IslamQA

usury

Working as a broker for halal car insurance

In the UK like other western countries insuring cars, houses and properties is compulsory by law. If any one does not insure for instance his vehicles they are not eligible to be on the road. On the other side  Islamic systems for insurance are not available here. If...

What should a person do with interest money?

What should a person do with interest money?  In the name of Allah, Most Gracious, Most Merciful Answer: Allah states in the Quran,“Allah has laid His curse on usury and blessed charity to prosper. Allah does not love any ungrateful sinner. Those who believe and do...

What is the ruling on interest?

What is the ruling on interest? It should be understood that taking and giving interest is counted as one of the gravest and heinous sins in Islam. The Holy Prophet (saw) has said: ??? ???? ???? ? ??? ?????? ?????? ??????? ???????   (????? ?244 ?1 ) “The Holy Prophet...

Trusts or Schemes which are based on interest.

Trusts or Schemes which are based on interest. In the name of Allah, the most Beneficent, the most Merciful.   Answer Wherever there is riba and interest involved, such a scheme will be unlawful. Saaiduna Abu Hurairah Radiallahu Anhu narrates that the Prophet of Allah...

Legal Plans

Are legal plans permissible? In the name of Allah, the most Beneficent, the most Merciful. Answer From an Islamic point of view a legal plan in essence is like an insurance in which the customer pays “x” amount of money monthly in return for the services such as...

Investing into Companies

Is investment halal or haram? In the name of Allah, Most Compassionate, Most Merciful. It is permissible to make financial investments provided they are in line with Shariah, i.e. investments in companies who have fixed assets and whose main business is of a halal...

Buying a house on mortgage in the UK

Is mortgage halal or not? And in a case where some body has no home even one and he is paying all salary for rent? In the name of Allah, the most Beneficent, the most Merciful. Answer It should be borne in mind that buying properties on a mortgage is not permissible...