Questions tagged [riba]

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

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16 views

Giving the bank interest money for musical shows and festival celebrations

I'm doing a shop and I'm living in non Muslim country . To protect our money , we put our money in bank . Bank pays us interest eventhough we do not expect it . So we take that interest money and give ...
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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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Take interest and give away stuff instead [on hold]

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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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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51 views

Difference between interest and APR

I live abroad and while I try to avoid APR when possible. They do have APR. While interest is forbidden in Islam. What is the ruling of APR? Is it the same as interest?
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74 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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56 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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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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23 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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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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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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70 views

Phone contract usury(with late payment fee) permissble?

After a lot of searching, I still can't understand what most of Muslims do with cellphone/internet plans and contracts since I learned late payment fees are not permissible. Some people look at it as ...
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22 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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54 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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65 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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45 views

Difference between Riba & intrest

Two types of banking system are available in the commercial business I e conventional banking and islamic. Normally two words Riba and intrest are used for benefits of account holders. What is ...
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Money exchanged for something that can be used as mode of transaction with terms and conditions

If someone buys a product that can be used as a mode of transaction too and the received product is worth more than what it was payed for, is it considered riba? For example, buying a mobile reload ...
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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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Is it permissible for son to assist a father with money to repay a riba loan?

Asalaam Aleikum Warahmatu'Allahi Wabarakatuhu... My father took a bank loan with interest (riba) and has approached me for assistance with money before the bank takes him to courts of law. Is it ...
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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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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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155 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
75 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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171 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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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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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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178 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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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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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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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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400 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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137 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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665 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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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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280 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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656 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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948 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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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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256 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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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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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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101 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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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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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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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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290 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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506 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 ...
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123 views

Paypal charges a tax while transferring money from account to account - is this Riba?

Paypal charges a tax when you transfer money from one account to another. I am confused on whether is this Riba or not. If it is, what if I change the currency while transferring?
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Is earning through the foreign exchange market (forex) halal? [duplicate]

Foreign exchange involves trading of different currencies in order to make a profit. Does the additional amount count as interest or is it halal?
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1answer
601 views

Is working in central bank haram which does not provide loans nor keep deposits based on interest?

So far I know that working in riba-based bank is not allowed. But for central bank, which does not provide loans nor keep deposits based on interest, will it be permissible to work on the central bank ...