Find answers to your Islamic questions by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.
Q: My question is about the UK student loans. I took out the loan to go to university not knowing back then that it was haraam. The UK student finance does’t require you to pay anything back until you earn above a certain amount. However it does start taking interest from day one of the… read more »
Q: My sister wants to buy a house. She does not have money. She thinks of taking loan. Unfortunately in Pakistan, neither banks nor any individual gives loan without imposing interest on it. Please guide me what should she do, because living in rented houses is very problematic here. A: Don’t lose hope. Where there… read more »
Q: A few months ago, a technology company that makes and profits off smartphones and other devices (Apple) partnered with a US bank to offer a credit card. The bank is responsible for all of the banking aspects, and the credit card is like any other one from a consumer perspective, offering cashbacks and rewards… read more »
Q: Person A has a bond on his home (home loan). Person B has interest money. Can person B give this interest money to person A to pay off his bond. A: Yes, it is permissible. And Allah Ta’ala (الله تعالى) knows best. Answered by: Mufti Zakaria Makada Checked & Approved: Mufti Ebrahim Salejee… read more »
Q: As an employee, I am facilitated to take 3 types of loan from my employer. Loan type 01: This loan is termed as ‘Salary Advance’. In case of emergency, the employee can take a loan from the employer to a maximum of 6 times his basic salary. The lent amount will be deducted from… read more »
Q: In America, a baby gets child benefits from the government. Can the father take a loan from the child’s money to perform hajj and return the debt once he has the money? The baby is na-baaligh. A: If money is given to the child, the money should be spent on the child. The father… read more »
Q: I have a friend who is in financial trouble, he has to repay a huge amount of a loan. I know one person who has won some money in a bet, he wants to use the bet amount to help someone in need and does not want to use it for himself. Is it… read more »
Q: My father bought a house through the bank on an interest bearing bond. He got into financial difficulty and needs my help to repay the loan. If I help him to pay the bond, will I be rewarded for it or will I be sinning for paying interest? A: Advise him not to ever… read more »
Q: If I have given loan to someone, do I need to include this in my asset calculation for upcoming year zakaat? A: Yes. And Allah Ta’ala (الله تعالى) knows best. Answered by: Mufti Ebrahim Salejee (Isipingo Beach) Source
Q: I gave a loan of 200 dollars to my friend a few years ago. I had these dollars from my aunt who gave them to me to deposit in my bank account. Now my friend is returning the amount to me but there is an issue, at that time it was equal to 105… read more »