Dear, I would like to know the difference between interest and profit. can you please clearly distinguish the two for me.
Es selamu alejkum! I want to know if it is forbidden to borrow money from a bank without paying interests for it. Jazakallahu hajren!es selamu alejkum
Salaam Brother..I am student in UK pursuing my masters in Investment and Finance..I reside in Saudi Arabia and intend to return back after my studies.. What i wanted to enquire is since ill be working in the banking sector, is working in banks haraam and above all is the Saudi Stock market haraam,,as all the world markets are haraam as thy are based on speculation..If i work in an investment bank, will all my earnings be haraam...Jazaak Allah
salam... Is buying lands and houses, by bank loans wich include intrest, considered halal in all cases? (like someone well off but wishing to expand his fortune for later generations).. and if not, would inheriting be haram as well?barak Allah feekom.
Asalam Aleikum My Mother bought shares in a non-islamic bank, before we knew it was haram? Now we know it is, how do we go about rectifying this sin? Just selling the shares?thanks for all the work you are doing. We are learning a lot
Respected scholars, as-salamu `alaykum. In Australia, most members of the Muslim community are purchasing cars and homes through commercial bank loans and mortgages. This is justified in two ways: First, one has no option in a Western country that does not have Islamic banking - and hence you need to borrow to be able to acquire a car and a home. Second, the prohibited interest refers to excessive interest over and above an acceptable rate (usurious rate). Interest at or below the average is acceptable. Please comment on the above, especially on the notion of interest and riba in Islam.also, please comment on what riba encompasses (interest, excessive profiteering, etc). Jazakum Allahu khayran.
As-Salamu `alaykum. This question is from a Muslim sister who adopted Islam recently. Her question is regarding riba in Islam. I know that it is haram to consume riba or interest, however, is it considered haram if one is working in a bank or post office that deals with interest? The sister is a student and is working in the post office during the summer and she is concerned about this question. Is it permissible f or her to work there on a temporary basis?
I have been working in Dubai for almost three years now and I have bought a house in Sri Lanka. The deal, however, was made through a bank, which gives loans on interest. Is such a deal permissible in Islam?
Dear scholars, As-Salamu `alaykum. I was wondering on the Islamic ruling of opening a bank account. Must it be in an Islamic bank or not? What about any interest I receive in my account: should I simply discard it or can I use it for personal use or should I spend it on more needy Muslims? Jazakum Allah khayran.
As-Salaamu `alaykum. Is it permissible to work in a non-Islamic bank in the technology support department? I am living in the U.S., and I am working in an interest-based bank. I would like to leave. Everything has become associated with Riba. Jazakum Allahu khayran.
Dr. Monzer Kahf, a prominent economist and counselor states:”I believe that working in a conventional bank is not Haram. What is Haram is to write, sign or be a witness of a Riba contract. Working in the IT department is not part of this. Going for Hajj is InShaAllah ok and will be acceptable by
I am living in United States and I have a bank account. I don't take interest but just I am thinking why should I leave that interest money with bank, why not I use it to give Sadqah to poor people. Is it permissible to use bank interest in Sadqah?
Is it permissible to accept donations from usurious banks to support charitable projects?
As-Salamu `alaykum. I work for a bank where I encode checks. I want to know whether my earnings are halal or haram?
Dear brothers in Islam, As-Salamu `alaykum. Can I accept a gift or eat food from people who gained some of their money in a haram way such as from commercial banks? Jazakum Allah khayran.
Could you please furnish me with the wisdom behind the prohibition of Riba? Your earliest response will be very much appreciated.
We are involved in an environmental project in which we give bank guarantees for the investors. We tried the only Islamic Institution (Amana Investments) in Sri Lanka to get the guarantees with 100% cash collateral, but very unfortunately they refused without any valid reason. Since we are in a non-Islamic country can we go into a state bank to issue guarantees as security for the investors? Because to get investors to this project we are forced to issue a bank guarantees as a security. Please do advice.