I am a little confused about interest. Can I take loan or even have a credit card?
I wanted to understand why God Almighty has said that people who deal in usury are at war with God and his Prophet (pbuh)? Why God and his Prophet (pbuh) are not at war with rapists, murderers, hypocrites and other culprits? Why interest is so heinous a crime compared to other misdeeds?
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!
I want to know what does qarz-e-hasna mean? Is the person taking it, supposed to return it back to his creditor?
Do I have to pay zakah if I am in a lot of debt? If yes, what will be the percentage, keeping in mind 20% that I already pay to the government.
Does a believer have to pay Zakah on lent money? If I have given somebody a loan to repay me after three years, does that money have to be accounted for Zakah after an yea? What amount is zakahable (nisaab) in USD?