Questions tagged [riba]

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

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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 high). I ...
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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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Shares in company which manufactures non haraam products

If I become a partial owner of a company via investment, i.e. I buy 100 shares in a company which gives me 1% ownership. If the company sells non haraam products, i.e. metal, but has a loan on which ...
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According to the Hanafi school, what goods are susceptible to riba al-fadl?

As far as I know, the prohibition of riba al-fadl is agreed upon by the four major Sunni schools. However, there does appear to be a clear difference of opinion as to exactly what goods are ...
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How do long term halal loans work with inflation in Islam?

I have a series of questions about Islamic loans. My first question is this: If person 1 loans 100k to person 2 and creates a contract which states that the agreed payback date is 25 years from now. ...
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What is the root of ربا?

ربا is undoubtedly haram as per the Qur'an, which says, "وأحل الله البيع وحرم الربا". This is almost universally translated as "interest" or "usury" in English. As per the Qur'anic Arabic Corpus, ...
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What is ربا (Riba) according to the Quran?

What is Riba according to the Quran? Please also state the verses in the Quran that hints to the term.
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Can I ask for repayment of service charges along with repayment of a loan?

I have a (non-interest bearing) account with a local bank. Typically this account charges a monthly service fee, which is waived as long as a minimum balance is maintained. If I were to agree to ...
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Is making an “equivalent value” loan in accord with Islam?

In much of the modern world, currency is defined according to a "floating exchange rate." To the best of my knowledge, such an innovation was unknown during the time of the prophet, where the economy ...
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Are shares Halal?

The company that employs me are offering me shares in the company. I pay in on a regular basis. I don't see anywhere about interest, but they will be subject to the market price of the company. Are ...
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Is it acceptable to accept donations from haram money cards?

We all know that credit cards and similar money cards are haram, so would it be haram to accept donations from such cards?
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How do Islamic banks make money if interest is prohibited?

I know that Islamic Banking involves the prohibition of interest based loans. But how do Islamic Banks make profit if they charge no interest?
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Is interest-based educational loan allowed?

Students from economically backward communities who opt for higher studies generally depend on educational loans, which are offered with interest, either by banks, developmental organisations, or by ...
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Can a Muslim borrow money from his own 401(k) plan, with interest?

I understand from this, and other related questions, that Muslims are not permitted to charge interest on loans. This brings up a question for me: In the U.S. many people have 401(k) retirement ...
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What is the Sharia ruling on working in a bank?

Nowadays, lot of students look for getting a job in banks. What is the Islamic view if a person gets a job in bank?
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Is real estate business allowed in Islam?

Is real estate business allowed in Islam? I live in the US and most buyers within the US buy a property with a mortgage loan, and I know anything to do with interest is not allowed. The only reason ...
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Is this lease-like financial transaction allowed in Islam?

Let's imagine this as follows: A is in need of $10,000 cash urgently and finds no lender. He owns a house, which he had rented out to someone for $500 a month. A, driven by the need of cash wants ...
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what should be done with bank account interests to avoid riba? [duplicate]

Possible Duplicate: How to cope with interest payed by banks? If you have an account in a bank that automatically puts an interest rate on it , how can someone in this case avoid being in Riba ? ...
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How to cope with interest payed by banks?

People have saving accounts in bank to save money in a secure place. And Salary accounts are also a kind of Saving account. Banks usually pay a small amount of interest after particular interval. My ...
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How to buy and sell rare currencies without approaching riba?

Among collectors, there are people who collect coins and banknotes which are considered rare or unusual. Often these would be older currencies which are no longer produced (although they may still be ...