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6 votes

Is interest entirely haram or can there be exceptions under neccesity?

As you mentioned in your question ,verses and hadiths which prohibits usury .. After I asked a Sheikh, he told me to try as much as possible to stay away from usury, and do all what you can to do so. ...
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5 votes

Is indirect help to a riba business haram?

Now the point is as follows as long as you don't have direct deal with riba your earnings are halal. But if you somehow deal or help for riba business your earnings are haram. This means if you don't ...
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  • 43.8k
5 votes

By the Quran or the Prophet's words only, may Riba be produced?

As mentioned in OP, those who devour riba are clearly condemned; the Qur'an is very clear on this when it says "…Allah has permitted trade and has forbidden riba……". The Qur'an ...
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  • 12.1k
5 votes
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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 ...
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  • 14.4k
4 votes

What to do with the Riba (interest) money?

As far as I studied some well-established reference, and discussed with some scholars (yes, they are hanafi), (i'll update my answer asap i get hold onto related on-line reference) if you have no ...
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  • 448
4 votes
Accepted

Is it Haram to work in Banks?

I used to work in them myself but the truth is, whether you deal with interest directly or not, you are aiding and facilitating it- It is haram 'Abdullah bin Masud and Jabir bin Abdullah both ...
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  • 56
4 votes

Is it Haram to work in Banks?

The only problem with present day banks are the interest/usury (riba) that is involved. If you have no direct involvement in any riba transaction, then it's fine to work there. 'Abdullah bin Masud ...
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  • 5,348
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. ... -- ...
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3 votes
Accepted

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-...
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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,...
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  • 3,959
2 votes

Drawback of interest economically

One of the most apparent drawbacks of interest based economy is that it enables accumulation of money in the hands of few people. Interest also decreases purchasing power of money and causes inflation....
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  • 704
2 votes

Is interest-based educational loan allowed?

Short answer: No, and there's no exception! Explanation: As Abdullah mentioned in his answer riba (interest/usury) is a major sin and in fact it's one of the 7 distractive sins along with Shirk (...
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  • 169
2 votes

Is interest-based educational loan allowed?

Salam O Alikum, Perhaps too late to answer this question, but I ll add this just in case someone else might benefit from it. I know of some brother who actually found a way around it. When you ...
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  • 129
2 votes

Is it permissible to use cash-back credit cards and accounts?

Firstly, you should notice that working or getting every money which is related to Rabawi transaction is considered as a haram practice. But in other cases which is not related to Rabawi transaction, ...
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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 ...
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  • 3,959
2 votes

Difference between Riba and Rent

The basic difference Riba and rent is that ... In the case of Riba, the commodity which you were talking about is money, and in the case of rent, the commodity is property. So, profit obtained by ...
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2 votes

Is crowd-funding Halal?

Yes, crowd-funding is halal (as long as the target activity is halal). In fact, Muslims have been doing this for ages for building masjids, bridges, roadways and other public goods. Even LaunchGood, ...
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  • 704
2 votes

Zero Interest is causing me more harm than riba, is it the right choice?

I do not need to give detailed references here because I think this is not just about Islam but also about personal finance and money. I will try to be very frugal in my response and I mean no ...
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  • 121
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 ...
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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, ...
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  • 159
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 ...
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  • 23
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 ...
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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 ...
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  • 2,217
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 ...
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  • 8,760
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 ...
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  • 12.1k
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 ...
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  • 43.8k
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. —...
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  • 23.2k
1 vote

Is eating food from person who receives or pays interest haram?

As far as I know, if the person whose income source is riba, invites you to eat food, then, it is ok. Even taking gift from Kafirs are acceptable.
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