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View By Subject 37 fatwas
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Debt rescheduling for increment is clear Riba
Salam Alyquom, I bought a bus from a friend and he financed it on 10 years with 9% charge on the original price ( the original was 120,000.00 and will be paid as 182,000.00 over 10 years)we have to write the words interest to be legal in USA.Then I bought a house from the same friend for 180,000.00 to be paid on 10 years withe 7% interest. No late.. More
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A society giving loans on a fixed profit basis
Assalamu Aleikum, Dear shaik please give me a detailed reply to the following question. We have a society they give loan to businessman on condition that at the end of three months they must give 1/3 of the profit and the loan.To grant the loan the socity demand gurantee of four members of that same society. In case the buseness incured a loss the gurenter.. More
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Has to pay back his loan in addition to half of the crop of his land
I HAVE SOME LAND. I BORROWED SOME MONEY FROM ONE PEOPLE. I GIVE THE LAND AS SECURITY. I HAVE TO PAY THE MONEY AND 50% OF THE CROPS OF THE LAND THAT I GROW CROPS. ANY PROBLEM REGARDING INTEREST? THNAKS.. More
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Riba is the reason for every calamity
Asalaamu'Alaykum,
I have read your Fatwa no. 85223. Can you please clarify further:
I bought a house through mortgage and as you know, the house does not belong to me until the mortgage has been paid in full. In fact the house legally belongs to bank because it can be repossessed by the Bank if anyone defaults on mortgage although it may be in my.. More
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Took a usurious loan to buy land thinking it was a necessity
Assalamu Alaikum Wa rahmathullah...... I have bought a land adjacent to my home in order to open a way to the public road and for other uses from one of my neighbours with a coast of RS 200,000 bank loan and i paid back the money to the bank RS 250,000 eg SR 50,000 interest. I was aware about the interest and i did it in a compulsory situation eg: 1... More
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Increasing the installments of a house in return for delay in payments
Assalam Alikom, I have asked about how a contract should be set up if someone wants to buy a house in the West from a financial institution. You said if the bank bought the house first, then sold it back to me with a mark-up it is halal. My question is: do the installements have to be equal throughout the length of the sales contract? You see, financial.. More
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The one who accepts interest and the one who pays it are cursed
This is regarding interest or bank loans. Not a single verse in the Quran states that giving interest is Haraam. It is only for taking or eating, not for giving. Even the Saheeh Muslim Hadeeth which is quoted (No. 1597 and Hadeeth No. 1598) talks about the one who eats, one who writes and one who arranges (agent). The Arabic word is Mu-ke-Lahu,.. More
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The difference between Ribaa and Haraam
Can you help me to differentiate between Ribaa and Haraam? .. More
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Investing money in government projects in return for fixed profits
Is it permitted in Islam to invest foreign money in the government wage earner scheme and take the specified rate of interest declared by the government? Is it sin like all other interest based banking project? .. More
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Any loan that produces profit is Ribaa
I want to ask you about a very serious issue which has caused a lot of destruction in the past in my family between the two sisters. My khala's husband took 8 lakh from my father within different passage of time making 3 to 4 years. My mother is a kind hearted woman who told her husband that her sister is in need and she kept on giving money to.. More
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Defining usury
I heard in a lecture a trustworthy Shaykh saying that any money received for nothing in return is usury (Ribaa). Is this true? If that is the case, what is the ruling of retirement and social security or what some companies give to their employees so they quit their jobs? .. More
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Purchase agreement based upon interest
If I purchase an item, on interest-free for three years but have to pay interest after that and know that I can pay it off in less than a year. Is such transaction permissible?.. More
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He believes that interest is lawful
I am writing regarding bank interests in regular banks. I have read a lot regarding various fatawa issued by credible scholars in the Islamic world. Some of them allow these interest (halal) and some other prohibit (haram) such dealing. I am bouncing between the two. I am personally convinced that it is not haram. My conviction become stronger when.. More
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Dealing in interest (Riba) in enemy lands
What is the consensus of the four schools of thought about dealing in interest (Riba) in enemy lands (Dar al-Harb)?.. More
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There is no Hadith that permits Riba
Is there any Ayah in the Qur’an or any authentic Ahadith that says it is permissible to obtain Riba or that certain things in which Riba is involved is permissible... More
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