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Interest

This answer was collected from the official website of Darul Uloom Deoband Waqf. The institution is based in India and the answers are provided in accordance to the Hanafi Fiqh.

Recently I have gone through a video in which A speaker said that Late fee of Telephone/Mobile … rebah) Kindly Share the True teachings of Islam.

Answered by Darulifta Deoband Waqf

Recently I have gone through a video in which A speaker said that Late fee of Telephone/Mobile bill, Electricity bill, educational institutional Late fee and other societal/Service late fee are different kind of Interest. ( As  I understand by the words of Speaker that any additional amount paid due to paasing of Due date is… read more »

Ref. No. 37 / 1039 Nowadays Bajaj finance has started EMI schemes on all electronic shops and … to repay as per my knowledge. Please guide…

Answered by Darulifta Deoband Waqf

Ref. No. 37 / 1039 Nowadays Bajaj finance has started EMI schemes on all electronic shops and furniture shops. They are giving loans to buy things on EMI at 0 % int. They only charge nominal service charge or processing fee for documents which is very nominal. Rest you only have to pay the principal… read more »

Is life insurance allow in islam?

Answered by Darulifta Deoband Waqf

Is life insurance allow in islam? Answer: Ref. No. 41/950 In the name of Allah the most Gracious the most Merciful The answer to your question is as follows: Interest and all interest based dealings are strongly forbidden in Islam. The Qur’an and Ahadith are very clear on the prohibition of interest. The Holy Quran… read more »

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Ref. No. 1032 I stay in mumbai nalasopara area. Here our municipal corporation charges annually house … can we pay house tax by ineterest money?

Answered by Darulifta Deoband Waqf

Ref. No. 1032 I stay in mumbai nalasopara area. Here our municipal corporation charges annually house tax which includes expenses done by govt like roads, street lights and sewage drainage lines. Can we pay interest money considering that it will go for sewage and drainage line expenses done by govt. So in this case can… read more »

Can we use interest to pay bank services and maintenance fees for e.g Minimum Account Balance penalty, ATM charges and Credit card Service fees?

Answered by Darulifta Deoband Waqf

Can we use interest to pay bank services and maintenance fees for e.g Minimum Account Balance penalty, ATM charges and Credit card Service fees? Answer: Ref. No. 41/958 In the name of Allah the most Gracious the most Merciful The answer to your question is as follows: Bank serves its customers and in return it… read more »

Is it mandatory for a Muslim to check the source of money he/she is getting? I mean, if a … payee, then what’s wrong in taking interest from banks?

Answered by Darulifta Deoband Waqf

Is it mandatory for a Muslim to check the source of money he/she is getting? I mean, if a person/company gives me money, is it mandatory to check the source of income of that person/company? If yes, then how can Muslims do Govt. job in a non-Muslim country as the income of the non-Muslim Govt…. read more »

Interest received from a non Islamic bank into my account .. Does the interest given to the … be given from another account or other savings.

Answered by Darulifta Deoband Waqf

Interest received from a non Islamic bank into my account .. Does the interest given to the poor physically have to be from that account or can the equivalent interest amount be given from another account or other savings. Answer: Ref. No. 41/1029 In the name of Allah the most gracious the most merciful The… read more »

Penalty for late payment of rent

Answered by TheMufti.com

Q. My landlord has made an agreement with me that if I delay in paying my rent on the 7th of each Month, he will charge me R350 plus vat as a penalty for the late payment of my rent? Is this allowed in Islam? A.In principle, the payment of rent from the Lessee (Tenant)… read more »

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