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195 fatwas

  • Using interest to pay a usurious loan Date: 31-1-2007

    Salam, I owe $8500 in student loan and i have to pay 3.9% interest on it. I am trying my best to pay it off as soon as possible in next few months. I had some savings bond that I cashed after I learned I should not buy saving bonds. I received $1500 in interest. I would like to pay part of my student loan with this $1500. Is it wrong to use the $1500.. More

  • The profit one gets from selling an item he sold with interest Date: 25-12-2006

    Assalamu Alaikom Warahmatullahi Wabarakatoh. The question is regarding usury and its "kaffarah." Given the following scenario please advise on whether this is forbidden or not and if it is forbidden how can one repent. A man deceides to buy land and build a house upon it and then sell the house as an investment. He then invests 100K from his own money.. More

  • The poor receiving interest money as charity Date: 1-8-2006

    assalamu alaikum inn ur fatwa no 91853 u hav mentioned dat one can withdraw the interest money n spend it on poor...but once u withraw d money ur name name will be registered in the people who has taken interest money....also a muslim shud not prefer something for others wat he doesnt prefer for himself.... pls explain.. can we lent our house on rent.. More

  • Avoiding financial dealing with someone whose earnings are forbidden Date: 20-2-2006

    In your Fatwa 85295 "It is safer to avoid financial dealing with one whose wealth is a mixture of Halaal and Haraam" you advised the sister to avoid tutoring the banker. My question relates to Fatwa 90517 "Interest free mortgages through an English bank", where you quoted a Hadeeth related to the Prophet, sallallaahu alayhi wa sallam, and his companions.. More

  • Getting a loan with interest to reduce taxes Date: 30-11-2005

    I am living in India. I have to pay very high taxes every year. This amount is deducted from my salary and I have no control over it. I have no house of my own. But if I take a home loan then I can reduce this tax. So do I keep paying high taxes every year with no benefit or take a loan and reduce the tax. The tax which we pay are misused.. More

  • Dealing in Ribaa to avoid taxes Date: 23-11-2005

    I am working in India, we were strictly avoiding interest payment or receipt, but some parameters made us rethink which are as follows - I am paying approximately 25% of salary as income tax, being a joined family there is no saving. Government gives concession in income tax on savings and specially for home lone - principle amount as well.. More

  • Taking an interest based loan to pay one's debts Date: 14-9-2005

    I purchased my new appt/home since 4 years on monthly installment payments to landlord and when ever I couldn't pay the monthly payment I use to loan from friends and family. Today after 4 years I am done with all the house payment but two obstacles I have now to pay loans I took from family and friends and I have soon register this house.. More

  • Permissibility of retirement funds Date: 1-6-2005

    My husband was working in a bank that allows (Ribaa), now he is unemployed, could you tell me if the money that he receives and spends from (Ribaa) as a retired person is Halaal? .. More

  • Father deeply in debt using credit cards to buy his mother a house Date: 13-4-2005

    My father borrowed money from various credit cards, because he had to purchase a house for his mother in Pakistan, since she is alone there with her disabled daughter. Now he has so much to pay back with the finance charges. My father asked a lot of his friends for some amount of money until he could pay the debt back, but every one refused. I.. More

  • Profit from sale of property purchased with interest-bearing loan Date: 10-4-2005

    In the UK, they have a system, whereby people who do not have a big income can purchase a portion of the house (normally 50%). The other portion of the house is then rented to the buyer at a discounted market rate. The Government subsidies the rent. The other portion of the house will still belong to the owner of the building. (This.. More

  • Bought a car on credit before becoming a Muslim Date: 28-3-2005

    I have just become Muslim 11months ago Al-Humdulillaah, but before that I took a loan from a bank and bought a car. I am finding it difficult to pay the repayments to the bank £8000 and do not know what to do. I have been advised to sell the car to pay back the loan but I won't get more than £3000 for it. I use the car for work and taking my.. More

  • The profit from the sale of a house purchased by a mortgage Date: 16-3-2005

    Please answer my question as it worries me quite a lot and we haven't been able to find an answer in the books we read. About four years ago we bought a house on mortgage. At that time we did not know that mortgage was Haraam. Later on when we found out we sold the house and bought another house from the profit we made by selling the house... More

  • Prizes given away from visiting a website Date: 22-2-2005

    At times when I visit some websites they declare that I have won a prize for being the 100,000 or 1,000,000 guest on that site, and they offer a holiday cruise in Florida with cash prize of about 2,000 dollars, is it permissible to accept this travel offer, or the cash offer, or both... More

  • Father works in a bank and shares a house with him Date: 25-1-2005

    My father works in a bank and we share afamily house with my parents. I have advised him many times to look for another job but he refuses. Do I take my wife and kids and move far away from them? Or do I live close by. I am scared that my kids are eating Haraam, that I am eating Haraam. My brother also works in a bank. I do have my own income.. More

  • Disposing of Ribaa Date: 2-11-2004

    One company dealing a Ribaa business and take money from people, and give them Ribaa (profit) monthly 10% - 20%, different to different clients, their mission is not take money and ran away, but suddenly government closes it, now what can be done to people, either people have to return money back to company which they took as profit (Ribaa), and.. More