IslamQA

loan

Arranging finance

Can you please advise on the following, I run a business selling cars, the business was started with money saved up, not with a loan. We arrange finance at the request of the customer, we do not provide the loan for the vehicle the finance company does, we don’t take...

Islamic finance home mortgage

Asalam-o-Alykum, I live in Sydney Australia with my wife and two kids. I am interested to buy a house, but as we know Interests is haram in Islam. But I see many muslims buy properties through bank loan and mortgage which includes interests. Is it permissible? For me...

LOAN REPAYMENT

Assalamu Alaikum Mufti sab I want an Islamic guidance or ruling on my matter: I had borrowed money from my brother in law to buy a house equivalent to US$65,000 We agreed that I cud make my repayments flexibly to me The amount borrowed by me was in Local Malawian...

Investing

I would like to know ruling in Islam of invest in share / stock market Answer Wa’alaykum as Salam wa rahmatullahi wa barakatuhu, There are a few conditions which have to be fulfilled in order for it to be permissible to invest in the stock market: The business should...

How to deduct debts when calculating Zakat

السلام عليكم ورحمة الله وبركاته Hazrat, I am trying to understand another masala, for example: Zaid takes a loan of $5,000 from his brother, and his brother tells him to pay $200/month, but Zaid doesn’t pay every single month, but on and off. Would it be necessary to...

Loan Interest Hukm

Assalamu’alaikoom Ya Mufti, Please kindly explain to me why a conventional loan annuity interest that is originally Haram due to Riba can change to Halal after the said interest is converted to Ujrah and the said Loan Transaction is converted to the ‘Aqad Ijarah....

Halal Mortgages in Canada

Assalaamu Alaikum, I just wanted to know what your opinion is with regards to the Halal mortgage products provided by Aya Financial and Zero Mortgage in Canada. Whether or not, they really are Halal and Shariah compliant? If your findings suggest that they are not...

Gratuity and Pension Fund

I am employed in an organization where monthly deduction is made on account of Gratuity and Pension Funds (GPF). These funds are given at the time of retirement to the employee. The employer invests these funds . There are 02 categories of GPF interest bearing and non...

Zakat to travel companions

Question Assalamualaikum If the travelers are in a foreign country, under lockdown can the rich among them give zakat to their poor companions. Please provide references from fiqh books Jazakumullahukhairan Answer In the Name of Allah, the Most Gracious, the Most...

Inheritance query

Question Assalamualaikum, (1) If a husband wants to give the wife more than what she is entitled to from his inheritance, can he indicate a note in his will a loan of say $100,000 that he owed his wife. In this case, will the loan be paid out first to his wife before...