father died, ...
5
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3answers
559 views

Is it permissible for me to take out a bank loan to help someone, if I'm not the one paying off the interest?

I know that riba is haram in Islam. However, I need to know if it would actually be haram for me to take bank loan for helping my friend who is in a pathetic condition, if the monthly loan and ...
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3answers
363 views

Is interest entirely haram or can there be exceptions under neccesity?

A query in similar to a question posted on this site (Is interest-based educational loan allowed? ) (this may seem like a similar question, but from a clear angle). Allah says: “Those who devour ...
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3answers
708 views

Is it Haram to work in Bank?

I was wondering would it be haram to work in a bank as the banks profits are a result of interest which is haram in Islam, if it is haram would that mean it would be haram even if a person acquired a ...
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2answers
1k views

Is Binary Option from an Islamic account (No riba and swap-free) halal or haram?

lately I discovered the Binary Option system, with a little bit of research I found companies who offer an Islamic Account to trade. However when I searched on the internet to find if this kind of ...
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1answer
130 views

What exactly is Riba?

I know it means interest. I'm a 16 year old girl revert and I don't quite understand the laws of riba. For example, are phone contracts haram? Are scholarships haram? Is insurance haram? How can I ...
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1answer
49 views

By the Quran or the Prophet's words only, may Riba be produced?

By referencing only the Quran or the Prophets words ascribed by cross-accusation, is it permissible to produce Riba? The assumed beneficiaries of Riba, the lenders, are of course condemned for ...
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3answers
460 views

Is Online Forex Halal?

I've read a lot of articles, hubs, discussions about online forex trading being halal or not. And I got to 3 points/problems that if these (below) are solved, then it would be halal. Interest at ...
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4answers
253 views

Forced to pay interest, how does one deal with it?

Something happened and I lost my job, and I didn't have enough money to pay the flat rent. Here in Sweden if your late in paying rent, what they do is they start to take interest on the rent until ...
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1answer
365 views

Is mining bitcoins riba? Is it haram for some other reason?

Bitcoins can be acquired by 'mining' them, where a computer generates codes and if they're valid you going that bitcoin. Is this equivalent to Rica/interest? Is it haram from some other means?
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1answer
1k views

Mortgage in Islam

I know taking loan and mortgage in haram in Islam. In UK, I am paying the amount of money as rent which I can pay as mortgage. If I pay as mortgage I will be the owner of that house after several ...
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3answers
662 views

Accepting money from non-muslims for charity

I have a doubt with getting money from non-muslims. Me and my friends just started a group ( a charity group to help and feed poor people in our area). Some of my non-muslim friends also have much ...
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1answer
47 views

interest money query

If we have siblings who are NOT SO financially fit and need extra help in terms of money then in that case can one sibling being financially sound give his/her riba to the other sibling?
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67 views

Interest on Property/Gold [closed]

And if you do not do it, then take a notice of war from Allaah and His Messenger but if you repent, you shall have your capital sums. Deal not unjustly (by asking more than your capital sums), and ...
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1answer
80 views

Interest question

Assalam o aliekum, I understand interest is Haram. My question is as follows: I want to lease a car (for 3 years) that has interest % but the company offering me to calculate 3 years of interest ...
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2answers
208 views

Is Rent to buy allowed?

recently I've been searching for a house online, of course I do not want to get involved in Riba Astagfir-Allah, so I started subscribing to all these "sale in execution" property auction websites, so ...
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1answer
57 views

Is the extra cost incurred by buying through monthly premium considered riba? [duplicate]

I am trying to buy a new Mobile phone in a shop, but I don't have enough money to buy it as cash. He offered me something else called Monthly premium. This Monthly premium is good for me, but the ...
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2answers
167 views

Is doing a course and pursuing a career in Algorithmic Trading halal or haram?

I want to do a course in Algorithmic Trading. The course itself does not talk about interest (Riba), but the applications of Algorithmic Trading may consider Riba as one of the factors. Is it ...
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4answers
4k views

Is it permissible to lease a car?

Assalamu alaikum, Is it permissible in Islam to lease a car? Basically, pay 200$ or 300$ per month for a new or good used car for 3 years and at the end return the car to the owner, kind of long ...
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1answer
97 views

Advance charity against Riba

Is it ok to make charity today (ie. in advance) knowing that exact interest amount that shall be credited in my bank account at the end of year?
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2answers
510 views

May one enjoy giving away money earned from interest?

Islam has a concept of not benefiting from interest. Many times I have seen on this site that if someone keeps his money in a bank, he may donate the interest money to charity in order to get rid of ...
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2answers
332 views

What to do with interest paid by banks?

I am being paid interest into my bank account and not really sure who to give it to. Is it simple enough for me to donate it to the mosque or does it have to be donated to somewhere specific?
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1answer
319 views

What is the ruling on working in bank projects? [duplicate]

Salamu alaykum, A company is likely interested in hiring me and I am actually going through several interviews. It is a software vendor company that develop products for testing, validating, and ...
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3answers
406 views

Intention to get rid of Riba money?

I have some Riba money in my account. With what intention do I get rid of this money from the list below? Lillah Sadaqah Zakat Sadaqah Wajibah Fidya (Kaffarah) I have been presented with these ...
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2answers
159 views

Working as Equity Research Analyst

I have a offer from a research firm in which the job is to give investment advice on a particular stock in the capital market. My duty is to study the company and analyse it thereby coming to ...
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1answer
2k views

Investment in Islamic Business conglomerate that gives almost fixed returns

We have been investing in Heera Gold an Islamic company which aims to remove interest in society by allowing investment in their mainly gold export import business with an apparently profit sharing ...
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1answer
319 views

Does the Hanafi school permit debtors to profit from loans?

Unlike a personal loan, which is typically taken and used in need, business loans are often taken with the express intent of profiting therefrom. Often, a business may choose to go in debt not ...
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1answer
181 views

In grave doubt about my newly offered job

I am working as a research analyst in a capital market service firm in India. My current job is to study various companies in the capital goods industry (i.e. companies which manufacture construction ...
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3answers
1k views

Is it ok to pay interest debt with interest money?

Assalaamu aleikum, this query has been on my mind for quite a while now. I was wondering if it is ok to pay interest debts with interest money. For instance, I have a few friends who's bank accounts ...
3
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0answers
375 views

Is working in an investment bank halal? [duplicate]

Many students and graduates do internships and sometimes go further to pursue a career in an investment bank. I wanted to know: what is the ruling on working in an investment bank? I also wanted to ...
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2answers
2k views

Why is Murabaha not considered Riba?

To take the definition of Murabaha from Wikipedia: This concept refers to the sale of goods at a price, which includes a profit margin agreed to by both parties. The purchase and selling price, ...
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1answer
120 views

Asking for more than the agreed upon labor cost?

Today I rode a rickshaw. After reaching my destination, I asked the driver how much the fair was. He asked for an impossible fare and wanted extra money for "the waiting"(which was still too high). I ...
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8answers
21k views

Why is Interest such a bad thing according to Islam?

Source of quoted texts: islamqa.com. "Those who eat Ribaa will not stand (on the Day of Resurrection) except like the standing of a person beaten by Shaytaan (Satan) leading him to insanity. ...
2
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1answer
127 views

Shares in company which manufactures non haraam products

If I become a partial owner of a company via investment, i.e. I buy 100 shares in a company which gives me 1% ownership. If the company sells non haraam products, i.e. metal, but has a loan on which ...
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1answer
321 views

According to the Hanafi school, what goods are susceptible to riba al-fadl?

As far as I know, the prohibition of riba al-fadl is agreed upon by the four major Sunni schools. However, there does appear to be a clear difference of opinion as to exactly what goods are ...
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220 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. ...
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176 views

What is the root of ربا?

ربا is undoubtedly haram as per the Qur'an, which says, "وأحل الله البيع وحرم الربا". This is almost universally translated as "interest" or "usury" in English. As per the Qur'anic Arabic Corpus, ...