IslamQA

usury

Brother Asalam Alaikum In a Islamic Name Book I saw a name Ribah , companion of our Prophet. I was inspired with this name and put the name Riba Enterprises to my new form company. I registered the firm and completed all government formalities. Now I come to know that the meaning of this word is interest which is looking very unislamic . I am upset very much . Although in my mind ( niyat ) it was Islamic . At this stage I am not in a position to change the name . Brother let me know what is the effect of name , it context , what should be answer if some one ask about the name, in respect to keep my niyat in mind.. Yours truly!

Brother Asalam Alaikum In a Islamic Name Book I saw a name Ribah , companion of our Prophet. I was inspired with this name and put the name Riba Enterprises to my new form company. I registered the firm and completed all government formalities. Now I come to know that...

I work in a private non-Islamic bank, my job is in the Credit department where we give loans to companies in order to help them in buying new machines & financing their production cycle. All loans are given after thorough studing & analysis to companies’ risks & operations, the bank ofcourse receives interest on said loans which is pre-agreed upon in the contracts. My job also involves approaching new companies as to market our loan packages. Is my salary/job permissable or not?

I work in a private non-Islamic bank, my job is in the Credit department where we give loans to companies in order to help them in buying new machines & financing their production cycle. All loans are given after thorough studing & analysis to companies' risks...

We live in a Non Islamic country where interest is legal. If we have to do business and survive with are rivals in business we require money. In this context is taking loan from banks wrong. Please dont misunderstand, but if its wrong then it will be very difficult for muslims in this country to progress. We will never improve our economic status as a community. What does the Quran and Hadith say in this regard.

We live in a Non Islamic country where interest is legal. If we have to do business and survive with are rivals in business we require money. In this context is taking loan from banks wrong. Please dont misunderstand, but if its wrong then it will be very difficult...

I have withdrawal 6000 rs from bank which i received as interest. then again after two days i have withdrawn 10000 rs from my salary. these two bundles of money got mixed . i dont want to use interest money but dont know how to segregate this from mixed bundle.

I have withdrawal 6000 rs from bank which i received as interest. then again after two days i have withdrawn 10000 rs from my salary. these two bundles of money got mixed . i dont want to use interest money but dont know how to segregate this from mixed bundle. Answer...

I have completed my graduation course of engineering of four years and in that I was punished of 1 year drop in the second year first semester end because of copy case from university and so my 4th semester I have not studied at all in my college and I asked to refund the tuetion and all other fees of that semester to college but they said that we can not refund you. Ultimately my one year course incresed and I started to take extra subject to save my total course duration and I did it. But for the extra semester which I have charged the fees (tuetion fees and all for one semster) and college giving us interest of last year fees which is deposited at the time of joining the course. Thus, Can I use that interest amount 7190/- Rs to pay my additional semester fees 23000/-Rs. (approx) to college?

I have completed my graduation course of engineering of four years and in that I was punished of 1 year drop in the second year first semester end because of copy case from university and so my 4th semester I have not studied at all in my college and I asked to refund...

My problem is i want to study further coz the education that i did in india is not licensed in usa so i have to study further for this i have to go to the college and have to take a loan? what should i do now as there is no islamic bank here which can give me educational loan. regarding this i did istikhara myself i saw in my dream that my present husband is married to someone else am not his wife and am not having any connection with him, and it was a mixed dream and very unclear,so now plz advice what should i do now.

My problem is i want to study further coz the education that i did in india is not licensed in usa so i have to study further for this i have to go to the college and have to take a loan? what should i do now as there is no islamic bank here which can give me...

I have been offerred a franchise of a general insurance company IFFCO TOKIO.It deals only in general insurance and not in life insurance.Please let me know if insurance business is halal or not in the light of the Quran and hadith.

I have been offerred a franchise of a general insurance company IFFCO TOKIO.It deals only in general insurance and not in life insurance.Please let me know if insurance business is halal or not in the light of the Quran and hadith. Answer (Fatwa: 978/722=H)   Medical...

Can I Work at Bank Which Works With Riba?

Can I work at bank which works with riba? Answered by: Mufti Abdurrahman ibn Yusuf Assalamu alaykum In the name of Allah most Gracious Most Merciful Interest and usury has been strictly prohibited in Islamic law. Many verses and hadiths of the Prophet (Allah bless him...

I would like to know if it is permissible to buy and sell gold for profit. My understanding in the past has been that transactions where a certain amount of gold is purchased at one price and the same amount sold at another (higher price) are not permissible as the money comes into the category of riba. Is this correct? I have an opportunity to buy into Gold index fund. These are funds/stocks that are based purely on the price of gold. The price of these funds will fluctuate depending on the price of gold. Am I allowed to invest in such funds?

I would like to know if it is permissible to buy and sell gold for profit. My understanding in the past has been that transactions where a certain amount of gold is purchased at one price and the same amount sold at another (higher price) are not permissible as the...