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78 fatwas

  • The Spread of Riba Is a Sign of the Hour Date: 20-10-2019

    Assalam aalekum sheikh I see that many people buy house on loan and they ask others to do .sheikh it is sign of end times .they buy house on loan and feel that they have achieved very great thing.how to prevent our self with the love of this world and prevent our thing from such things .. More

  • Salary Deposited In An Account With Interest Date: 1-1-2019

    I work for a NGO and my basic salary is 7447 birr ( Ethiopian birr). 50% of that money is further deposited into an account on my behalf ( provident fund, as they call it) with a small but poisonous interest (35 birr for every 1000 birr). How should I deal with that kind of money? Thank you. .. More

  • Designing AC Systems for Central Banks Date: 16-12-2018

    Alsalam alykomi am a mechanical engineer working as a designer of air conditioning systems for any type of building .My question is : is it haram to design the air conditioning system for a central bank? .. More

  • Working in Investment Banking Date: 4-10-2018

    is working in investment banking is halal their work is related to merger and acquisition, manage client portfolio, act as a intermediate between compony and commercial bank (they advice bank to issue Loan to compony or not they also help compony in issue a share .. More

  • Taking an Interest-based Loan to Study Date: 16-7-2018

    Assalamu Alaikum wa rahmatullahi wa barakatu,I live in Canada and I am currently a student at one of the universities in this country. My goal is to become a social studies teacher because there is a great need for Muslim teachers even within secular subjects. However, the issue is that I have fallen into the trap that so many students have fallen into.. More

  • Using orbit points on current account in interest-based bank Date: 9-11-2017

    Assalaamu alaykum. I am using acurrent account just to keep my money safe. I hate getting interest. I want to clarify an issue; my bank has launched a new scheme through which they give every customer some ''orbit points'' on different sort of transactions or money deposits, money deposited, using cards, doing shopping with cards, etc. according to.. More

  • Paying bank charges from interest money Date: 19-7-2017

    Are we allowed to pay our bank charges with interest money? For example, the money that the bank charges for the withdrawal of our own halal money? We do not want interest; we do not want to use it in anyway; we just want to give back their money which they give as interest in the form of bank charges. If we do not pay these charges to the bank from.. More

  • Opening account without interest in interest-based bank out of necessity Date: 6-12-2016

    Assalaamu alaykum. I have a question which I am very concerned about. In order to study at an Austrian university, I am requiered to open a bank account and deposit a large amount of money in order to get a visa, and my student dormitory also wants me to open a bank account so that they can take the monthly rent from my account. Is this considered a.. More

  • Money notes from usurious banks not unlawful Date: 19-7-2016

    Assalaamu alaykum. I live in Bangladesh. There are many Islamic Banks nowadays. Let us assume that all of them are Islamic. Nevertheless, they have to deal with the money notes of the Central Bank of Bangladesh which is a 100% interest-based bank. Some of my friends say that Islamic Banks cannot be halal because the money notes that they use come from.. More

  • Depositing money in interest-based bank Date: 6-7-2016

    I have a mudaarabah savings account in an Islamic bank, and my father has an interest-free savings account in an interest-based bank. My father gives me a certain amount of money to deposit in my account. After some days, however, he asks me to withdraw the money from my account and also asks me to go and deposit the money in his own account in the.. More

  • Interest given by commercial banks is forbidden riba Date: 4-5-2016

    This particular query is only regarding the extra money termed as interest given by banks on a savings account. I have heard people say that interest paid on a savings account is also haram. Interest given on loan is haram, but how can interest given by banks on savings be termed as haram? Here, the depositor gives money to banks, banks use that money.. More

  • Ruling on 'zero percent financing' car purchases Date: 14-3-2016

    Assalaamu alaykum wa rahmatullaahi wa barakaatuh. These days, in the UAE, car manufacturers are teaming up with a few banks to bring so called '0 percent' financing. In traditional financing, like murahaba, for example, the car manufacturer gives a discount to the buyer from the original 80,000 to 70,000, which is a 10,000 discount, and the Islamic.. More

  • 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