RIBA

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My friend is in need of a debit card (interest free transactions)…but for him to obtain this he must upgrade to a new account. The new account offers many new features which come hand in hand with the upgrade such as, student discounts on flights, shopping vouchers, etc. what is worrying is that they offer health insurance and other insurance based schemes. Now these schemes are always available to him and come part of the package but he does not have to pay for them and although they are available to him, he can not use them if he wishes. As he needs the debit card, he doesn’t intend indulging in the haram schemes. Is it permissible to upgrade his account on this basis?

Shaykh Muhammad ibn AdamRead

What is the ruling on paying car insurance to companies in instalments whereas they charge you added APR, instead of paying a one off instalment? Also if you only wanted to use the car for a few months, you would be paying less than for the full year.

Shaykh Muhammad ibn AdamRead

What is the ruling on Premium Bonds according to Hanafi Fiqh?

Shaykh Muhammad ibn AdamRead

Interest (riba) in Company Shares

Shaykh Muhammad ibn AdamRead

Hidden Interest and Confusion

Shaykh Muhammad ibn AdamRead

Question on the Fiqh of Financing

Shaykh Muhammad ibn AdamRead

I want to ask about this justification which I use based on understanding of some Ulema and majorly my own understanding, which I think could be wrong too, but if Ulema of Sunni Path concur then Insha ALLAH I will stick to it firmly, its about Riba and I want it to be clarified because Insha ALLAH I would be getting into Business field very soon. If a Bank gives you Service and takes a certain amount of money from you then would it be considered as Riba? Like for instance I am a Bank who says to Person X that I will secure your money of Rs 10,000 for the time period of 1 year and in return I take a calculated and fixed amount of money say for example Rs 1000, would this be considered as Riba? My Second Question is regarding Loan, for instance I take loan of Rs 10,000 from a Bank and the Bank says it will charge me Only Rs 1000 at the end of tenor and I will have to return the money in any case even if my business goes in loss would that be considered as Riba?, because usually what happens in Pakistan is that you have to payback the loan with interest so kindly distinguish between these 2 kind of situations.

Shaykh Muhammad ibn AdamRead

Buying a Car on Loan with a Higher Price

Shaykh Muhammad ibn AdamRead

Purchasing a House which still has an Interest Bearing Loan

Shaykh Muhammad ibn AdamRead

About Interest (riba) with Parents

Shaykh Muhammad ibn AdamRead

Marks-UP and Riba

Shaykh Muhammad ibn AdamRead

Is investing with a specified profit in return permissible?

Shaykh Ebrahim DesaiRead

Please check this method of Ijarah, is it halal or not? Lots of people in Canada are waiting for an Halal mortgage.

Shaykh Ebrahim DesaiRead

1. Will a person be discharged from his obligation of zakāh if he gives something other than cash? 2. Is it permissible to charge the debtor the lost value of the current currency against another currency?

Shaykh Ebrahim DesaiRead

Is the 4% on my credit card in this situation an interest?

Shaykh Ebrahim DesaiRead

I live in Newyork and i would like to know if i can borrow loan from a bank to buy house ?

Askimam.orgRead

Would it be permissible to take out a legal cover plan that cost R33 monthly but covers legal cost of up to R40 000 a year and includes id fraud cover of up to R25 000 a year?

Askimam.orgRead

When does riba became nessicity because people are saying “oh if i don’t have a lot of money to pay for my school i can take loan with riba”. they say its nessicity or must. what is the ruling on this?

Shaykh Ebrahim DesaiRead

My question is regarding a riba mortgage. I bought a house in my country by riba mortgage 2 years ago when I was non muslim (I was christian then). So I…

Shaykh Ebrahim DesaiRead

Is it a sin to purchase insurance from lenders other that Salaam insurance?, as they are providing a “halal” alternative.

Shaykh Ebrahim DesaiRead

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