1
vote
If interest is haram, how can a Muslim get a house or a car in modern times?
There are special programs for this. Basically, you purchase the house or car and pay no interest, but in addition to your principle payments you also pay "rent" to the bank (or trust) which is ...
- 156
1
vote
Is it riba (a major sin) to have a mortgage from before I converted to Islam?
Remember Allah is most gracious most merciful, people like to see Allah as a God of punishment. He has no gain in punishing anyone other than to enforce justice or to straighten a person out.
In your ...
- 19
1
vote
Can I perform hajj given that I have a mortgage?
Yes, you can do Hajj even if you have mortgage. If you are dealing with riba, then it is a big sin. But a sin does not prevent a Muslim from going for Hajj.
Edits:
Let me elaborate on this.
For ...
- 455
1
vote
What happens in a Murabaha mortgage when the seller defaults?
maybe i can help a little, i work at one of islamic/syariah bank in indonesia. according to my associate, apart from reconstruction or rescheduling, in case of default,
rather than
grab the house ...
- 26
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