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

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Is this sort of business classifies as Riba?

My situation requires me to buy a car. It is really mandatory, not for luxury purpose. I really need it because of the cold weather and for transporting my kids to school. I have waited so long to be ...
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2answers
17 views

Are you allowed to use saved interest money to pay interest?

Are you allowed to use interest money that you gained from saving accounts towards paying the interest fees for a mortgage? The mortgage consists of money I have borrowed to buy a house AND interest ...
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72 views

Can I do banking job?

I am a Muslim girl and I have just qualified my Inter examination. When I was in class 2, my father expired and in my family I have 1 younger sister and my mother. Since then I had been supported by ...
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44 views

Is it OK to teach Banking related subject in school?

Is teaching of interest based banking system in school allowed for a muslim teacher?
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37 views

Utilization of profit on saving account

I have saving account in a bank. I obtained profit of Rs. 12500/-. It is interest? How can i get rid of this amount? Can i give it to my brother who is needy right now? Thanks and regards
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2answers
272 views

Is it ok to buy vehicle on EMI?

Is it ok to buy something on EMI? For example i am planning to buy a vehicle which is of cost around 50,000(INR). If i can't afford 50,000 togather now than i have other option to buy vehicle on EMI (...
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1answer
153 views

Is eating food from person who receives or pays interest haram?

I heard that eating food is haram in homes where the main income is from interest (riba) or the persons in the home pays it willingly. What I heard is right or wrong? Is there any specific authentic ...
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479 views

Revenue sharing sites are haram or halal?

In revenue sharing sites, we have to purchase adpacks in order to advertise and earn. Each adpack gives us some credits that we can use to advertise our business. Other than this, we also receive ...
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199 views

Is Accounting haraam?

I am soon going to be starting a degree in Accountancy. I have tried to research this topic many times but have not found a proper answer. As far as I am aware, the job of an accountant involves ...
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58 views

Is leasing machinery for business is permisable?

I am a business man in Spain and we need to buy some machinery for manufacturing purposes. As I don't take riba-based loans, it's very tough for us to work because no bank has riba-free plans here; we ...
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118 views

How is rent different from interest? [example given]

Say I have $100,000 cash and a house worth $100,000. I loan Sam the $100,000 cash for 10% of 100,000 ($1000) interest each month. Also, I rent out my house to Kate for $1000 rent per month. If Sam ...
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89 views

Do we know if Allah prohibited all forms of riba with the children of Israel?

Salaam, In the Old Testament, we have the following verses that talk about riba: "You shall not charge interest on loans to your brother, interest on money, interest on food, interest on anything ...
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56 views

Can I make use of land that was purchased with an interest-based bank loan?

I have already bought a land. But to buy the land, I took some loan (portion of total money needed to buy) from a interest-based bank. Monthly basis I am still paying to the bank to return the money ...
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215 views

Giving away interest money in charity

I know this question has been asked plenty of times, but I've been wondering (because it's still unclear): can I give away riba money to non-Muslim organizations? Like Unicef, or any other company ...
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1answer
81 views

What should I do about a riba-based loan I took out in ignorance?

I just finished my second year of University and I took out a loan with student finance. I didn't know about the subject of the interest (Riba). What do you suggest could be the best thing I can do? ...
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126 views

What happens in a Murabaha mortgage when the seller defaults?

The question Why is Murabaha not considered Riba? discusses the theoretical difference between Murabaha and riba. I would like to know if there is any practical difference. To be concrete, let's talk ...
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227 views

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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2answers
368 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 ...
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391 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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281 views

Interest on the Savings account [duplicate]

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
100 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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3answers
152 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
67 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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87 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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123 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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238 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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68 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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76 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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1k 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
146 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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2k 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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2answers
693 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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5k views

Is it Haram to work in Banks?

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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5k 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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196 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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53 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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945 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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384 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
795 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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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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1k 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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61 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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82 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 you ...
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96 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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620 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
70 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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246 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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9k 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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121 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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601 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 ...