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Questions tagged [riba]

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

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249 views

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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2answers
423 views

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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3answers
1k views

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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0answers
37 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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0answers
69 views

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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0answers
20 views

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
85 views

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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0answers
81 views

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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0answers
44 views

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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0answers
88 views

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
2k 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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0answers
82 views

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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0answers
25 views

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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0answers
102 views

Question regarding working for a company where there is a element of interest [duplicate]

I am a Software Developer by profession and I have been avoiding Banking and Insurance sector jobs because of Riba. Also ignoring those companies who are developing softwares specifically for Banking ...
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0answers
52 views

Is working in a company which deals with bank loans permissible? [duplicate]

The main part of my work (non-Muslim company in non-Muslim country) is preparing export documents to buyers and corresponding with them. At the same time, I have to correspond with the local banks ...
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2answers
449 views

Can I do banking job?

I am a Muslim girl and I have just qualified my Inter examination. When I was in class 2, my father expired and in my family I have 1 younger sister and my mother. Since then I had been supported by ...
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0answers
47 views

Utilization of profit on saving account [duplicate]

I have saving account in a bank. I obtained profit of Rs. 12500/-. It is interest? How can i get rid of this amount? Can i give it to my brother who is needy right now? Thanks and regards
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63 views

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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1answer
89 views

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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1answer
132 views

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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2answers
1k views

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
107 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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1answer
159 views

Can interest on property/gold be put to a good use? [closed]

And if you do not do it, then take a notice of war from Allaah and His Messenger but if you repent, you shall have your capital sums. Deal not unjustly (by asking more than your capital sums), and you ...
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2answers
618 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
77 views

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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1answer
94 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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1answer
24 views

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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1answer
80 views

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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0answers
35 views

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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0answers
25 views

Is it permissible to work in a bank/financial institution in a non Muslim country?

As-Salaam-Alaikum brothers, I have graduated and completed a small internship in a financial institution, since I knew it is not permissible to work in banks because they deal in ribah, I searched up ...
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0answers
67 views

Is it halal to take a riba-based loan for someone else, and receive fees for this?

I was given an offer to get a loan for a builder, in return of which he would give me 6% of the loan amount. The procedure of work is: The builder would put his property in my name which I need to ...
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0answers
34 views

Have i committed riba or is it fixed?

This just popped back in my head. So i bought an online item some other time. And i did not really like it so i refunded it. I got my money back but i still had the item (which i didn't want to). So i ...
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0answers
23 views

Can I work in a company that provides solutions to the bank?

What is the ruling if I work for a company that provide solution to interest based banks? Also what is the ruling if a bank is giving me money to do a task that is not related to banking.
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12 views

Is it haraam to work indirectly for riba based firms? [duplicate]

I am looking to make career in data scientist. But most of analytics firm have clients of banking and financial institution,insurance,entertainment firm etc.so if i work for this client and analyze ...
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1answer
317 views

What is the kaffara on a bank loan with interest over the last two years?

I took a bank loan for education and have been paying interest for the last two years. What is the kaffara for this sin? Please enlighten in the light of Quran and Hadith.
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1answer
802 views

Is accounting haraam?

I am soon going to be starting a degree in accountancy. I have tried to research this topic many times but have not found a proper answer. As far as I am aware, the job of an accountant involves ...
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2answers
191 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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2answers
2k views

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 ...