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Questions tagged [riba]

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

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37 views

Where are free from riba countries?

In the name of Allah, I live in a country where all the banks are likely under a central bank that charges interest. So in order to get out of this system, I want to migrate to another country that ...
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37 views

Is working in a company whose main income source is interest based money

The company name is paytm.indian company.it has electronic wallet which is connected to individuals bank and money can be transferred from bank to wallet. and interest generated from money in the ...
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69 views

How to avoid Central Banking System in a country?

I live in Indonesia where all banks is likely under a central bank. As we know that the central bank still applies interest rate, so all the 'sharia labelled' banks in Indonesia is still affected by ...
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25 views

Is it permissible to work in a bank/financial institution in a non Muslim country?

As-Salaam-Alaikum brothers, I have graduated and completed a small internship in a financial institution, since I knew it is not permissible to work in banks because they deal in ribah, I searched up ...
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20 views

Can I use interest earned from savings account to pay interest on home loan

I am from India where every salaried individual gets an interest on his salary account by default. I have accumulated a significant sum of this haram money which I am planning to donate. I am also ...
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67 views

Is it halal to take a riba-based loan for someone else, and receive fees for this?

I was given an offer to get a loan for a builder, in return of which he would give me 6% of the loan amount. The procedure of work is: The builder would put his property in my name which I need to ...
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43 views

Need loan to expland business operation

I am running a business and I would like to take loan from a bank to buy larger property for business expansion. The property reamins with bank as collateral until debt is paid off. Bank asks for 10%...
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34 views

Have i committed riba or is it fixed?

This just popped back in my head. So i bought an online item some other time. And i did not really like it so i refunded it. I got my money back but i still had the item (which i didn't want to). So i ...
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276 views

Can I exchange notes to coins but for a lower amount?

There are situations when we are need of coins. At times, some touts like to take advantage of the situation and take a fee to the exchange from us. For example: For a bill of $10, they return only $...
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24 views

Can I work in a company that provides solutions to the bank?

What is the ruling if I work for a company that provide solution to interest based banks? Also what is the ruling if a bank is giving me money to do a task that is not related to banking.
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30 views

Take interest and give away stuff instead [closed]

If I have 300 USD of interest in cash and a jewellery of 300 USD from halaal money, if I need cash right now, can I give the jewellery to charity instead and take the interest money?
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13 views

Is it haraam to work indirectly for riba based firms? [duplicate]

I am looking to make career in data scientist. But most of analytics firm have clients of banking and financial institution,insurance,entertainment firm etc.so if i work for this client and analyze ...
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78 views

Buying a house with interest?

I thought about it and if I want to buy a house in Germany, there is nearly no way that you buy it without interest. The exception is when you are wealthy. I know that bank interest is haram and I ...
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1answer
85 views

Is this riba and how do i fix this?

At the vending machine in our school, i got a hot chocolate. I wanted to pay, but the machine didn't let me. And you also have to pay with credit card. What am i supposed to do?
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69 views

Why is there no worldly punishment prescribed for dealing with interest?

It seems that interest ( riba) was said to be worse than adultery. I am wondering if that's the case, why is there no worldly punishment prescribed for ones who engage in interest but yet adulterers ...
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1answer
32 views

Indexed Linked Investment Certificates - haram or not?

I am aware that Riba (usury) and investing in specific markets (Alcohol, Porn, etc.) is haram. However I was wondering if investing in index-linked certificates are deemed to be halal..? These ...
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81 views

How to buy a home in halal way

Assalamu Alaikum, I knew in India all the bank giving a loan based on interest, Now a days buying a home without loan is difficult for upper class family itself. then how a middle class man buy a ...
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53 views

what is the Islamic point of view about taking balance as loan in cell phones?Does that count in interest?

When we take loans, a particular network provides us loans but then they deduct more credit after we recharge.
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1answer
24 views

Loans based on deposit?

Is it permissible to give an interestless loan in which the loaning party holds a sentimental item of the one taking the loan until the loan is paid?
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1answer
55 views

Is extra money out of love or fine over a loan regarded as Riba?

I am trying to find the answer for the below two scenarios. Let's assume someone has given a loan of $10000 for a period of 2 months. Scenario 1: The lender and borrower decide that for every extra ...
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1answer
95 views

Is being a Finance Controller/ CFO haram?

In both of these jobs, the person has to decide how to finance his business operation which sometimes is by taking loan from financial institutions like banks. Also, In multinational companies, the ...
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44 views

Buying Prepaid Card

Anyone knows the ruling of prepaid card such as google play and steam wallet? say in Amazon US it costs 20 dollar to buy 20 Dollar gift card, but in my country it will cost IDR 22k for 20k, it looks ...
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90 views

What should i do with riba money if it is already mixed with non riba money?

Assalamualaikum, I would like to ask what i should do with riba money that have been mixed with non riba money. Let's say for example we do some business and sometimes the transactions we do ...
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88 views

Does one have a profit in an Islamic banking system?

Usually when you open an account in a bank they try to attract you with interest. My question is how so called Islamic banks can -likewise- offer their customers, especially as riba (and interest is ...
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2answers
191 views

Justification of Interest and EMI

This question is regarding a justification given to me about EMI. Suppose I want to buy something which is say worth 100,000$ but I can't afford that much at a time. So the company gives me another ...
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1answer
77 views

The strictest school/denomination/section against usury (“interest”)?

What is the strictest school/denomination/section, in Islam, against usury ("interest")? I mean to a school/denomination/section that not only forbids usury, but also forbids any "mechanism" to pass ...
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1answer
278 views

Is payment processing fee (paid by customer) interest if that fee become a gain for me instead of cost?

I take occasional payment from my customers using bKash (a mobile financial service provider in Bangladesh). I'm using their personal account option, which is mainly for personal transaction. I load ...
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1answer
2k views

Is it halal to take a student finance loan for education?

Muslim students tend to take a student finance loan in order to go through university without financial strain, but I've recently discovered there is interest involved. According to my friend, some ...
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135 views

Is a UK university student loan riba, and if so, is it “necessary” if I have no other means to pay for education or to provide for my family?

I’ve heard student loans deemed as Ribaa. However, for a UK university student loan, the conditions are documented: How much you repay You pay back 9% of your income over the minimum amount ...
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1answer
213 views

Does buying a phone in installments involve riba, given that the total cost is more?

I am planning to purchase a phone for £25 upfront payment and £25.52 and over 24 months it is £637.48 for the iPhone 7, however, the Buy It Now price is £539, I am aware this includes interest but is ...
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54 views

Investing in halal company that is partnered with company planning to add leverage trading (involves interest) in the future

Salam all, I have invested in a cryptocurrency ICO (like an IPO for cryptocurrencies/crowdsale) after researching into it to find any sort of haram connections or actions taking place by the company. ...
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18 views

Giving land to developers who work there by money from interest based loan

We know that after giving our land to them to work with the developers are going to take loan from conventional bank (involving RIBA) to work on my piece of land. So my question is, is it halal to ...
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82 views

Is it halal to pay riba with riba? [duplicate]

Instead of sending unwanted income from riba towards charity, would it be halal to use the earned riba to pay the interest-only portion of a loan such as a mortgage or student loan. For example, if ...
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1answer
418 views

Is it permissible to pay off my relative's loan with interest using zakat money?

I am planning to paying off my relative's loan with interest in bank with zakat money. Question: Is it permissible to pay off loan with interest using zakat money?
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1answer
149 views

What does “doubled and multiplied” means in the context of usury in Qur'an 3:130?

O you who have believed, do not consume usury, doubled and multiplied, but fear Allah that you may be successful. -- Qur'an 3:130 Question: What does "doubled and multiplied" means in the context of ...
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1answer
765 views

Is buying a car on installments from a commercial Islamic bank haram?

I want to buy a car from Suzuki through a so-called Islamic bank on installments. However, the car price is 11 lakh but I have to pay approx 14 lakh in 5 year installments. Is this interest or ...
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25 views

Paying off the interest of a student loan with interest earned from investments [duplicate]

Assalaamu alaikum. I have student loans that are accruing a lot of interest. I have an investment account given to me by my employer, but I have not made any personal contributions to it because ...
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292 views

Is fiat currency devaluation via inflation a form of interest, making fiat currency based money haram?

Since almost all currencies used today are fiat currencies with no real intrinsic value, and since most fiat currency devalue, is it really interest when any money bearing this interest is itself ...
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1answer
736 views

Are late payment charges considered as Riba?

Are late payment charges that may arise from being late in paying for bills considered as Riba. For example one misses a payment for their electricity bill, as a result the supplier demands that the ...
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1answer
1k views

Is intraday trading haraam if you convert losses to investments?

The name "intra-day trader" refers to a stock trader who opens and closes a position in a security in the same trading day. ... Day traders and intra-day traders are at the top of the risk spectrum. --...
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225 views

Is Usufruct (where a loaned item produces something) a form of interest?

There is a concept called "Usufruct" (use fruit) where an item is lent, but it produces something during the period of the loan. I lease my two horses to Omar for a year while he uses my house. These ...
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1answer
274 views

What precisely does the “fallacious” fatwa of Muhammad 'Abduh regarding business transactions involving interest say?

From The Evolution of Fiqh (Islamic Law & The Madhhabs) by Abu Ameenah Bilal Philips (pdf), pages 119-120: Muhammad 'Abduh (1849-1905 CE) ... made a Fatwaa allowing Muslims to be involved in ...
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3answers
114 views

Is paying 25% more than you borrowed interest?

Sorry if this sounds silly. We can access a government university loans where we have to pay back 125% of what we borrowed. Is this considered interest? I.e. the amount we have to pay back is what ...
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49 views

My company sells software to banks, is this riba? [duplicate]

I recently started working for a software company that provides software and support to some banks and hospitals. Since I am not directly working with interest and not employed by the banks, would ...
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102 views

Question regarding working for a company where there is a element of interest [duplicate]

I am a Software Developer by profession and I have been avoiding Banking and Insurance sector jobs because of Riba. Also ignoring those companies who are developing softwares specifically for Banking ...
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52 views

Is working in a company which deals with bank loans permissible? [duplicate]

The main part of my work (non-Muslim company in non-Muslim country) is preparing export documents to buyers and corresponding with them. At the same time, I have to correspond with the local banks ...
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3answers
6k views

If interest is haram, how can a Muslim get a house or a car in modern times?

If interest is haram, how can a Muslim get a house or a car in modern times? The prices these days are so inflated it is impossible for regular people like myself to afford the so-called basic ...
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2answers
230 views

Is it a sin to accept e.g. food from a relative who supports herself using riba?

I am in a grave confusion for a long time. I am well aware of the fact that taking interest or being associated with anything related to it is a dangerous sin. But my aunt (from my mother’s side) ...
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1answer
317 views

What is the kaffara on a bank loan with interest over the last two years?

I took a bank loan for education and have been paying interest for the last two years. What is the kaffara for this sin? Please enlighten in the light of Quran and Hadith.
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1answer
562 views

Is it permissible to take commission for converting other people's black money to white?

I need to know if it's halal/haram to convert someone's money from bank. If someone has black money, by which I mean he has not paid tax to the government, can we convert it to white money (i.e. money ...