Questions tagged [riba]

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

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Is giving equity in exchange of debt riba?

on shark tank you often see deals where an investor say I'll give you $100k as debt. But i'd like 5% equity in company as well. equity is taken right away. debt is paid over time. from one perspective ...
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Can I use interest to earn back money lost from inflation?

I live in a country that suffers from a high rate of inflation. I understand that interest is haram (this is not questioned). But when 100 money is worth 90 money the next year, surely I should be ...
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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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Is it haram for me to take these awards?

Assalamualaikum, Earlier this year i took part at a project in my school. We had to make a video about a certain profession and the video I made also has background music. Now, months later it turns ...
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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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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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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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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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Difference between commerce and Riba in Islam, Does commerce entails risk?

What's the difference between commerce and RIBA in Islam? Let's take the example of looking for a loan to buy a house. Traditional banks are using Riba because they lend you money, you buy your ...
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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. What is the Islamic point of view about taking balance as loan in cell phones? Does that ...
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Is indirect help to a riba business haram?

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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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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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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Credit card debt as revert (is this riba?)

I just reverted to Islam. I am in a bit of a pickle. When I was not a Muslim I used American Express during my times as a student and I did not have that much money for a while. Which is why I have a ...
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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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Is it haram to invest on a bank's stock that has interest as a source of income?

I want to invest in a bank's share, but I know the bank earns interest as a source of income. But it does have other sources of income too. Will it be haram for me to invest in it knowing that it ...
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483 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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Using PayPal to pay for goods and services

A similar question has been asked here about transferring funds through PayPal but the purpose in this question is different: it is about buying something (or paying for something you are going to get ...
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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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Are you allowed to collect bank intrest in a video game? [duplicate]

If it is Haram or Halal whats the reasoning?
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Working on a company which provides softwares to banks [duplicate]

I saw some related questions but I have another situation. I am going to interview with a company which is developing applications to bank customers. I have 2 questions at this point. If I work on ...
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81 views

Authenticity of Hadith on Riba

Can anyone confirm the authenticity of these Hadiths with references. “Consuming one dirham of Interest is like doing Zina 36 times” and “Riba equals to 70 Sins. Lowest of them is having ...
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Is attending a property transaction where buyer is getting loan forbidden?

What I have read till now is indulging in ribs in anyway is forbidden, be it taking, giving, making contract, executing or being witness. My questions: What if I do not facilitate loan but get muslim ...
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Is it permissible to work in a NGO that has a microfinance program, which is also one of it's source of fund? [duplicate]

Praise to Almighty Allah. After more than 1.5 years of being unemployed, I finally got an offer from an International NGO (BRAC,www.brac.net) to work as an IT advisor in their Health, Nutrition and ...
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5k 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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Doubt regarding Dhat al-Fudul and Interest

I have heard that Prophet(s.a) have pawned his Dhat al-Fudul with Abu ash-Shahm Jew, in return for some 30 sa(weights relate to food) of barley for his family. Does it involved Interest? Or did Abu ...
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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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Student loan and kaffarah

Salam, I’m in really desperate need for help. Basically I have a student loan which have interest I repented from it but it’s the only money I have to live. I don’t live with family and they can’t ...
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Is it Haram to take interest in a game? [duplicate]

We know that Riba interest is Haram . Does this apply to games as well ? Example : MONOPOLY Is it haram to take interest from another player ? The money is not real world money and has no real ...
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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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Is working in bank IT department is haram?

I've been working in a bank for almost 1 year. I'm work involved in development & maintenance of remitting software and various bill collection utility (Electricity, Gas, Water etc) software. My ...
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Can one do sadaqa (voluntary charity) out of haram income?

Can one do sadaqa out of haram income? Is it acceptable to almighty? Or almighty will punish him who will pay sadaqa out of haram income?
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If there is no way at present for me instead of depending on bank interest , what should I do?

Assalamu Alaikum. I'm a student who's father died 5 years ago. When he was alive he saved his part of income in bank accounts. Now I live with my mother and I'm the only child of my parent. As far as ...
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if I am NOT paying for life Insurance, is it permissable?

Assalamualaikum. Most of us are familiar insurance is considered haram because of the presence of riba/interest. I've started working for US government and government employees are automatically given ...
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5k 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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266 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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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 $9....
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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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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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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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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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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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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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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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286 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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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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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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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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38k views

Is it Haram to work in Banks? [duplicate]

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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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 ...