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 40 of 44
- Ask Imaam8 Jan 2004
Is it permissible to work as a computer programmer in the IT department of a bank bearing in mind that I do not come into contact with any interest transactions ?
It is prohibited in terms of Shari?ah to take up a job at institutions such as banks. Although banks have other sources of income, but due to…
Mufti Ebrahim Desai - Ask Imaam19 Dec 2003
1.I am currently paying investors based on my year-end profit margin around 10%? 2.Investor is demanding that 10% per month? 1. Is profit sharing Riba. 2. Is the investor right in his demand?
The second investor is the freight forwarder who initially wanted me to pay $100 per shipment without knowledge of his employer. I told him that is…
Mufti Ebrahim Desai - Ask Imaam12 Dec 2003
i am working in a sftware company and we are doing a banking project; please tell me is it haraam to continue with this job?
i am working in a software company. and we are doing a banking project about credit and collections. i am the incharge of user, employees, and…
Mufti Ebrahim Desai - Ask Imaam5 Dec 2003
1-job in Non muslims country . 2-My father is retire but he could do bank job we eat Haram money till now and live in a house which made in haram money
1- I live in a muslim state. if I went a non-muslim state for doing earn money so that money is Halal .or if I went for study and doing job with…
Mufti Ebrahim Desai - Ask Imaam1 Dec 2003
I borrowed money from a bank, didn't know it is haram but can't pay it off, what can I do?
I hav few questions : 1- I borrowed some money £5500 from a bank about 7 months ago but i didn't know that it is haraam, what do I hav to do knowing…
Mufti Ebrahim Desai - Ask Imaam18 Nov 2003
Buying a Car on a fixed installment ...According to the bank (reserve bank laws) I have to insure this financed car. Would it be ok to then accept it with insuring the car?
1)A bank is willing to finance me for a car at a fixed rate over 48 months. The rate is calculated at a percentage (2% over prime) and remains fixed…
Mufti Muhammad Kadwa - Ask Imaam27 Oct 2003
I am in need of a job and a position is being offered to me in a company which is involved in making softwares. Softwares that help banks and other companies monitor their client’s credit ...
Softwares that helps banks and other companies monitor their client?s credit and payback history. In view of this, it deals in helping banks in…
Mufti Muhammad Kadwa - Ask Imaam20 Oct 2003
Can interest money from a government institution be used for paying taxes?
As-Salaam-u-Alaikum. I have a query with reference to your answer for Question 9750. It was stated in the answer that interest monies received from…
Mufti Ebrahim Desai - Ask Imaam14 Oct 2003
Can you please tell me what’s the Islamic ruling on re-paying the “student loan with high interest” that was borrowed from Govt. of Canada specifically for educational purposes?
I have a very quick question for you. I am from Brampton-Canada and a recent graduate of Humber Institute of Technology and Advanced Learning,…
Mufti Ebrahim Desai - Ask Imaam29 Sep 2003
1. Can interest money received from a bank be disbursed to simply anyone? (Instead of giving it to those eligible to receive Zakat without the intention of getting reward)
Interest monies must be given to the poor and needy who are eligible to accept Zakaat without the intention of reward. However, interest received…
Mufti Ebrahim Desai - Ask Imaam28 Sep 2003
I put some money in bank in India now bank is paying interest what can be done with it. 1. In India can I give it to some poor deserving needy Muslim student to pursue their education?
Sir I put some money in bank in India now bank is paying interest what can be done with it. 1. In India can I give it to some poor deserving needy…
Mufti Ebrahim Desai - Ask Imaam28 Sep 2003
Question concerning interest money and building a wall for a daruloom. someone is willing to give interest money that they have earned from the bank on their money to fund the wall building.
We have a dilemma. We are building a daruloom in Congo along with a Mussala to pray. We have enough funds for this project. For security reasons, we…
Mufti Ebrahim Desai - Ask Imaam24 Sep 2003
I want to know if it is permissible to finance a house or a vehicle from the bank. I heard it is permissible according to some ulema.. please give a detailed explanation..
Finance obtained through conventional banks is based on gambling and interest, hence, not permissible. However, there are banks in South Africa that…
Mufti Ebrahim Desai - Ask Imaam3 Sep 2003
As u know very difficult to escape from interest in today's delaings. Is sharia has classifed any exceptional conditions for interest. If so, pls.specify?
It is true that the world economy is infested and saturated with interest. In spite of that, Allah Ta?ala has made interest Haraam (strictly…
Mufti Ebrahim Desai - Ask Imaam29 Aug 2003
Kindly inform me if the 'profit' obtained from Albaraka Bank Participation account is Halaal?
Hereunder is a response from Ebrahim Vawda of Al-Barakah Bank Albaraka Bank Limited accepts deposits on a mudharabah basis. The funds are invested…
Mufti Ebrahim Desai - Ask Imaam12 Aug 2003
1)Being that I live in Canada, and every car -must- have car insurance, and every car insurance company deals with interest, what can I do?
Asalamu Alaikum Mufti Ebrahim Desai? My name is Ahmed Alamelhuda. Being that I live in Canada, and every car MUST have car insurance, and every car…
Mufti Ebrahim Desai - Ask Imaam11 Aug 2003
what about cashing your credit card you have to pay a charge of 1.5% . is that interest . plz reply asap i have to pay my college fees (they accept cash only).?
Q: Is it permissible to use a credit card facility? A: Yes, it is permissible to use a credit card facility. However, a credit card holder should…
Mufti Ebrahim Desai - Ask Imaam30 Jul 2003
Can you please list any Interest free Sharia compliant Loans or mortgage companies or institutions in the United States other than HSBC bank? Guidance Financial ??
Recently, my mother in law advice me to purchase a house and she would help me by providing me with a large down payment. I told her to be patient…
Ml. Imraan Vawda - Ask Imaam24 Jul 2003
Car financing schemes that are being offered by banks nowadays...people argue that since we are using the car, extra money charged by banks is there to compensate for depriciation.Is this correct?
people argue that since we are aslo using the car therefore the extra money charged by the banks is there to compensate for the depriciation.Is this…
Mufti Muhammad Kadwa - Ask Imaam23 Jul 2003
Is it allowed to give loan to a person(without interest) to a person who has already taken a loan with interest
Assalamu alaikum Mifti saheb. My father-in-law recently took housing loan from a bank(on interest).Bank gave only Rs.3 lacks. The house he bought is…
Mufti Muhammad Kadwa - Ask Imaam4 Jul 2003
Is the al-azhar university in cairo sahih as it had given the fatwa that money from bank is halal and also a film has its fatwa on it and now it has accepted fiqah jafriya as a 5 school of thought.
Kindly refer below a reply by Mufti Taqi Usmani Saheb on the subject matter: and Allah Ta'ala Knows Best Mufti Ebrahim Desai FATWA DEPT. I have not…
Mufti Ebrahim Desai - Ask Imaam3 Jul 2003
What can u do if your interest?
The interest that the bank give u every month is possible to use it to pay traffic fines; parking; etc..
Mufti Ebrahim Desai - Ask Imaam3 Jul 2003
is it permissible to use the interest earned from a govt.bank to pay the income tax levied by this kuffar govt?
is it permissible to use the interest earned from a govt.bank to pay the income tax levied by this kuffar govt?
Mufti Ebrahim Desai - Ask Imaam26 Jun 2003
1: Can we get insured us by taking life insurance policy?2: we rarely find intrest free banking ,the salary that a banker draws from his job is hallal?
I have questions : 1: Can we get insured us by taking life insurance policy? 2: we rarely find intrest free banking ,the salary that a banker draws…
Mufti Ebrahim Desai - Ask Imaam24 Jun 2003
1.Can my interest money be given to poor then taken back to use in our mosque. 2. I have low sperm, doctor says to do I.V.F. Is their any other way?
2. I have low sperm, doctor says to do I.V.F. . Is their any other way? (food, or special dua). me and my wife is very depressed.
Mufti Ebrahim Desai - Ask Imaam23 Jun 2003
Is it permissible to pay UIF(unemployment insurance fund money) with interest money?
It is not permissible to use interest money to pay UIF for one?s personal self. It may be used to pay on behalf of one?s employee who is poor and…
Mufti Ebrahim Desai - Ask Imaam19 Jun 2003
I would like to know about getting interest-bearing loans in order to attend Medical School or Law School. Is it permissible to obtain such loans?
There is no other way to finance my studies. I want to help the community by becoming a lawyer or doctor. My family is not blessed with a lot of…
Mufti Ebrahim Desai - Ask Imaam19 Jun 2003
Questions regarding the disposing of RIBA...1. Is it permissible to use RIBA money to renovate & upgrade the living quaters of my servants/maids.
I would like to clarify the fiqh regarding the disposing of RIBA specifically : 1. Is it permissible to use RIBA money to renovate & upgrade the…
Mufti Ebrahim Desai - Ask Imaam19 Jun 2003
Is it haraam to lease a car? If 0% financing is available, is that haraam? If my father is paying for a financed vehicle (with interest), is it still a sin on me to drive it?
Assalaamu Alaikum, My question is regarding the purchase of an automobile. My current situation is that I need a car to travel back and forth from…
Mufti Ebrahim Desai - Ask Imaam13 Jun 2003
I need you to examine my research on LARIBA Islamic Financial institution. Will it be permissible according to Sharia to purchase a house with LARIBA
Here are the facts: 1. LARIBA NEVER starts from Interest Rates. Our Model starts with the actually surveyed market rent of a similar house/property…
Mufti Ebrahim Desai - Ask Imaam1 Jun 2003
people have stopped going to khankah and many don't have the knowledge of tasawwuf, plz prescribe some methods that this interest can be brought in ummah
1) Now a days people have stopped going to kwankah and also many don't have the knowledge of tasawwuf, now plz prescribe some of the methods that…
Mufti Ebrahim Desai - Ask Imaam30 May 2003
Can a muslim work in a Conventional Investment Company (Not a Bank)...If you look at the financial of any company, Interest Income (RIBA) is found almost every where,
I have been working in a pure Islamic Investment Company for the Past 9 years and thank Allah always for my earnings. I have recently been offered a…
Mufti Ebrahim Desai - Ask Imaam28 May 2003
Is it permissable to offset your transaction fees from a bank with interest earned in the same account?
Interest monies must be given to the poor and needy who are eligible to accept Zakaat without the intention of reward. However, interest received…
Mufti Ebrahim Desai - Ask Imaam17 May 2003
If someone doing job for education fees no other way of income whats he gona do? I read on your website its haram to work in banks?
Actually i m doing job in bank i have no other way of income for paying my education fees.I m still looking for another job but its not easy to…
Mufti Ebrahim Desai - Ask Imaam10 May 2003
Is it permitted to give money earned from interest towards marriage of Aunt's daughter (mothers side) as they are poor; we are not expecting any sawab from this.
Is it permitted to give money earned from interest towards marriage of Aunt's daughter (mothers side) as they are poor; we are not expecting any…
Mufti Ebrahim Desai - Ask Imaam6 May 2003
Can we use a credit card and then cancelling it after paying the money back
Can we use a credit card and then cancelling it after paying the money back (without paying any interest) ?? ??. I meant by cancelling it just to…
Mufti Ebrahim Desai - Ask Imaam28 Apr 2003
Can Interest earnings be used to buy extra gratuties for your domestic employees without intention of reward?
If, after u have fulfilled your obligation to your domestic employee by remunerating them with halaal earnings,can u thereafter buy them additional…
Mufti Ebrahim Desai - Ask Imaam16 Apr 2003
Presently my brothers are in banking profession too. Q1. Is the money halal now? Am I obliged to earn money while studying in Madressa or should I start earning after the completion of my studies?
My late father was a banker. Presently my brothers are in banking profession too. Lately I?ve joined madressa while quitting my job of teaching. Now…
Mufti Ebrahim Desai - Ask Imaam11 Apr 2003
If my family is dealing with some interest-related transactions in the family business then will I be eating Haram also?
I'm a 22 year old student and am currently dependant upon my family in terms of expenditure etc. What can I do to prevent them & myself from the…
Mufti Ebrahim Desai - Ask Imaam10 Apr 2003
I need to buy a car. Albaraka Bank's pre-Requisites I cannot meet as I do not have so much to put down as deposit. will it be permissible to take a bank loan on interest?
I only have a 10% deposit for a car that's R50000. Is there any one other bank that will assist me without interest besides Albaraka ?
Mufti Ebrahim Desai
Read-only index of fatawa already published by South African Darul Iftas, each linked to its original. Not a fatwa service — for your own situation, ask the issuing Darul Ifta.