423 fatwas

  • Taxes do not justify taking an interest-based loan from the state bank Date: 12-8-2014

    Asslamualaykum v.v. I am working in Government company.Hence i am government employee.As company offer me to give HOME LOAN of Rs.1550000/-[fifteen lacs fifty thousands] on 5-6% intrest.I also know that Riba is haram in islam,but being a government company ,every year i pay income tax+profession tax of total Rs.15000-Rs.20000/-app [per year] to government.. More

  • Facilitating a loan that involves interest is forbidden Date: 9-7-2014

    Assalam-ul-aicum. I work for a car dealer and a part of my job is sell warranty and other protection packages for a newly purchased vehicle. I am paid a commission based on what I sell. If a customer is financing their new car, and I submit their application to a bank, the dealership gets a type of referral fee. The amount of the referral fee is based.. More

  • Paying interest for late tax payment due to the accountant’s mistake Date: 7-5-2014

    Salam; I live in Canada and i have been charged an interest for filing my business tax late (due to the accountant) even though i paid it on the due date but Revenue Canada (Tax Ministry) received the amount late. I always avoid interest but this is what happened and i don't know what to do. Have i fall in Riba .. More

  • Buying gold or silver-plated jewelry on the Internet Date: 24-4-2014

    Praise be to Allah. Buying silver plated and gold plated jewelry from the internet. Not silver or gold the base is from brass. Salam Aleikom .. More

  • Taking a loan with interest to help relative pay tough debt Date: 10-4-2014

    Assalamu Alaikum, A close Muslim relative of mine is in severe financial hardship. He works hard, but has a large family and has had to borrow considerable amounts of money (without interest) from people to cover his family's expenses. But now he cannot repay his debt and might possibly go to jail as a result. I am a student in the United States and.. More

  • This transaction is a loan with Riba (usury) Date: 8-4-2014

    I intend to sell some products to clients, the clients don't have cash, but there is a lender who is willing to pay direct to us (as suppliers) and let the clients take the products then load his profit on the repayable amount. But because the lender isn't a Muslim he simply terms that profit as interest. Is there anything wrong for me to participate.. More

  • There is no 'interest tolerance level' in Islam Date: 11-3-2014

    I am interested in investing in an Indian Stock Market Called "BSE Tasis Shari'ah 50" Which they claim has the strictest possible Shari'ah compliance norms. Their Shari'ah screening includes: Business screening: Ensures that companies are carefully selected in compliance with Shari'ah and are in businesses that do not harm society per Shari'ah law... More

  • Opening a saving account in a usurious bank to get a long term house rental Date: 27-2-2014

    Assalamu Alaikum, I have been living in Stockholm Sweden with my wife and my daughter for almost a year and half now. During this period i have to rent and live at 4 different places and until now I am not able to have a secure place to live in. By secure place I mean a long term affordable house. My options are : 1- To borrow money from a bank and.. More

  • Ruling on scholarships offered by a Riba-based bank Date: 24-2-2014

    Asalam aleikum A riba based bank wants to offer scholarships for students in our area where majority are muslims, it has done this in other parts of the country also. The sheikhs in the area have met to discuss about it, some saw nothing wrong with accepting them but others preferred to make more research hence I decided to ask your opinion. 1. Is it.. More

  • A promised fixed return on investment is Riba Date: 10-2-2014

    Assalam Alaikum, I am an Indian working in Saudi Arabia. Presently I have been offered a commercial Property (Retail space in a Mall). The developer assuring me , if I pay full amount, he will give me minimum 1% of the cost of property , as rent, every month for next 15 years. If the property goes with higher rent I will get the higher rent otherwise.. More

  • Spending Riba-based interests on one’s personal affairs Date: 4-2-2014

    As-Salaamu ‘Alaykum. I gained 46,000 as interest on invested money at a Riba-based bank. Now I deeply regret having done that and want to repent to Allaah for this deed. Should I pay that amount in charity? If I do not own this sum of money now, should I borrow it? If it happens that I have this amount of money in the future, should I pay it in.. More

  • Riba-based borrowing is not necessary in such a case Date: 3-2-2014

    I am a young man who has been engaged for three years through a valid marital contract, meaning that my fiancée is my lawful wife according to Sharee‘ah. My fiancée and I were in seclusion that resulted in pregnancy. She has been pregnant for a month. Now, I want us to get married (hold a wedding ceremony) as soon as possible in order to avoid the.. More

  • The excess in price in this manner is a back door to Riba Date: 3-2-2014

    I bought a car through the Islamic bank. I asked for a sum that is higher than the price of the car in order to handle some important affairs with the extra sum of money. Is this act permissible under Sharee‘ah? Please advise. May Allaah Reward you... More

  • The bank must own the commodity for the muraabahah to be valid Date: 2-2-2014

    What is the ruling on the following form of Muraabahah: I require the bank to buy a car for me, and it asks me to bring a statement indicating the cash price of the car from an agency. After agreement over the premiums, the duration, and the rate of interest, the bank gives me a check in the name of the agency, along with an order to transfer the car.. More

  • Paying ATM card fees from bank interest Date: 1-2-2014

    Assalamu alaikum Here in india banks deduce a amount from our account yearly as a atm card fee. I want to know the ruling of using the interest money they give, for paying this fee? Pls direct me to know what can all be done with interest money in detail .. More