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Buying Shares with Interest in Pakistan
I live in Pakistan and Islamic banking does not exist here. All investments are doubtful. We have a scheme which is called the Defense Saving Certificate Scheme. In this Scheme, a person buys certificates for a period of five or ten years and then the profit is four times more.
For example if one buys shares of 5 lack rupees, after ten years he can.. More
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Taking a Loan to Repay Debts
We know Riba (interest) is Haram and is a major sin. What is the ruling for a bankrupt person to take a loan with interest if there is no other way to pay back his debts? He has loans as debts whose interest keeps on multiplying. Can he take this loan with interest to pay all this back or else what should he do?
.. More
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Why Usury is Prohibited
Why mark up (usury) is prohibited in Islam.
.. More
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Accepting gifts and cash from donor whose income is from bank interest
Can I accept and use the gifts and cash from my grandmother whose only source of income is bank interest? Please advice what Islamic law says about this... More
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Investment bonds
Is the interest from bonds considered Halal or Haram?.. More
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Family Dealings With Usury Banks
My father has two sons and I am the younger one. My father shares a business with his partner who has one son. Our family are not practicing Muslims. As a matter of fact, my father and his partner have accounts in non-Islamic bank that deals with usury with its consumers. I asked my father to shift his account to an Islamic bank and once he talked to.. More
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Riding in car purchased with Riba
Can I drive my friend's car or let him pick me up, if I knew that he bought his car with interest (Riba)?.. More
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Bank Loan to Buy a House
I work in a bank and I can get a loan for a house at a preferential rate. In my country there is no Islamic bank. I want to be independent and I do not want to be near my brothers and their families. Can I take the loan?
.. More
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Taking Bank Loan to Buy Household Items to Marry
This is urgent. I am getting married in 5 weeks, Insha Allah. I have to buy essential furniture, e.g. bedroom set, sofa, etc. The problem is that I do not have enough cash to buy it and do not have a credit card. The only way I can buy this furniture is through getting a personal loan from my bank which charges interest. I know deep in my heart and.. More
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Bank Account and Spending Mixed with Interest
I have an amount of money in a western bank. Usually, I cut my 2.5 percentage Zakaat from the total amount. I have been doing so for a long time before I knew now that the interest is forbidden. Please explain my situation. Furthermore, I spent some money mixed with interest on my family, bought a house, and went to ‘Umrah before I knew that interest.. More
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Living on interest from bank deposits
I've read about considering banks interest as Reba. And I'm asking you to give me clear vision on this issue that would help me to make the right decision, Insha Allâh. Banks in Egypt claims to give varying interest which is around 9.5percentage: 10.5percentage these days. I'm not sure if the bank invests all its money in loans with fixed interest.. More
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Bank Loans
Are banks loans really prohibited by the Quran?
.. More
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Bank prizes
Mashreq bank (www.mashreqbank.com) has a interest free saving scheme called Mashreq Millionaire. Under this scheme one does not get interest but is eligible for a prize. You can get details from their web site. Should one hold these certificates and if yes are any winnings from this Halal?.. More
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Location of Islamic banks in the US
Could you tell please if there are banks in the United States (New Jersey state) that give loans without interest (i.e., agree with Islam) to buy a house?.. More
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Bank Profit or Riba
I have deposited some money in one of Syria's banks and as I heard that the bank is lending money to people as a business wise. The bank is paying its customers some profit by using the customers' money. I asked some people; who told me that the profit is (Haram) because it is (Riba). Please give me the right answer because I do not want any (Riba).. More
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