Questions tagged [riba]
Riba means Interest. Riba is Haram (forbidden) in Islam, and it is considered a major sin.
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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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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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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 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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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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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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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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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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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 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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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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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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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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Inquiring legality of istisna mode of transaction
If I am ordering something for manufacturing based on my unique custom needs, like furniture for example, without providing material by my side, I want to know regarding payment options I have with me....
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What are the underpinnings of the prohibition against interest, in sharia and fiqh?
I am already familiar with Quranic references against riba (such as Quran 2:275-280) and a number of ahadith, but the issue for me is the meaning which the prophet attached to riba. In his hadith, ...
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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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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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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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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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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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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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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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Product segregation and pricing
Is it halal for a producer, say a farmer, to segregate his products from the same farm into lower quality and higher quality (e.g. smaller oranges vs. larger oranges) and sell them at different prices?...
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Is this riba? Understanding riba
My intention is to better understand what constitutes riba. Please note that some of these questions are far-fetched hypotheticals constructed only for insight. Again, I do not want to come across as ...
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Is it Haram to play a game with interest?
So I play this game Hypixel Skyblock on Minecraft, and it has a bank that lets you gain interest. So would that make it haram for me to play it and if so, would it still be Haram if I stopped using ...
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Is forex trading on iq option Halal or Haram?
can forex trading be considered halal if you sell and buy on the same day? I have been researching on this and some people say it is okay because you don't have interest in an Islamic account.
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Is selling a foreign currency with higher rates as fees of the service I'm giving is considered as haram?
I earned some money outside of my country in USD currency (foreign currency). My friend who lives in my country wants to buy some good from online shopping websites so I agreed with him to sell him ...
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Are Credit Unions allowed?
I'm part of a credit union. They call the payouts both interest and dividends. But they are interest really they are dividends. I'm not sure what to make of it and whether it's permissible or not. Any ...
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Query regarding Current Account in a conventional bank
Well I know that current account itself is not haram, because there is no interest involved in it.
And i know that it is better to use Islamic banks.
But my question is that if my company only pays me ...
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Can I use money to pay GOVT tax that i got from bank interest
In my country I have to pay tax to govt yearly. We call this "Tax return".
GOVT take it from us according to bank transaction and my income in a year with calculating my all wealth and ...
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Is the interest from savings account a usury?
Is interest earned from savings account or fixed deposit a usury?
Usury by definition means taking money at higher rate to exploit the borrower?
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Change of hands during heirship in Islamic economics
I recently learnt (from sources like ustad Zaid Patel's course in Hindi/Urdu and Sheikh Bilal in English) that if a person's income is haram or includes haram, it becomes halal for the other person ...
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Regarding loan/debt from both parties in Islamic economics
I've learnt that in economic deals, there should be no loan/debt from both the sides/parties at the same time. For example, if I purchased a mobile, and promised to pay "later" and ...
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Paying tuition fees through riba based bank
Is it permissible to pay my tuition fees through a riba-based bank? My school has only one option to pay tuition fees. I only go to the bank and pay the fees to the cashier and they sign my fees card, ...
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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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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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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 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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Loyalty Program: Halal or Haram?
Salam!
Today, I came across a question on ask.ghamdi.org forum. I'm curious to know the answer. The question is:
The city in which I’m currently living in has loyalty program where if I buy a member ...
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