Questions tagged [riba]

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

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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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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 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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42 views

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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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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75 views

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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Renting vs riba securing children future

I came upon this post after making sincere dua for guidance on this issue of purchasing a property with a bank loan. The purpose of wanting to purchase a property is to safeguard the protection of my ...
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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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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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67 views

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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89 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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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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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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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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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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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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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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51 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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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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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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221 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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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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128 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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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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261 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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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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547 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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4k 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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142 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 of: £17,...
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319 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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633 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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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 ...
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971 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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336 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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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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2k 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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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 ...