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    Answers with Tag: RIBA

    Is buying or selling pre-paid legal service permissible and has it been researched according to Shari’ah?

    Monetary Penalties on Late Payment

    Is Home Contents Insurance Unlawful?

    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?

    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.

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

    Interest (riba) in Company Shares

    Hidden Interest and Confusion

    Question on the Fiqh of Financing

    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.

    Buying a Car on Loan with a Higher Price

    Purchasing a House which still has an Interest Bearing Loan

    About Interest (riba) with Parents

    Marks-UP and Riba

    Is investing with a specified profit in return permissible?