Riba means Interest. Riba is Haram (forbidden) in Islam, and it is considered a major sin.
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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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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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Is it a sin to pay interest?
Let's say someone has made a housing loan with 3% interest and such. They can't own the house without the loan, but there are no interest free loans. Is it a sin to pay off the interest on this loan?
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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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Which Sharia compliant organizations provide interest free investment or banking services
I can hardly find any Sharia compliant organizations providing riba free investment services or at least basic banking services. Hence wanted to know them.
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Is working in an investment bank halal?
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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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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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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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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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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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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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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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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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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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 ...
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Is Riba Haraam? - Part 2 (Shia view)
Continuing on from this question, I can see that the Shia view on Riba is that it is haraam.
So my question now is this. Are Riba based mortgages also haraam according to Shia views? Or does Riba ...
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Is Riba Haram? (Shia View)
According to sunni's riba is haraam, i.e. interest received or given to anyone at any time including to the bank, people, friends, relatives, for house mortgage payments etc etc.
Do Shia's have the ...
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Is making an “equivalent value” loan in accord with Islam?
In much of the modern world, currency is defined according to a "floating exchange rate." To the best of my knowledge, such an innovation was unknown during the time of the prophet, where the economy ...
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Are shares Halal?
The company that employs me are offering me shares in the company. I pay in on a regular basis. I don't see anywhere about interest, but they will be subject to the market price of the company.
Are ...
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Is it acceptable to accept donations from haram money cards?
We all know that credit cards and similar money cards are haram, so would it be haram to accept donations from such cards?
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How do Islamic banks make money if interest is prohibited?
I know that Islamic Banking involves the prohibition of interest based loans. But how do Islamic Banks make profit if they charge no interest?
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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 ...
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Can a Muslim borrow money from his own 401(k) plan, with interest?
I understand from this, and other related questions, that Muslims are not permitted to charge interest on loans.
This brings up a question for me:
In the U.S. many people have 401(k) retirement ...
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What is the Sharia ruling on working in a bank?
Nowadays, lot of students look for geting a job in banks. What is the islamic view if a person gets a job in bank?
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Is real estate business allowed in Islam?
Is real estate business allowed in Islam? I live in the US and most buyers within the US buy a property with a mortgage loan, and I know anything to do with interest is not allowed. The only reason ...
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Is this lease-like financial transaction allowed in Islam?
Let's imagine this as follows:
A is in need of $10,000 cash urgently and finds no lender. He owns a house, which he had rented out to someone for $500 a month. A, driven by the need of cash wants ...
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what should be done with bank account interests to avoid riba? [duplicate]
Possible Duplicate:
How to cope with interest payed by banks?
If you have an account in a bank that automatically puts an interest rate on it ,
how can someone in this case avoid being in ...
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How to cope with interest payed by banks?
People have saving accounts in bank to save money in a secure place. And Salary accounts are also a kind of Saving account. Banks usually pay a small amount of interest after particular interval. My ...
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How to buy and sell rare currencies without approaching riba?
Among collectors, there are people who collect coins and banknotes which are considered rare or unusual. Often these would be older currencies which are no longer produced (although they may still be ...
