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Is Guidance Financial correct ?

Answered as per Hanafi Fiqh by ShariahBoard.org
I have tried to stay away from riba (of all any kinds) for the past 14 years. But recently I have seen a lot of names offering interest free loans or more specifically Islamic loans. Some of my friends who are like me very strict when it comes to riba have acquired loans from Guidance (name of the organization). The process is based on percentage, according to them this has been endorsed by some six muftees, one of them being Mufti Taqi Usmani. My question 1: If you are aware of such organizations and their process, is this Hallal or is this a new form riba and that the Mufti Sahib is not aware of this. I have written a separate mail to Mufit Taqi Usmani Sahib also. question 2: I am not a Islamic scholar nor do I posses the knowledge to understand the ruling for Riba. Which riba is talked about in the Holy Quran, when riba is mentioned Taking riba or Giving Riba. After reading your mail and the mail from Mufti Taqi Usmani is it still obligatory upon me to do more research on the subject or just follow the Fatwa. Question 3: I have named my Son ” Mohammad Sabeehullah” he is now 9 years old. Is he named properly.
Is Guidance Financial correct ?
Since we support mufti taqi usmani, we believe that the material of guidance is also fine because he endorses it.
It’s meaning could be right and there is nothing wrong with it. Actual meaning of ‘subhun’ is to swim. ‘sabeehullah’
means the swimmer of Allah. We would take those meaning which are appropriate then this name would be fine.

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This answer was collected from Shariahboard.org. It was established under the supervision of the eminent faqih of our era, Hazrat Shah Mufti Mohammed Navalur Rahman damat barakatuhum.

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