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Answers with Tag: Interest

My Grandmother set up a trust fund to pay for education for her Grandchildren, but that we can ask for money from at any time, and any that is not used will be shared equally between the children as they each reach 25. Three have received theirs, and two have not. I recently asked for some money from this fund, and was sent an amount, but this time I noticed the money comes through a high interest account. I do not know either whether the shares are in halal companies, but could find this out insha’Allah. The shares are not in our names as far as I understand. Can you please comment on whether or not this would be halal, if it isn’t should I deposit the cheque and get rid of it, or just pretend I never received it!

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

Is Mortgage Halal due to Necessity?

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

I am currently working for a bank, and I know at a basic level that you’re not allowed to work in bank due to Interest. This is not an Islamic bank. All that I am doing is checking if the customer has filled in the form right and sending a letter back to the customer, letting them know what is happening about the bank account. I don’t deal with the money or the financial aspect of this. Also is it allowed for a cleaner or someone concerning the food aspects to work at a bank? I was wondering what is the Islamic rule or law concerning someone working at a bank, and is it right for me to still work for them?.

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

Muslim-Hindu Marriage

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

Declaring Bankrupcy due to Bad Financial Situation

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

Financing: Alluring Ways to Fall into Riba in a Car Transaction

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

Loans and Zakat: How do We Calculate?

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

Working as a Solicitor

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

Home Equity Loans

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

Working at a Firm Involved in Interest-Based Transactions

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

Some time ago in my past I took educational loans (loans for schooling). Even then I knew it wasn’t right. I knew I wouldn’t be able to repay them before the “grace period” ended and interest would begin to be charged on them. What can I do now to rectify this great wrong? I have made tauba (forgiveness prayer) several times. Is there anything else I should do to right this situation with Allah? I mean I can’t even pay them back now and interest will continue to be charged on the loans until every penny is paid back. Basically I want to know is making the Tauba enough. I have the intention to never take interest bearing loans again and I want to pay these off as soon as possible. Is there anything else I should do?

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

Forwarding Advice on Stock Market Investment

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

Investing in the Stock Market and Passive Income

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

Is it permissible for a Muslim to send delinquent clients with outstanding accounts to a collection agency when it is possible that the said agency will charge interest to the individual if they do not pay within a certain time? Not all of the clients will be charged interest, but some of them will.

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

Does Drawing Money from one’s own Company at Market Interest Rates Constitute Riba?

Hanafi Fiqh | Shaykh Muhammad ibn Adam | Daruliftaa.com

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