Questions tagged [riba]

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

37 questions with no upvoted or accepted answers
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1answer
80 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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Is it OK to teach banking related subjects in school?

Is teaching interest based banking system in school allowed for a Muslim teacher?
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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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287 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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1answer
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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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1answer
883 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 ...
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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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71 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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118 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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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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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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0answers
19 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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332 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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1k views

Is Renting a property Haram if the rent agreement contains Riba?

The question is not about whether renting is lawful or not. The question is about the terms and conditions that come in every rental contract, and these are: If the rent remains unpaid for over 14 ...
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94 views

Can I make use of land that was purchased with an interest-based bank loan?

I have already bought a land. But to buy the land, I took some loan (portion of total money needed to buy) from a interest-based bank. Monthly basis I am still paying to the bank to return the money ...
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7k views

Investment in Islamic Business conglomerate that gives almost fixed returns

We have been investing in Heera Gold an Islamic company which aims to remove interest in society by allowing investment in their mainly gold export import business with an apparently profit sharing ...
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1answer
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Rent payments with redemption

Assalamu aleikum. I have a question regarding mortgage. One of our state banks provide a program for young families. You have to open a deposit account and make certain deposit payment every month ...
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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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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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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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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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1answer
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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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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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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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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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1answer
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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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1answer
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Is leasing machinery for business is permisable?

I am a business man in Spain and we need to buy some machinery for manufacturing purposes. As I don't take riba-based loans, it's very tough for us to work because no bank has riba-free plans here; we ...
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2answers
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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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1answer
108 views

Is working in insurance company allowed if the Sharia Council of that country has approved it to be following Sharia rules?

I have been offered a job from a medical insurance company to work in their head office. In their profile they say that their company's operations are approved by Shariah Review Bureau (this ...
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2answers
669 views

Working as Equity Research Analyst

I have a offer from a research firm in which the job is to give investment advice on a particular stock in the capital market. My duty is to study the company and analyse it thereby coming to ...
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1answer
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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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Investing in Stock market question

Assalamualaikum I Had a question regarding investing in stocks, i understand to stay away from riba, drugs and alcohol however is it permissible to buy shares of an airline or a cruise ship or an ...
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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 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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1answer
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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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How renting isnt a riba

One of the form of riba is getting richer by lending something unlike a lot of muslims think a riba an-nasiya isnt limited on money only but you can lend any goods asking for more , it is riba ...