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5 votes
Accepted

What precisely does the "fallacious" fatwa of Muhammad 'Abduh regarding business transactions involving interest say?

The fatwa in question is highly publicized, and is the basis that many so-called modernists allow interest-based loans. It may prove to be very difficult to find the actual text of the fatwa since it ...
III-AK-III's user avatar
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3 votes
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What does "doubled and multiplied" means in the context of usury in Qur'an 3:130?

This is more of a translation limitation. There is no equivalent in the English language that can be directly used in this context. The phrase in Arabic أَضْعَافًا مُّضَاعَفَةً uses what is called al-...
III-AK-III's user avatar
  • 14.7k
3 votes

Is it permissible to take commission for converting other people's black money to white?

If money laundering is a crime, then it's not permissible. Muslims are required to obey the law. O you who have believed, obey Allah and obey the Messenger and those in authority among you. ... -- ...
Rebecca J. Stones's user avatar
3 votes

The strictest school/denomination/section against usury ("interest")?

All major Islamic schools of thought hold the Quran and Hadith as the main sources to derive laws from. Allah is Himself most strictest against users of usury when He says: O you who have believed,...
Ahmed's user avatar
  • 4,039
2 votes

Difference between Riba and Rent

I'd like to answer your question using a few Hadiths: It was narrated that Abu Hurairah said: "The Messenger of Allah said: 'Gold for gold, weight for weight, like for like; and silver for ...
Ahmed's user avatar
  • 4,039
2 votes

Can I do banking job?

The answer may be yes and no. In fact apparently your answer would be depend on the part of bank where you intend to work in. I mean in case of working in relevant part jobs of the bank which are ...
Mohammad's user avatar
2 votes

Is Usufruct (where a loaned item produces something) a form of interest?

Usufruct is allowed and is not interest. Its simplest examples are that it is permitted for a farmer to rent land for cultivation, it is permitted for a merchant to use a rental horse to travel for ...
Rehan's user avatar
  • 23
2 votes

What exactly is Riba?

When one reads the Koranic references to riba, particularly Koran al-Baqarah 275-280, there is usually a reference to injustice, exploitation (ie "redoubling") and the benefit of charity. ...
Robert Hannah's user avatar
2 votes

Is this sort of business classifies as Riba?

This is called Bay' bi At-taqsit. From what I know, some Oulamas (Ath-Thawri, Al-Awzaï, Al-Albani) say that is not permitted, because they consider it Riba. But there's other Oulamas, like Malek, ...
Koblenz's user avatar
  • 169
2 votes

Is it permissible to pay off my relative's loan with interest using zakat money?

There's many opinions on this topic, so it's not possible to give a definite answer without knowing the relevant school of thought, the relationship between you and your relative, and whether or not ...
Rebecca J. Stones's user avatar
2 votes

Is being a Finance Controller/ CFO haram?

The matter is very simple: Is dealing with riba part of your work? If yes it is haram. If not it isn't. By part of your work I mean do you accept it or deal or negotiate about the interest etc. Or ...
Sassir's user avatar
  • 2,253
2 votes
Accepted

Is extra money out of love or fine over a loan regarded as Riba?

The first scenario is the textbook definition of usury or interest. all or most instances of usury are agreed in advance, but agreement in advance does not make it lawful. The second scenario would ...
The Z's user avatar
  • 9,777
2 votes

Buying a house with interest?

Islamic law doesn't preclude anyone (i.e. banks) from providing a service (i.e. assistance in purchasing a house) and making a profit (i.e. 100k) therefrom. It only regulates the acceptable means by ...
goldPseudo's user avatar
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2 votes
Accepted

Can I exchange notes to coins but for a lower amount?

A first look at evidences There's basically a difference of opinion on this topic. Be aware that we usually consider the value or amount (of money) when exchanging (of money). But the existing ...
Medi1Saif's user avatar
  • 45.6k
2 votes
Accepted

Doubt regarding Dhat al-Fudul and Interest

The relevant ahadith are: أن النبي صلى الله عليه وسلم اشترى طعاما من يهودي إلى أجل، ورهنه درعا من حديد The Prophet (ﷺ) purchased food grains from a Jew on credit and mortgaged his iron armor to him. —...
UmH's user avatar
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1 vote

Is it halal to take a student finance loan for education?

Assalamu alaikum, a) There is one type of student loan where you can pay back within a certain period, without giving any interest. This is halal if all are paid-back without any extra money (...
Kazi Nasrat Ali's user avatar
1 vote

Does buying a phone in installments involve riba, given that the total cost is more?

This is a really great question. As you will see on the following article, the majority of scholars, including the four Imaams, were of the view that it is permissible and they provide their proofs ...
Bart Marble's user avatar
1 vote

Is buying a car on installments from a commercial Islamic bank haram?

It wouldn't be much of an Islamic bank if it were haram. There are ways to make it halal, and you can contact the bank to ask for details and some Islamic banks have fatawa declaring it halal. The ...
Rebecca J. Stones's user avatar
1 vote

Is fiat currency devaluation via inflation a form of interest, making fiat currency based money haram?

According to Sheik and Islamic Scholar Imran Hossein, fiat currency is indeed haram. In his Merchants of Venice Youtube video, the sheik succesfully builds the case for including fiat currency under ...
0tyranny0poverty's user avatar
1 vote

Are late payment charges considered as Riba?

Yes it is because interest is something which companies charge which is not really their haq, and does not reflect the original price. Increasing the price of something you have already used is not ...
Zohal's user avatar
  • 2,241
1 vote

Is Usufruct (where a loaned item produces something) a form of interest?

These are two separate agreements that do not link to each other. If the horses produce a foal, then the foal's owner is decided based on the contract. If the purpose of the horses was travelling ...
The Z's user avatar
  • 9,777
1 vote

Are you allowed to use saved interest money to pay interest?

As much as i know, most of interests are riba, and apparently there might be some interests who are paid by the Islamic banks, but the important point is that the contract of Islamic bank should have ...
Mohammad's user avatar
1 vote

Is paying 25% more than you borrowed interest?

It doesn't have to be compound interest to be considered ribaa. The thing that makes this transaction impermissible is the fact that the quantities of money lent and returned differ.
Zaid's user avatar
  • 1,021
1 vote

Is paying 25% more than you borrowed interest?

The above stated situation is a classic example of Interest. It is not permissible.
Ahmed's user avatar
  • 464
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 ...
TTT's user avatar
  • 166
1 vote

Is it a sin to accept e.g. food from a relative who supports herself using riba?

This is just a thought. You do not need an Imam for you to tell you what to do in this case. You already know what to do since you say like this --> 'I can’t also deny her offerings as it will break ...
fazal's user avatar
  • 11
1 vote

Do we know if Allah prohibited all forms of riba with the children of Israel?

First of all, we can't say anything about torah or injil in their current state, how can we say for sure this is averse from God and this is not, if it was possible, some christian or jew would have ...
Zia Ul Rehman's user avatar
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 ...
dadan's user avatar
  • 26
1 vote

Is it permissible to work in a financial institution, if you work in a role that does not directly deal with riba?

The nature of riba in Islam How do you think about this issue? I need some perspective on this, but perhaps I am being too idealistic in the world we live in? NO, you are definitively not too ...
Armando's user avatar
  • 107
1 vote

Paypal charges a tax while transferring money from account to account - is this Riba?

No it is not. It's the price you pay in exchange of a service. Riba is borrowing an amount of money, and return it after in a bigger amount according to the delay.
Somar's user avatar
  • 117

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