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Answers with Tag: RIBA

Is It Permissible for Employees To Take Medical Insurance Services From Their Employers?

How Does the Shari’a Construe a Loan from a Partnership to One of Its Members?

Two Conflicting Opinions

Buying a Car with Condition

Fees and Wages

Different Price for Credit

Is Investing In Bitcoin Permissible or Not?

What Should I Do with Interest I Didn’t Ask For?

What Should I Do about an Unlawful Transaction That I Can’t Reverse?

Is It Permissible to Keep My Friend’s Money in a Sharia-Approved Profit-Bearing Savings Account?

What Can I Do with the Unlawful Money I Earned from Something I Repented Long Ago?

Working in Bank

You may be aware of the 401K retirement investments in USA. From these investments of mine, I can take a loan but I have to pay interest on it. The interest money that I will have to pay would actually go to my account itself. It’s just that the system forces you to invest more should you take a loan from your own account (which is currently not accessible practically). Will this type of interest payment (to your own self) be considered as Riba?

Is Guidance Financial correct ?

Riba / Interest ?