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Interest

This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

I live in the uk. I used my indian credit card to buy car insurance in the UK for 68 pounds. The exchange rate at which the credit card company was Rs 79 for 1pound(which is Rs 5372). They charged me in indian rupees….

Answered by Askimam.org

I live in the uk. I used my indian credit card to buy car insurance in the UK for 68 pounds. The exchange rate at which the credit card company was Rs 79 for 1pound(which is Rs 5372). They charged me in indian rupees. I am paying them the full amount before they charge me… read more »

What if someone is working for a stock exchange broker, securities company or holding company under similar conditions. Will it still be permissible?….I have a confusion regarding fatwa # 16250 that although one is not directly involved ….

Answered by Askimam.org

This is with reference to fatwa # 16250, 1- What if someone is working for a stock exchange broker, securities company or holding company under similar conditions. Will it still be permissible? 2- I have a confusion regarding fatwa # 16250 that although one is not directly involved in interest based transactions but aren’t they… read more »

I wanted to know if someone is taking a student loan (with interest on it) and there is some extra left, can he use that money to buy a grave for himself?

Answered by Askimam.org

I wanted to know if someone is taking a student loan (with interest on it) and there is some extra left, can he use that money to buy a grave for himself? Answer In the name of Allah, Most Gracious, Most Merciful Assalaamu `alaykum waRahmatullahi Wabarakatuh It is not permissible for a student to take… read more »

My question is regarding the Canadian Registered Retirement Savings Plan (RRSP). When a person places money into the plan, it acts as a tax shelter (i.e. pre-tax income goes into the plan). When a person (presumably when they’ve retired) takes money out of the plan they are taxed on it. ….

Answered by Askimam.org

My question is regarding the Canadian Registered Retirement Savings Plan (RRSP).  When a person places money into the plan, it acts as a tax shelter (i.e. pre-tax income goes into the plan).  When a person (presumably when they’ve retired) takes money out of the plan they are taxed on it.  Canada has a progressive income… read more »

Can somebody perform umrah in ramadan or hajj if they have an ongoing loan to pay off in small amounts that will take them the next 15 months but they will have saved enough money on the side for their umrah/hajj?

Answered by Askimam.org

Can somebody perform umrah in ramadan or hajj if they have an ongoing loan to pay off in small amounts that will take them the next 15 months but they will have saved enough money on the side for their umrah/hajj? Answer In the name of Allah, Most Gracious, Most Merciful Assalaamu `alaykum waRahmatullahi Wabarakatuh If… read more »

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