I am working in a government organization which engages maritime business. The employees of this organization are entitled to apply for the various types of loan (Vehicle loan, Ten month loan, etc.) based on their job category.
I know that riba (interest) is haram (unlawful). But I don’t really understand the Islamic or Shari`ah compliant home loans.
Can we borrow money to construct the road as investment; hence we can share the profit of selling the land?
Allah uses us in order to fulfill the needs of others. But He is the fulfiller of the needs. He gave you in the first place and then He’s saying don’t become too clingy. Don’t stick too much to this wealth. Don’t actually become miserly. Learn to spend it. Learn to focus…
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 …
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-Riba(interest on loans) is prohibited by the texts of the Qur’an and the Sunnah. Therefore, a Muslim needs to keep …
Is it permissible for the financer to collect murabahah (resale with a stated profit) against conducting feasibility studies?
Are we able to purchase a foreclosure home since the bank is the owner and seller at the same time? I have heard this to be allowed in Islam but not so sure? I am also wondering why a sheikh stated that ijarah loans is a fraud.
I have borrowed some money from my daughter. Please, explain, when calculating my Zakah, who will pay Zakah on that borrowed money, me or my daughter?
Can I have a loan from the bank to buy it? If not, what do you advise me to do?