1. I am an engineer working for a private American consulting engineering firm that is owned by 6 partners. The company designs construction plans for projects such as highways for public clients and residential developments for private clients. The company does not do construction. The company pays me a salary like other employees.As part of the benefits of advancement in this type of company, the company gives bonus money to the good employees. The company can keep a portion of my bonus money and put it towards ownership of the company to allow me to become a small partner. Since this is an American company, sometimes they buy equipment like computers or cars with loans and pay interest. The company also has a line of credit with a bank which means when the company does not have enough cash flow to pay the salaries of the employees in a certain month or week, they borrow from the bank and pay it back with interest.Is it halal for me to become a partner in this company with the bonuses they save for me? Is it halal to become a partner in this company if I purchased a portion of it with my own money and without the bonuses they save for me?
Respected Scholars, As-Salamu `alaykum. I would like to know whether I can pay my annual income tax with the interest I get on my saving account. Jazakum Allah khayran.
Dear scholars, as-Salamu `alaykum. My father has taken a loan on interest, as we have no other means available. We have property but are not willing to sell it. I am a doctor, and in sha’ Allah I will be earning in a couple of years. Someone said that taking a loan in a non-Muslim country is permissible. Is that right? Jazakum Allah khayran.
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?
As-Salamu `alaykum. I have sold a property with interest. I wanted to contribute it for building a Mosque, but lately I have learned that this money is haram. What shall I do?
As-Salamu `alaykum. I have been thinking to set up a company where I can provide interest-free mortgages to the Muslim Ummah. I have spoken to some people and they told me it would only work if a house could be bought for the lender and then rent it to him till he pays up the whole loan. Obviously, I need to look into the future value of the property and also I would like to make money so I can help other people. Could you please guide me, how this type of system can work in the west so I can start something quickly. I know there are so many needy people out there and I would like to help them.
Are Muslims allowed to take interest that banks pay on their money? As we know, banks in US pay interest, so what should Muslims do with the interest ea rned on the money they keep in these banks?
I would like to know about Riba or usury in Islam. Allah Almighty says in the Qur’an that “those who devour usury will not stand except as stands one whom the Satan by his touch hath driven to madness.” (Al-Baqarah : 275). The Qur’an describes the grievous sin of dealing in usury by describing those who deal in it using the word ‘devour’, what about a victim of this action? Is it similar to devouring usury or it is not sin? As a Muslim I can't run away from taking a loan from bank, as we know that bank will charge us an interest. Are we sinners or not? And how can we escape from such bad dealing that is prohibited in Islam?
As-salamu `alaykum. Suppose that I have a bank where I save my money. The problem is that they put interest money into my account. I know to receive or give interest is forbidden in Islam, but I know that I can take out the money and use it for other purposes. I believe I can't donate to the mosque, but please confirm this. Can I give it to the following: (1) orphanage school, (2) p oor people, (3) a person who is indebted? Can I add some of my own money to the interest money to feed the poor? What if the interest money is so much that I can feed 100 poor people—can I use it for that purpose? The reason I don't want to give them in cash is because I have the fear that they might use it for the wrong purpose.
Bismillahirrahmanirrahimassalamu aleykum wa rahmatullah Dear ALL, We have got such a situation here,the question is related about what kind of service a company can provide to banks in Azerbaijan, since there is no islamic bank here. First of all, banks in Azerbaijan has two kinds of function. First, customer service of cash withdraw or etc. Second, credit and loans (RIBA).therefore the issue of banks creadit and having interests making us think about what kind of service can we provide to them, since we have companies and organizations too. Some banks are requesting our services. For example, we have a large company, under this we have got ofice furnitures stores, audit and accounting services, other sales stores. If we assume that any bank wanted to get one of ours services, can we offer them any of our services? Is it halal? Or is there any conditions and rules?The other question is, if a person got an offer to work only in bank, but not in a credit section, but in customer service section (cashier), is it possible?