I work for a bank and deal with credit card balance transfers. I offer customers of other banks to transfer their balance on other credit cards over to the cards of my bank by offering them lower interest rate. What is Islamic verdict on my nature of job?
I am overloaded with debt from Credit Cards and medical bills and my income is less than my monthly expenses and I own very little. My only option is bankruptcy. I am very regretful about getting involved in a credit system which involves interest and for not being able to pay back my debt. At this point I don't have much choice. I was listening to a lecture by a renowned scholar who said: "Debt…
I want to ask can I buy a car in instalments from a bank. Would it be licit (halal) or illicit (haram)? Furthermore, what is exact principal stand of Islam about interest? I read your article about interest, and as far as my understanding of your article is concerned, it declares interest halal as long as both the parties are agreed and it brings no financial burden on receiver. Correct me if I am wrong.…
Are we allowed to purchase property in a non-Muslim country on instalments where the matter of bank interest (riba) is involved?
It is said that interest earned on savings in bank account if given to deserving people is allowed in Islam and it does not fall within the ambit of riba. Pease comment on this view.
I have a few questions. My first question relates to the consumption of alcohol. I know it is haram. But living in a western country, where it is part of the social life, one has to mix with the people who drink. I have been avoiding drinking but attended parties and social gatherings where wine is served. Recently I came across a book where it was written that Hadrat Umar (sws) used to punish those…
Is it allowable to:
I was thinking in terms of any Ta’zeer punishment or Hadd for the one who consumes riba, haram meat, meat of dead-haram animals as there were Hadd punishments for various acts in the Qur’an. Since there are very serious warnings for consuming riba (consuming), but without any worldly punishment.
Is it permissible for the Muslims living in western societies (Australia in my case) to use interest based finical products, such as home loan? Some people say that it (home loan) is totally haram. But we seem to have no other option. After all, we need to buy a house of our own. We can't pay rent for the rest of our lives, can we!
Dear Ghamidi sahab,
I have listened to your lectures and I have been able to correct my many beliefs that we had from my ancestors.
Relating to mortgage you said that banks buy us the property but when I read the agreement they actually lend us the money and our liability is the cash which they paid to our layer to acquire my property , the title name on the property is mine not the bank so…
Would saving certificate schemes be considered as Riba (interest)?
I want to know what does qarz-e-hasna mean? Is the person taking it, supposed to return it back to his creditor?