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View By Subject 431 fatwas
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Investing money in government projects in return for fixed profits
Is it permitted in Islam to invest foreign money in the government wage earner scheme and take the specified rate of interest declared by the government? Is it sin like all other interest based banking project? .. More
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Getting a loan with interest to reduce taxes
I am living in India. I have to pay very high taxes every year. This amount is deducted from my salary and I have no control over it. I have no house of my own. But if I take a home loan then I can reduce this tax. So do I keep paying high taxes every year with no benefit or take a loan and reduce the tax. The tax which we pay are misused.. More
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Tawarruq through Islamic banks
What is Tawarruq? Is it allowed? Actually some of the Islamic Banks are following this methodology for offering the loans to their customers. For example, if somebody needs a certain amount so the bank is asking to them to purchase the metal, other than gold, on installment. Of course with the profit to the bank. Then they are facilitating.. More
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Giving certain monthly percentage depending on the deposit amount
I am living in Istanbul, Turkey. We have few financial organizations here who claim to be performing Islamic interest-free banking, though they pay extra money for your deposit.
Now, I wanted to put some money in such an interest free financial organizations and so I went to one of them and discussed with the manager about their work system... More
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Dealing in Ribaa to avoid taxes
I am working in India, we were strictly avoiding interest payment or receipt, but some parameters made us rethink which are as follows - I am paying approximately 25% of salary as income tax, being a joined family there is no saving. Government gives concession in income tax on savings and specially for home lone - principle amount as well.. More
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His company offered him to buy a car by taking loan from banks
my husband is working in an international company in Egypt. i don't have a car and I am using the company car.he has been promoted last month and they offer to him to buy a car by taking loan from any bank and they will give me the amount of the car loan with my salary divided on 5 years as i take the money from them and give it to the bank. If.. More
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Taking an interest based loan to pay one's debts
I purchased my new appt/home since 4 years on monthly installment payments to landlord and when ever I couldn't pay the monthly payment I use to loan from friends and family.
Today after 4 years I am done with all the house payment but two obstacles I have now to pay loans I took from family and friends and I have soon register this house.. More
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Interest free mortgages through an English bank
I would like to buy a house and I've heard that there is English bank called HSBC that does interest free mortgages based on Sharee'ah principles. I would greatly appreciate if you could clarify this matter on whether it is Halaal or Haraam? .. More
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Any loan that produces profit is Ribaa
I want to ask you about a very serious issue which has caused a lot of destruction in the past in my family between the two sisters. My khala's husband took 8 lakh from my father within different passage of time making 3 to 4 years. My mother is a kind hearted woman who told her husband that her sister is in need and she kept on giving money to.. More
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Islamic branches of usurious banks
What is Islam's opinion about the Islamic branches of the commercial banks? As some commercial banks like Doha Bank, Commercial Bank and Qatar National Bank have opened some Islamic branches who deals with Sharee'ah rules. Please feedback me as soon as possible. .. More
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Buying a car through an Islamic bank
Can you advice me about taking a car through Qatar international Islamic bank? I have an account with them and wish to take a used car. I was told that they are not taking any Ribaa... More
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Bought a car through a bank loan
I am living in Norway, I have buy a car for taxi work. This car cost 491000 Norwegian Kroner. I have pay 190000 Kroner. The rest of the money I will pay in 5 years, every month. I didn't discuss with the bank how much I will pay every month they send me invoice. I have calculated the invoice for 5 years and I am paying 50000 Kroner and maybe.. More
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Non-Muslims opening accounts in Islamic banks
Can a non-Muslim opens a bank account in an Islamic bank? .. More
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Working in a bank with an Islamic division
I have recently completed my MBA and am applying for jobs. I have an offer from a local bank which also has an Islamic Division. Is it lawful to join a bank or any Islamic bank? I am confused and would appreciate an urgent reply, since I have to submit my Willingness/Unwillingness in few days time. .. More
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Needs to deal with international bank
I am an employer in a Dubai based company. But I will have to work in an African country. I want to start an account in international bank which deals with interest. I do have an account in an Islamic Bank. But the service of this bank is not available internationally. If I draw money from another country, they charge considerable money. Is it.. More
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