409 fatwas

  • 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

  • Legal Transactions of Islamic Banking System Date: 28-6-2001

    Is the Islamic rulings about the profit taken by the Islamic Banking System, if we take loan to buy something, the same as the interest taken by other banks? As per the Islamic Banking System, it is said that they are buying something and selling it to the person taking the loan with a specific profit. Please explain. May Allah Almighty reward you for.. More

  • Repaying Study Expenses and Interest Date: 11-6-2001

    I am a Muslim student living in Holland. Next year I'm going to study dentistry, Insha Allah. I'm very motivated and I'm, Alhamdulillah a very good student. And now I've got a very urgent question and would really appreciate if you could give me a quick answer, if possible. Here in Holland it is very expensive to study and so the government pays for.. More

  • Marriage plan may include Riba Date: 30-5-2001

    I am working as a Electrical Engineer (Diploma) supervisor 28 years and ALHAMDULILLAH earning a salary but it is not so enough for me to buy a house and also manage my mother and brother along with in the present high household expenses. Also I (We) don't have any property or enough money for spending on marriage celebration and giving MEHER to my groom... 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

  • Student Supported by Father's Income from Bank Date: 24-5-2001

    I am a student in UK, my father is paying my college fees but he is working in a bank. As I now it is Haram to work there. Is it Halal for me to study in this way? .. More

  • Financial Institutions Mixing Islamic Practices and Riba Date: 29-3-2001

    What is the Islamic ruling about the bank or finance company that deals with Riba and Islamic practices? .. More

  • Good Deeds Done in a House Purchased by Riba Transaction Date: 27-3-2001

    Is it true that all the Sunnah deed e.g. reciting Qur'an, Sunnah, prayers, etc. that we do in the house we purchased through Riba transaction will not be accepted by Allah (s.w.t)? .. More

  • Bank loan Date: 15-1-2001

    I am a businessman. I would like to know if I can take a loan from the bank to promote my export trade, otherwise I cannot compete with traders in the same field who have much more finance than I?.. More

  • Inherited business having bank dealings Date: 6-1-2001

    If you inherit a company from someone and the company uses bank money which deals with interest and you cannot stop that, and are unable to go to an Islamic bank for some time (say 4 years) should you close the company, sell it, or keep it until you can change to an Islamic bank?.. More

  • Bank loan Date: 6-1-2001

    I am an Arabic citzen. In my counry when you want to build a house, you can ask for a loan from the bank. When you receive the money, you receive an amount less than you requested, but when you want repay the loan, you pay the original amount you requested. For instance, if you apply for a loan of 30,000 dinar, you will receive only 25,000 dinar, but.. More

  • Borrowing from bank to buy a house Date: 3-1-2001

    I am a converted Muslim. I have money invested in my home country and earn interest on this money. I have a young family. I am saving to buy a house for the family when we return home. I do not have enough money to buy a house; can I use the interest to help with the purchase of the home? There is no way in my western country that a single income.. More