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Tag: Riba

Car Insurance

Is Car Insurance 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: Car insurance is permissible for the obligatory liability as well as for the value of the car and the hazards to …

charging interest

What is So Bad About Charging Interest on a Loan?

Short Answer: The Quran says God declares war on the one who charges interest. Why? Because interest is often used as a tool of oppression against poor people, forcing them into servitude and robbing them of dignity. Though there is a hadith that condemns paying interest, the Quranic spirit stands primarily against charging it. If you must pay …

House

Father Built a House from Riba: OK for Me?

My father used to work at an interest based bank. He took a loan from the bank to build a house; it belongs to me now. Is it halal for me? If not, what should I do? It was built on my mother’s land.

Investing With Borrowed Money: 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: Financing investment from a loan without interest is permissible. Answering your question, Prof. Dr. Monzer Kahf, a prominent Muslim economist …

Is Commodity Trading via the Internet Halal?

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: Future commodity trading is not allowed in Islam, whereas spot commodity trading is permissible either delivering in on the spot …

Should I Pay Back Lottery Money?

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: You and your brother have to get rid of this money as it was earned from lottery which is gambling, …

Buying a House with Interest on the Price

Buying a House with Interest on the Price: 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: 1- Usury (riba) is impermissible (haram) either in housing or any other dealings. 2- As for the kind of contract …

The Problem with Interest: Book Review by Joe Bradford

The Problem with Interest: Book Review by Joe Bradford

What is the problem with interest? Why is it an issue for Muslims? This book is an attempt to answer these questions. When Copernicus and Galileo attacked the science of their time, they suffered at the hands of established opinion. Whilst demanding a retraction of their heresy, the church conveniently ignored the growing gulf between …



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