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

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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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Do Islamic Banks lend money on Fractional Reserve basis ?

Since riba is prohibited, Islamic banks don't practice interest based lending or give interest on deposits. my question is do these sharia compliant Islamic banks participate in 'Fractional reserve ...
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15 views

interest haram Or halal [duplicate]

i just want to know that can i take interest from bank? I deposited 5000.00 BDT respectively 1 year. for 1 year my deposited amount total BDT 60000.00 & bank give me a after one year BDT 70000.00. ...
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24 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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33 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
57 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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3answers
100 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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26 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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19 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
309 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
104 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, ...
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3answers
386 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
333 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
520 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
979 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
126 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
47 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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1answer
377 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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217 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
337 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
848 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
580 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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1answer
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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
78 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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174 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
55 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
150 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
3k 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
90 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
489 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
320 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
303 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
380 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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1answer
133 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
311 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
178 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 ...
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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
1k 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
118 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
19k 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. ...
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1answer
123 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
305 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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2answers
212 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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1answer
169 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, ...
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978 views

What is ربا (Riba) according to the Quran?

What is Riba according to the Quran? Please also state the verses in the Quran that hints to the term.
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114 views

Can I ask for repayment of service charges along with repayment of a loan?

I have a (non-interest bearing) account with a local bank. Typically this account charges a monthly service fee, which is waived as long as a minimum balance is maintained. If I were to agree to ...
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203 views

Intention + haraam financing = halaal financing? (Sunni view)

I understand that Sunni's consider all forms of Riba to be haraam, including riba based financing such as mortgages. I also understand that Shia based scholars consider riba to be haraam, but ...