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85 fatwas

  • Bank prizes Date: 6-5-2002

    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

  • Buying Houses in UK with Mortgage Date: 23-4-2002

    A lot of my friends bought houses with mortgage in UK, and they said it is Halal. Is that correct? .. More

  • Bank accounts with interest Date: 20-4-2002

    What is the Shari'a rule about using bank accounts with interest for a Muslim living in the West? Can I take the interest and give it to Islamic causes or should I leave it in the bank?.. More

  • Purchased house on Riba Date: 5-2-2002

    I have a specific question regarding bank loans. I have looked through all the questions and answers on your site regarding this issue. My parents took a bank loan 21 years ago to buy a house. We live in Europe. However, 21 years later they are still paying since they pay the interest. Practically they have already paid the value of house. It never.. More

  • Renting a Building to a Riba Bank Date: 31-1-2002

    Is it allowed to rent out a building to a non-Islamic bank which collects interest? .. More

  • Dealing with Banks Date: 29-1-2002

    1) Is medical insurance Haram or Halal? 2) Is the transaction with banks Haram or Halal? How can we solve this issue as life is changing, and without banks that are free from of interest, business is very hard and Islamic banks are not everywhere? On the other hand, sometimes you might pay fees to banks for many transactions. So what is the ruling.. More

  • Getting Money from Bank to Buy House Date: 26-1-2002

    Getting money from Italian banks to buy a house. .. More

  • Buying house on mortgage Date: 15-1-2002

    I live in Ireland and I would like to by a house though a bank mortgage, I would like to know the conditions that have been released by the European Islamic committee which I believe has a good knowledge about the difficulties in living in European countries... More

  • Wanting to buy house with interest Date: 13-12-2001

    I have a question about buying a house. Situation: I live in Holland, two of my daughters study dental medicine in a city two hours away from our house. They spend daily four hours traveling. It's very difficult to find a rent house and to pay it. The girls refused to borrow money from the university, because of interest, following your Fatwa before. I.. More

  • Free shares from a bank and how to dispose of them Date: 20-11-2001

    I live in England, I have a bank account which gave me some free shares. I've had these shares for a number of years, the price has changed regularly. I've never sold them or benefited from them financially, but I've begun to consider whether I was required to pay Zakah on them. If I pay Zakah on them, do I pay Zakah for all the missed years since.. More

  • Buying house on installments with interest Date: 18-9-2001

    I am Muslim living in Canada. I am interested in buying a home but I cannot afford to pay the full amount in cash. The only way available for me is to buy on monthly/weekly installments. But these installments contains interest in it. I understand that interest is Haram, so what is the option available for me in this case... More

  • Opening an account in a bank in a Muslim country Date: 11-9-2001

    I want to open an account in a bank. In my Islamic country, there are two types of account, one gives you interest on your money per month (faeda) and the another without any (faeda). Can I open the first type and direct this interest to any Islamic cause, not as sadaqa or Zakah, as a gift? Or should I avoid this type of account and make only an account.. More

  • Bank Interest Date: 11-9-2001

    I want to ask you about bank interest: is it Haram or Halal?.. More

  • Buying House on Riba- Loan to Leave Non-Muslim Country Date: 5-9-2001

    A brother is married and he has 6 children, he has just had a heart operation, he and his family live in a non-Muslim country. He wants to go back home but he does not own a house for his own family. He does not have enough money to buy the house, he has tried several ways to get the loan needed but at last nobody would give him the loan needed, so.. More

  • Fixed Deposits in Banks Date: 27-5-2001

    Is keeping money in banks as "fixed deposit" acceptable in Islam or not, because it generates and doubles the amount one deposits after a period of 5 years? This involves no risk at all and Islam says where there is no risk its "Haram". Please confirm this matter. If I want to deposit money as fixed deposit and after 5 years I withdraw double the.. More