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Is It Allowed to Use Credit Cards

Is It Allowed to Use Credit Cards?

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 you know for sure that you can use the credit card without incurring any interest, it is permissible to sign such a contract and use the card. With …

How Does An Interest-Free Economy Operate?

Short Answer: Islam is a way of life that is concerned with the economy (in its micro- and macro-levels, as we say in today’s language). However, Islam is not meant to devise specific systems for economy in the sense of a certain system for fiscal policies, risk, banking, and so on. Islam is NOT meant to …

Hajj with Car Price Bought with Riba: Valid?

Hajj with Car Price Bought with Riba: Valid?

Wa `alaykum as-Salamuwa 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: As long as you have repented form interest-based transaction and the borrowed money belongs to you, you can perform Hajj with …

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 …

How Does An Interest-Free Economy Operate? Part 2

Asalamu Alaikum, Thank you for contacting About Islam with your question. Please find the second and final part of the answer to your question below. Find the first part at the link here. I am not an expert in economics, even though I do have general knowledge of the subject. I know, however, that there …



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