Questions tagged [riba]
Riba means Interest. Riba is Haram (forbidden) in Islam, and it is considered a major sin.
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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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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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What should I do about a riba-based loan I took out in ignorance?
I just finished my second year of University and I took out a loan with student finance. I didn't know about the subject of the interest (Riba). What do you suggest could be the best thing I can do?
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What happens in a Murabaha mortgage when the seller defaults?
The question Why is Murabaha not considered Riba? discusses the theoretical difference between Murabaha and riba. I would like to know if there is any practical difference. To be concrete, let's talk ...
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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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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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What to do with the Riba (interest) money? [duplicate]
I have some interest money in my account and I recently came to know it is haram. I want to get rid of it. Please tell me the ways to spend it.
Can I spend it as wedding or birthday gift to my ...
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Interest on the Savings account [duplicate]
Salaam,
My question is about the interest the banks pay on the savings accounts that you maintain with them. The banks generally use your money lying in the account and invest it in the market, they ...
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whats about insurrance schemes according to islam? is it consider as interest or not?
MCB (Muslim Commercial Bank) Pakistan has started a scheme in which when one will go on hajj via there scheme he/she will be eligible for 4 months of free health (hadsaati) insurance,
my question is "...
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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 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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Is it permissible to work in a financial institution, if you work in a role that does not directly deal with riba?
I am a Muslim undergraduate student in the US who is contemplating career options and thinking about the finance track that a lot of undergrads gravitate towards (positions in investment banking or ...
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Zero Interest is causing me more harm than riba, is it the right choice? [closed]
I had to purchase a car, but did not wanted with riba, so the only option was to purchase a new car which I has at 0%, BUT monthly I have now to find a large sum of money which is causing me a lot of ...
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Why is interest such a bad thing? And is this forbiddance still relevant in the modern age? [duplicate]
I know this has been asked a LOT of times, but mine is slightly different (I believe). First of all, a little background about myself: Not a Muslim, probably somewhere between agnosticism, ...
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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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Can I earn interest from 457 plan? [duplicate]
Since I work for the government company we get 457 plan similar to 401k.
Can I earn interest from that and not from the bank?
If not what are my other options?
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Is it permissible to use cash-back credit cards and accounts?
My concern and question is, nowadays in the USA many credit cards companies are giving cash-back rewards. Some checking accounts (e.g. Discover) also give cash-back points and rewards bonuses for ...
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Is it sinful to give bribe to have the inaffordable taxes reduced?
We have two homes and we have rented them. The govt has now increased property taxes greatly. The property tax of two houses sum up to around sixty-thousand.
I am a salaried person my father died, ...
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Is it permissible for me to take out a bank loan to help someone, if I'm not the one paying off the interest?
I know that riba is haram in Islam. However, I need to know if it would actually be haram for me to take bank loan for helping my friend who is in a pathetic condition, if the monthly loan and ...
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Is interest entirely haram or can there be exceptions under neccesity?
A query in similar to a question posted on this site (Is interest-based educational loan allowed? ) (this may seem like a similar question, but from a clear angle).
Allah says: “Those who devour ...
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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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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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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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By the Quran or the Prophet's words only, may Riba be produced?
By referencing only the Quran or the Prophets words ascribed by cross-accusation, is it permissible to produce Riba?
The assumed beneficiaries of Riba, the lenders, are of course condemned for ...
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Is Online Forex Halal? [duplicate]
I've read a lot of articles, hubs, discussions about online forex trading being halal or not. And I got to 3 points/problems that if these (below) are solved, then it would be halal.
Interest at ...
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Should I take loan from the bank at 1% interest or be forced to pay 9% interest by failing to pay rent?
Something happened and I lost my job, and I didn't have enough money to pay the flat rent.
Here in Sweden if your late in paying rent, what they do is they start to take interest on the rent until ...
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Is mining bitcoins riba? Is it haram for some other reason?
Bitcoins can be acquired by 'mining' them, where a computer generates codes and if they're valid you going that bitcoin. Is this equivalent to Rica/interest?
Is it haram from some other means?
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Why are mortgages haram?
I know taking loan and mortgage in haram in Islam. In UK, I am paying the amount of money as rent which I can pay as mortgage. If I pay as mortgage I will be the owner of that house after several ...
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Accepting money from non-muslims for charity
I have a doubt with getting money from non-muslims.
Me and my friends just started a group ( a charity group to help and feed poor people in our area).
Some of my non-muslim friends also have much ...
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Can one give riba to their poor sibling?
If we have siblings who are NOT SO financially fit and need extra help in terms of money then in that case can one sibling being financially sound give his/her riba to the other sibling?
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Drawback of interest economically
Since Islam is a natural religion, What is the drawback of interset economically. Suppose a bank pays me 10% interset on my original, what is the ugly side of this?
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Is it permissible to take on a loan with interest if the interest is paid up front?
I understand interest is Haram. My question is as follows:
I want to lease a car (for 3 years) that has interest % but the company is offering me to calculate 3 years of interest and contribute/pay ...
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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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Is the extra cost incurred by buying through monthly premium considered riba? [duplicate]
I am trying to buy a new Mobile phone in a shop, but I don't have enough money to buy it as cash.
He offered me something else called Monthly premium.
This Monthly premium is good for me, but the ...
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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 it permissible to lease a car?
Assalamu alaikum,
Is it permissible in Islam to lease a car?
Basically, I pay $200-$300 per month for a new or a good used car for three years. At the end of the term, I return the car to the owner. ...
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Is it permissible to make a charitable donation in advance knowing that interest amount will be credited in my bank at the end of year?
Is it ok to make charity today (ie. in advance) knowing that exact interest amount that shall be credited in my bank account at the end of year?
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May one enjoy giving away money earned from interest?
Islam has a concept of not benefiting from interest. Many times I have seen on this site that if someone keeps his money in a bank, he may donate the interest money to charity in order to get rid of ...
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What to do with interest paid by banks? [duplicate]
I am being paid interest into my bank account and not really sure who to give it to.
Is it simple enough for me to donate it to the mosque or does it have to be donated to somewhere specific?
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What is the ruling on working in bank projects? [duplicate]
A company is likely interested in hiring me and I am actually going through several interviews. It is a software vendor company that develop products for testing, validating, and virtualizing services....
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Intention to get rid of Riba money?
I have some Riba money in my account. With what intention do I get rid of this money from the list below?
Lillah
Sadaqah
Zakat
Sadaqah Wajibah
Fidya (Kaffarah)
I have been presented with these ...
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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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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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Does the Hanafi school permit debtors to profit from loans?
Unlike a personal loan, which is typically taken and used in need, business loans are often taken with the express intent of profiting therefrom. Often, a business may choose to go in debt not ...
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In grave doubt about my newly offered job
I am working as a research analyst in a capital market service firm in India. My current job is to study various companies in the capital goods industry (i.e. companies which manufacture construction ...
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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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Is working in an investment bank halal? [duplicate]
Many students and graduates do internships and sometimes go further to pursue a career in an investment bank. I wanted to know: what is the ruling on working in an investment bank?
I also wanted to ...
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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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Asking for more than the agreed upon labor cost?
Today I rode a rickshaw. After reaching my destination, I asked the driver how much the fair was. He asked for an impossible fare and wanted extra money for "the waiting"(which was still too ...
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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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