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Car Loan

Car Loan with Wife’s Contribution: Allowed?

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: Interest-based car loans are not permissible in Islam, especially in cases like yours where car is not a pressing need or a necessity of life. Responding to …

Buying House from Bank in Installments: Allowed?

Buying House from Bank in Installments: Allowed?

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- The Islamic form of selling, which is allowed, is that the bank buys the property and sells it with a higher price; this is murabahah in Islam. …

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 …



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