Finance from Al Baraka bank
Q: Pertaining to purchase of property, is it permissible to use finance from Al Baraka bank to purchase a house?
A: Refer to http://muftionline.co.za/node/986
And Allah Ta’ala (الله تعالى) knows best.
Checked & Approved:
Read these QA to learn more..
- Q: How is Islamic (Sharia) finance any different to normal commercial bank finance. Dress it up however you like, you pay more money then you borrowed to start with. In fact, in most cases when you compare the two options, like for like Islamic finance costs more. So my question is, is it really the correct practice?
- Vehicle finance with Wesbank and Albaraka bank
- I read a fatwa passed by Mufti Zuber Bhayat shaheb that it is permissible to invest with al baraka bank provided the paper work is checked by a reputable Aalim,i need to know if i can invest with al baraka?
- Is it lawful to finance a car from the bank? If the car original price is 4 lakhs and the bank earned the profit and fixed the amount to 5 lakhs, and I am told to pay this 5 lakhs in installment (partly) of 36 months in equal amount. Please tell me, is this scheme valid according to Shariah?
- Assalam u alaikum. I wish to perform hajje badal for a deceased relative. I’ve performed my own fard hajj but dont have the money to finance this second hajj. I have therefore asked family members to help finance the trip but those that I have asked have not been to hajj themselves. They are all alhamdulillah wealthy enough to be able to finance my trip and still have enough savings to go on hajj themselves but choose not to/aren’t in a position to go themselves yet-can they still give money for my trip? will my hajj still be valid? Also although their income is from halal sources, they don’t all pay zakat, and some still receive interest (ri’ba) in their bank accounts. Would it be allowed to accept money from them in this circumstance? even if the amount i’m receiving could easily have been earned from their halal incomes and not necessarily be taken from the interest (ri’ba)? Jazakallah Khair. Wasalam
- Asslamualikum My question is that i have done my BCOM and persuing in MBA (Finance). Now I am confuesd that according to my educational background it becomes compeltion for me to work in any financial company ie; BANK, INSURANCE, FINANCE, INVESTMENT, and apart of this if I work in any other kind of company so that might be involved any kind of loan, interest or finance. So working in such kind of the companies is allowed according to ISLAM as per my situation or not? Because after getting completed my MBA I will only be able to apply for such industries. So please guide me in light of HOLY QURAN and according to ISLAM.