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Tag: Islamic 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.

Bank Account in Non-Islamic Bank

Bank Account in Non-Islamic Bank: Permissible?

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: 1- You shod search for an Islamic bank in your area. If you found one, you should avoid dealing with …

Can I Accept IT Job for a Bank?

Can I Accept IT Job for a 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 permissible to work in any department in a conventional bank as long as you do not prepare any interest-based contracts or sign them on …

Buying a House with Interest on the Price

Buying a House with Interest on the Price: Permissible?

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: 1- It is clearly known that usury (riba) is impermissible (haram) either in housing or any other dealings. 2- As …

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 …

Should I Emigrate If No Islamic Banks Available

Should I Emigrate If No Islamic Banks Available?

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. Dear brother, you are to be commended for your keen desire to follow the financial rules. We pray to Allah to make it …

Father Refuses to Pay Zakah What to Do

Father Refuses to Pay Zakah: What to Do?

Wa `alaykum As-Salamu waRahmatullahi 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. Dear questioner, we would like to thank you for the great confidence you place in us, and we implore Allah Almighty to help us serve His cause and …

Putting Money in a Western Bank

Putting Money in a Western Bank: Permissible?

Wa `alaykum As-Salamu waRahmatullahi 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. Dear questioner, we would like to thank you for the great confidence you place in us, and we implore Allah Almighty to help us serve His cause and …

Can a Non-Muslim Use an 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. Dear brother, we would like to thank you for the great confidence you place in us. We implore Allah Almighty to help us …



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