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81 fatwas

  • The need to open an interest-based bank account in a non-Muslim country Date: 26-10-2015

    Assalaamu alaykum dear brother/sister. I face the following dilemma: I live in a non-Muslim country. I am starting my own company and am in need of a business bank-account for money transactions. However, banks pay out interest money on these accounts. I want to stay away from this. They do however have the option to automatically donate the money to.. More

  • Depositing money in a current account in a usurious bank Date: 15-4-2015

    In pakistan, there are mainly 02 types of accounts that can be opened in a bank, saving account and current account.In saving accounts, we get riba on our deposits. Where as in current account types, the account holder do not get riba but the money in his account is used by the bank for getting ribaOne of the current account types is the account known.. More

  • Ruling on opening a current account in a Riba-based bank Date: 10-10-2014

    Asallam u Alaikum, I keep my money in Barclays Bank in the Uk and don't take any interest as it is a current account to keep my money safe. I have heard there is no bank here that is completely interest free(even the islamic bank). Recently I heard this bank where I keep my money is a major shareholder in an Israeli arms company(I'm not sure if this.. 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

  • 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

  • Ruling on accepting gifts from a Riba-based bank Date: 1-11-2013

    i have a savings bank account and i dispose off the interest given by the bank. But bank also gifts its customers a yearly calendar, dairy or wallet, can i take it? If not ,then what should i do with previous gifts? .. More

  • Impermissible to cooperate with a Riba-based bank Date: 11-8-2013

    dear brother, we are solar energy company in pakistan. can we sell our product to a bank and then bank further finance on installment to his customer. Selling and marketing is on bank and bank will charge margin for its services and leasing. We will not involve in financing, we will install solar at customer home and bank will make us full payment one.. More

  • Ruling on cash back on a debit card Date: 28-3-2013

    I have a savings bank account in a riba-based bank in India (Please note that their are no Islaamic banks in our country and I have read about the ruling on this issue).I take the interest from the bank and give the compelete amount in charity. If we use banks DEBIT card we get: 1% Cashback on all purchases. Re. 1 back for every Rs. 100 we spend. Is.. More

  • Cheque cashing from a non-Islamic bank Date: 23-10-2011

    Assalamu alaikom, I would like to know what is the ruling on cheque cashing from a non-Islamic bank if no Islamic banks are available.There are ,however,small businesses that provide this service as well for a fee.What is the better alternative islamically? I would also like to know whether it's true that a cheque should only be cashed from the same.. More

  • Your taking a car loan has nothing to do with your income Date: 9-10-2011

    Assalamualeyikum, I have taken an auto loan for my car & i pay EMI per month which has two portions - Principle - Interest I didn't had capacity to purchase a new car so i took loan, Is it allowed? Also e.g. if i am earning 50,000 & paying 2,000 as interest per month then will my entire 50,000 would be considered as haraam? does this means.. More

  • Taking a loan from a Riba-based bank to start a business Date: 26-12-2010

    Assalamu alaikum! I am a nigerian working with an interest base bank, i tried hard to get another job but all my efforts are in vain,is it permissable to apply for loan from same institution which I can use to start up my business? Allah bless... More

  • Took a bank loan and did not repay it Date: 23-12-2010

    Al Salaam Alaykum Wa Rahmatoullah I would be grateful if you could kindly give me an answer on the following issue. I took a loan from a bank six years ago, without knowing anything about what in sharia we call Riba, and I paid some instalments. After few months, I left my job and took my savings, including the loan money, abroad to get married and.. More

  • Taking an interest-based loan to buy a bigger house Date: 20-4-2009

    Respected Brother, my question though seem to be common but I want to get the true verdict in this regards. I am having a house which is just a single room at Mumbai, India. This single room has self contained kitchen and a bathroom. In big cities like mumbai, people get contented with such small house. I am working in qatar. back home my mother.. More

  • Dealing with Riba is forbidden for Muslims and non-Muslims Date: 15-4-2009

    salamou3alaikoum, im married to christian women, and she want to bay a hous throught a bank lone, i told her that i cant do that since im a muslim. but she suggest that she will bay the hous with alone from the bank , and she will sel me the half of it without any rent, that meens that , we make a contract betwin me and her that says exactely how much.. More

  • Needs a bank loan to improve his financial position Date: 20-2-2008

    assalamualaikum, thank you for giving us the chance to ask about fatwa. kindly pay attention to the fact that my inquiry is a bit complicated and needs to be examined in depth as it involves a dicision affecting both principles and career. -i live and work in cyprus since 1985. -i intend to develop a piece of land that i have. -i am a building contractor.. More