Business & Finance · Subtopic
Interest (Riba) & Banking
1,723 fatawa from 9 South African Darul Iftas on Interest (Riba) & Banking, part of Business & Finance. Newest first; every fatwa links to the page where its Darul Ifta published it.
Subtopics are grouped from each Darul Ifta’s own categories and the fatwa titles, so the count is approximate.
By Darul Ifta
Interest (Riba) & Banking fatawa — page 34 of 44
- Mufti Online2 Sep 2012
Compulsory Health Insurance
I live in a country where health insurance is compulsory. But the fine for not being insured would be less than the fees for being insured I think.…
Mufti Zakaria Makada - Mufti Online2 Sep 2012
If I die and have not paid off my interest free loan
I have a question regarding debt. In the UK universities are now charging £9000 per year or so to cover the costs. If i take a student loan which is…
Mufti Zakaria Makada - Ask Imaam30 Aug 2012
I have some money in the bank and did term deposit and it has some interest on it. I would like to use that interest in charity is that acceptable in Islam could you please give me more information regarding this.
I have some money in the bank and did term deposit and it has some interest on it. I would like to use that interest in charity is that acceptable…
Moulana Ismail Desai - Ask Imaam30 Aug 2012
Kindly let me know that does Islam permit us to work in investment bank company like Barklays investment bank and Namura INV B?
Assalamukum Hazrath . Kindly let me know that does Islam permits us to work in Investment bank company like Barcalys investment bank & Namura INV B…
Moulana Ismail Desai - Mufti Online30 Aug 2012
Accumulated interest in an FNB account
I have an FNB account which has accumalated interest over many years, I want to get rid of this interest, someone told me to give it to my sister…
Mufti Zakaria Makada - Mufti Online27 Aug 2012
Refunds on Taxes paid with Interest Money
If a person used interest to pay for taxes, then on receiving a refund from SARS, will the refund be interest or halaal?
Mufti Zakaria Makada - Ask Imaam1 Aug 2012
Can I work in the IT Department of a Commercial Bank?
I work in the IT field for a large bank, my job requires me to provide development and support to the bank’s enterprise level applications. This…
Moulana Ismail Desai - Ask Imaam27 Jul 2012
Can I take out an interest bearing loan?
salam...i would like to know about personal loan from islamic bank or any other bank which i will invest in land and i will build a building on that…
Mawlana Ismail Desai - Ask Imaam23 Jul 2012
Can I work as an auditor in a bank?
I have quitted a job from a interest based bank last year. I have got a job in a group of companies as an auditor. Please answer the questions and…
Mawlana Ismail Desai - Mufti Online22 Jul 2012
Using Interest money to pay Assessment rates and taxes as well as income tax
Is it permmissible to utilise bank interest received to pay Assessment rates and taxes as well as income tax?
Mufti Zakaria Makada - Ask Imaam19 Jul 2012
1. Is insurance Halaal? 2. What is the ruling on medical aid and hospital plan? 3. What can interest be used for?
I would like to ask the following questions: 1. Is insurance Halaal? 2. What is the ruling on medical aid and hospital plan? 3. What can interest…
Mawlana Ismail Desai - Ask Imaam7 Jul 2012
Can a Muslim work in an interest bearing organization?
assalamualaikum warahmathullahi waabarkatuh can a muslim work in a organization or company where the company involves in interest in its main or…
Moulana Ismail Desai - Mufti Online3 Jul 2012
Dealing in Shares and Interest from the Bank
1. I have purchased shares in a certain company a few years back. Is purchasing shares permissible? ? If not, what should I do? 2. I have an account…
Mufti Zakaria Makada - Ask Imaam26 Jun 2012
Is it permissible to use interest money to pay RATES and VAT?
Is it permissible to use interest money to pay RATES? Can interest money be used to pay VAT e.g. I buy a car and VAT is included in the amount, can…
Mufti Hussein Issa - Mufti Online16 Jun 2012
Medical Aid, Hospital Plan and Insurance
Is medical aid and hospital plan permissible? Also, Is insurance permissible in South Africa?
Mufti Ebrahim Salejee - Mufti Online13 Jun 2012
Investing Money in the Banks
I have a question about investing money in the Bank. Few banks are offering me to open a monthly saving account. They are promising me a profit of…
Mufti Zakaria Makada - Ask Imaam5 Jun 2012
Are we allowed to pay our bank charges with interest money?
Are we allowed to pay our bank charges with interest money?
Mufti Hussein Issa - Mufti Online31 May 2012
EBucks and Other Reward Schemes of Banks
I just wanted to know, I received an email from FNB and I am not sure if you know how EBucks work but basically it is earned from money spent from…
Mufti Ebrahim Salejee - Ask Imaam25 May 2012
Living in home bought on interest
Im a teenager (16 years old), and I try my best to follow Islam as strictly as possible. I pray all my prayers in time, Im trying my best to follow…
Faisal bin Abdul Hameed - Ask Imaam18 May 2012
Is the following bank Shariah Compliant?
Dear Maulan Sahib, Assalamu Alaikum Please see the following website and let me know if we can do business with them. http://www.ijaraloans.com/…
Moulana Ismail Desai - Mufti Online14 May 2012
Ribaa (Interest)
Are there any jobs running without interest involvement? All companies have bank accounts and deal with banks in this modern age.
Mufti Zakaria Makada - Mufti Online30 Apr 2012
Mandatory Insurance Claims
My friend was going from Torino to Rome in a car with his friends (my friend was not the car owner). Another person crashed his car into the car…
Mufti Zakaria Makada - Mufti Online24 Apr 2012
Fund Raising Competition
A competition is being run where a certain amount is given as a donation and the donor is entered into a draw for an Umrah ticket and a quad bike.…
Mufti Zakaria Makada - Mufti Online21 Apr 2012
Trying to Legalise Interest
A person is asked for a loan of R50 000. He offers the R50 000 loan together with a soccer ball stating, “I am selling this soccer ball to you at…
Mufti Zakaria Makada - Ask Imaam12 Apr 2012
Do we need to revise the view on interest (Riba)? If not then what solution does Shariah has for dire need owning a house for those living in the western countries?
I live in Canada and here the facility has been provided by the government to all residents for buying houses on mortgage (interest bearing loan).…
Mawlana Faisal bin Abdul Hameed - Ask Imaam2 Apr 2012
Are the following interest bearing transactions?
1. Using my credit card I purchased gifts for my in laws during my marriage proposal finalised by my parents to express my happiness towards the new…
Mawlana Faraz ibn Adam - Ask Imaam17 Mar 2012
Is it sinful for me to keep the money loaned to me by the banks due to money taken from me by the state?
I was in U.K for about 3 years, I struggled to strive there as a student and didn't get enough working hours to save money which was my main motto…
Mawlana Faraz ibn Adam - Ask Imaam14 Mar 2012
Is it Halal for me as a Muslim to sell my security product to a bank and finances companies?
My friend and I have discovered a new sensor technology for perverting theft which costs very less and which is safer when compared to the present…
Mufti Hussein Issa - Ask Imaam13 Mar 2012
Is it permissible to take loans from banks in Kingdom Saudia Arabia?
My question is on loans given by Banks in Muslim countries. I am an Indian working in Saudi Arabia from 2 years. There are lot of Banks in Saudi…
Mawlana Mohammed Patel - Mufti Online13 Mar 2012
Prizes won from a Music Competition
Is it permissible to use the prizes won from a music competition. The host plays a song and prizes are given for knowing the name of the song,…
Mufti Zakaria Makada - Ask Imaam12 Mar 2012
I will be buying one currency on spot rate with my money (nothing from brokers) and wait for the right time to sell it off on a spot rate and that is the profit I make, is this Halal or not? (No interest element involved in it, in this transaction I can gain or lose).
My question is regarding forex trading, in this trade you buy or sell currencies through a broker. You either do trade by your own money e.g. €1000…
Mufti Hussein Issa - Mufti Online10 Mar 2012
School Competition
I am part of a class in which schools gather and the students debate on issues of world problems and how to solve them. We each research a world…
Mufti Zakaria Makada - Ask Imaam9 Mar 2012
"Islamic" Investment Banking, buying and selling.
1) I asked this question before but never got a response or confirmation email, so I’ll ask again. It has to do with "Islamic" Investment Banking. I…
Mawlana Mohammed Patel - Ask Imaam8 Mar 2012
There is a bank which gives money as a gift to me once I open account with them, is that money permissible to use?
There is a bank which is giving me gift money if I open an account. My question is: 1. Can I use that gift money? 2. If I can’t then can I give that…
Mufti Hussein Issa - Ask Imaam22 Feb 2012
Is the 4% on my credit card in this situation an interest?
I am trying to purchase a house for my family and I am 20,000 $ short of buying it cash to avoid a loan through the bank. My credit card company is…
Mufti Hussein Issa - Ask Imaam30 Jan 2012
Can I pay off the interest received from the bank to pay the interest on the car?
1. A community call themselves ‘Quddusi Sunni Muslim’, who are these people? Are they Sheikh or Siddiqi, kindly tell me in detail. 2. I know very…
- Ask Imaam16 Jan 2012
Can you give interest money to poor Muslims? The issue of “bondwoman”
1) Before Ramadan I had enquired about an issue somebody had asked me "In the Qurān when Allah says the women you get from right hand and Māl e…
Mufti Zaid Mohammed Shelia - Ask Imaam26 Oct 2011
Is it permissible to work as an IT technician for an Investment bank?
Is it allowed to work in an investment bank? my field is IT helpdesk. I am in a steady job but looking to move and would like to know whether I…
Mawlana Faraz Ibn Adam - Ask Imaam10 Oct 2011
Can an orphan use interest from his bank account?
My father passed away when I was 14. I am studying and I am unable to go for work. So we have an amount and we deposited it in bank and an interest…
Mufti Mouhammad Yassine Ibn Ibrahim Ibn Ismael… - Ask Imaam28 Sep 2011
Living in a house bought through a loan from the bank. 2. Earning money from business running with interest. 3. Going for Umrah or Hajj every year while involved in interest.
My father owns 2 businesses, business A being his main business and B being his second. Both run independently, one can servive without the other.…
Mufti Mouhammad Yassine Ibn Ibrahim Ibn Ismael…
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