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Tag: conventional banks

Loan with Profit from Islamic Bank

Loan with Profit from Islamic Bank: Riba?

As-salamu `alaykum. I would like to know: In Islamic banks where they say they follow the Islamic rules and regulations but in reality what made me shock is when they give loans, they charge the fixed rate as an interest but the name changes to profit instead of saying interest. Could you, please, explain how I can know that a bank follows the Islamic rules and regulations properly? Thank you.

Car Insurance with Interest

Car Insurance with Interest: Allowed?

Wa `alaykum as-salamu wa rahmatullahi wa barakatuh. In the Name of Allah, Most Gracious, Most Merciful. All praise and thanks are due to Allah, and peace and blessings be upon His Messenger. In this fatwa: If Islamic insurance is available, then you have to opt for it. Otherwise, you may buy car insurance and pay …

Can I Work for a Non-Islamic Bank?

Can I Work for a Non-Islamic Bank?

Wa `alaykum as-salamu wa rahmatullahi wa barakatuh. In the Name of Allah, Most Gracious, Most Merciful. All praise and thanks are due to Allah, and peace and blessings be upon His Messenger. In this fatwa: It is allowed to work for a non-Islamic bank as long as you don’t do any work related to riba contracts. Responding …



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