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- Muslims are ordained to adhere to the Quran and the Sunnah everywhere and at all times. 2- As for …
For justice to prevail in today’s world, the economic and financial system must be a fair, sustainable system to give equal opportunities for all people in society, rich and poor. It is actually in the best interest of the rich that the poor escape…
If you want money from a rich person, you need to make him an investor, you need to make him convinced that you are worthy of an investment and he shares the profit and the loss. In Islam, guaranteed profit is a big problem, because no body knows…
I have a question about mortgage. Is it permissible to buy one house for ourselves on mortgage? I have heard that but I’m not sure that there is a Fatwa for this issue. Please, advise.
I know that riba (interest) is haram (unlawful). But I don’t really understand the Islamic or Shari`ah compliant home loans.
I have a problem concerning whether or not I am committing riba in lending some money to a friend of mine. I lent $100 to a friend of mine. Then I told him that he should pay me back at the end of the month and he agreed that he would pay an interest of $30 dollars if he couldn’t pay me back on time. The following month, he still pays me $30 dollars because he couldn’t pay me back the $100. The reason why I charged the interest to which he agreed upon is that he would not delay in paying the money and that he would still remember his debt. So, the question is “is my action in charging him an interest of $30 per month to which he willingly agreed upon for borrowing my $100 worth of money deemed as riba? Thank you for your time.
VALLETTA – In a bid to attract business from Middle East firms, the government of Malta has established a national body to help drive the development of Islamic finance, Reuters reported on June 28. This will couple with further plans for legislation to facilitate the sector as the Mediterranean country aims to position itself as …
My question is whether it is lawful for me to use these staff loan facilities for our necessities.
If you want to appreciate how Islam is more than just a religion of technical laws, look at the fuss surrounding Bitcoin. Most folks are obsessed with just one question: IS BITCOIN HALAL?! What do they mean by that? Well, it seems folks aren’t sure whether it is permissible to invest in something which isn’t …
Turkey’s leading religious authority declared Bitcoins un-Islamic on Wednesday, warning its citizens against buying the world’s most popular cryptocurrency.
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