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 41 of 44
- Ask Imaam10 Apr 2003
1.Musical in Islam? 2.Photographers in Mekka / Medina? 3. Are prawns haraam? 4. Method of handling and disposal of papers containing Muslim names 5. Interest
Assalamualaikum 1. Please advise which musical instruments are permissible in Islam? Is it permissible to listen to Yusuf Islam , Zain Bhika etc. 2.…
Mufti Ebrahim Desai - Ask Imaam1 Apr 2003
Is it permissible to use Interest money earned on an account to offset bank charges from the same account?
It will not be permissible in Shari?ah to offset this annual fee against the interest accrued to the card holder in the same bank. The reasons are…
Mufti Ebrahim Desai - Ask Imaam1 Apr 2003
I ran out of money and couldnt pay for my fees. Now the university is charging me interest. Is it allowed for me to continue studying and pay the fees later with interest ?
I am a student in North America.This semester I ran out of money and couldnt pay for my fees. Now the university is charging me interest. 1. Is it…
Mufti Muhammad Kadwa - Ask Imaam11 Mar 2003
Shares obtained from banks...I cashed my free shares a while ago, however I am not sure whether this money is hallal or not, if not then what can I do with it?
Some time ago, a building society that I used to save money changed to a Bank. On doing so the bank gave its customers who had a certain amount of…
Mufti Ebrahim Desai - Ask Imaam5 Mar 2003
I live with my mother and she has a very low income, now I know interest is prohibited, but is it okay for us to receive interest from banks only up until I get a job?
I would appreciate if you answer these questions: 1.) I live with my mother and she has a very low income, now I know interest is prohibited, but is…
Mufti Ebrahim Desai - Ask Imaam3 Mar 2003
I hope the stock goes up so I can regain my money. But I havent taken out the interest in it. Can I throw the interest out by throwing away my spare money and keeping my stock money?
I have been doing investing with $2000.00 for about a year. I have made many transactions. My brother told me told me a small amount of interest…
Mufti Ebrahim Desai - Ask Imaam2 Mar 2003
Below are two links, www.meezanbank.com/dollar.asp, www.meezanbank.com/dollar-fatwa.aspIf you please check the site and find out the authencity of this bank
According to our information, Meezaan Bank is checked by Mufti Ashraf who is the son of the renowned scholar, Mufti Taqi Usmani Saheb of Darul…
Mufti Ebrahim Desai - Ask Imaam28 Feb 2003
Is amount of rent of flat from bank salary halal?
We have a flat in an apartment that we give on rent and use that money for our expenses. This month that flat was vacated and daughter of our friend…
Mufti Ebrahim Desai - Ask Imaam19 Feb 2003
One ustad was telling me that the money from interest cannot be eaten at all,either by us or another person. Could you please explain differences of opinion between syafii,and hanafi
One ustad was telling me that the money from interest cannot be eaten at all,either by us or another person. Could you please explain differences of…
for: Mufti Ebrahim Desai - Ask Imaam11 Feb 2003
DEAL WITH BANKS ?
Assalam o alaikum: We are a web-consultants. We would like to know whether the following deal with the banks is permissible or not: We will provide…
for: Mufti Ebrahim Desai - Ask Imaam11 Feb 2003
We are a web-consultants. We would like to know whether to deal with the banks is permissible or not:
We are a web-consultants. We would like to know whether the following deal with the banks is permissible or not: We will provide the bank with…
for: Mufti Ebrahim Desai - Ask Imaam11 Feb 2003
Is the setting of prices different to the market price (incl. murabahah) halaal? The ‘murabahah’ method of financing done by modern ‘Islamic’ banks is a branch of riba
Moulana Imran Hosein says the following:The ?murabahah? method of financing done by modern ?Islamic? banks is a branch of riba. He gives 2 reasons…
for: Mufti Ebrahim Desai - Ask Imaam6 Feb 2003
1) Investment Banking 2) Fasting in the month of Dhul Hijjah 3)Piercing Ears 4)Making up for missed fasts
1)Is Investment Banking halal, if there is said to be no interest involved? I am not very well versed with business matters in the light of Islam,…
Mufti Muhammad Kadwa - Ask Imaam30 Jan 2003
Meezan Bank Limited is promoting itself as a riba-free commercial bank in Pakistan. Can I invest my savings in its Mudaraba & Musharika accounts?
Meezan Bank Limited is promoting itself as a riba-free commercial bank in Pakistan. Can I invest my savings in its Mudaraba & Musharika accounts?…
Mufti Ebrahim Desai - Ask Imaam22 Jan 2003
Are muslims allowed to work in South African banks. Can a Muslim man use the money he saved while working in a bank that thakes interest for haj.
Conventional Banks are obviously engaged in interest bearing transactions. Allah Ta?ala says in the noble Qur?aan, ?And do not aid in sin.?…
Mufti Ebrahim Desai - Ask Imaam24 Dec 2002
If someone charges something on my credit card promising that they will pay within the due date and they don't, will I be liable for the interest that I pay on their behalf
This question has been bothering me for a long time. If someone charges something on my credit card promising that they will pay within the due date…
Mufti Ebrahim Desai - Ask Imaam20 Dec 2002
Is it permissible to give interest money to the poor?
A friend of mine has recently started a scheme which encourages muslims to give to the poor through his organisation. Is the use of this money in…
Mufti Ebrahim Desai - Ask Imaam4 Dec 2002
1) Can I ask a Bank for my Interest without having the Nya of spending it for myself but for giving it as a Charity?
1) Can I ask a Bank for my Interest without having the Nya of spending it for myself but for giving it as a Charity?
Mufti Ebrahim Desai - Ask Imaam28 Nov 2002
Now a days with new rules and regulations he is unable to do so. Now he cannot do business with his cash funds without involvement of bank. In this situation is it permissible involve bank?
If one has enough funds that he can do business without getting any loans from bank and he wishes to do so without involving interest from bank (and…
Mufti Muhammad Kadwa - Ask Imaam23 Nov 2002
I have a tamil neighbour who buys fruit/sweets for our children. She assures us that she buys only halaal. She also has an interest acc at ABSA. Can my children consume her food?
This good offering of your neighbour should be welcomed. You should use this as a means of getting them closer to Islam. We suggest you educate your…
Mufti Ebrahim Desai - Ask Imaam11 Nov 2002
Gifts from a person whose income is haram... One of my friend works for bank (involved in the interested based business),
One of my friend works for bank (involved in the interested based business), what should i do if that person send me a gift (like food item etc). Is…
- Ask Imaam11 Nov 2002
Is it permissible for a muslim to work as a loan officer in a bank which is owned by non-muslims,the bank give loans which is payed back with certain interest.
Such employment in banks of this nature is prohibited. and Allah Ta'ala Knows Best Mufti Muhammad Kadwa FATWA DEPT.
Mufti Muhammad Kadwa - Ask Imaam4 Nov 2002
Are Muslims allowed to operate and own businesses, if interest is needed to get them up and running (and almost all businesses need interest to start off unless the business is paid for in cash).
1. I understand that under major islamic opinion muslims in the west and american are entitled to purchase one house with interest for the sake of a…
Mufti Ebrahim Desai - Ask Imaam23 Oct 2002
my father has taken loan from bank for my sisters marriage because we had no other alternative please tell me what dua should we offer to pay back the loan
Q: Kindly explain to us the benefits of Verses 26 - 27 of Surah Aale Imraan. A: It is narrated in Tabrani that once Rasulullah (Sallallaahu Alayhi…
Mufti Ebrahim Desai - Ask Imaam14 Oct 2002
I'm starting a Finance Company. The funder is lending money interest free. What do i need to follow in obtaining money? he wants to charge a fee for use of the money provided
the money is being lent to me by a non-muslim interest free, and he wants to charge a fee for use of the money provided. The fee will be an ongoing…
Mufti Ebrahim Desai - Ask Imaam1 Oct 2002
1) My grandmother have been using the money of a National Saving Scheme (interest) for nearly 5 years. Should I give in charity, the amount of money she had used from the scheme... ?
Now that I have grown up and have a reasonable job, I can easily support her. Should I give in charity, the amount of money she had used from the…
Mufti Muhammad Kadwa - Ask Imaam20 Sep 2002
I would like to know if I can pay off the interest of my mortgage with interest received from my savings 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 Imaam28 Aug 2002
I want to know wether it is jiaz to work for a firm that audits the books of a bank, i dont work for the bank.
It is permissible. and Allah Ta'ala Knows Best Moulana Imraan Vawda FATWA DEPT. CHECKED AND APPROVED CORRECT: Mufti Ebrahim Desai
Moulana Imraan Vawda - Ask Imaam27 Aug 2002
Did Working in Foreign Development Projects in a Muslim Country is permissible? UNICEF, UNHCR, UNDP, World Bank, USAID etc
Reference my previous question # 6433. You need more detail. There are several projects funded by UNICEF, UNHCR, UNDP, World Bank, USAID etc. are…
Moulana Imraan Vawda - Ask Imaam24 Aug 2002
I have a contract with an auditing firm. Is it permissible to audit financial institutions eg. banks and transactions involving financial instruments eg. Options, Forwards, etc.
Stock Options By Mufti Taqi Usmani ------------------------------------------ Q.) I need to know if the following share trading is permissible in…
- Ask Imaam20 Aug 2002
As an Imam should withold certain information, for example.....Am I obligated to tell the male that is interested in this female about her experience
I am an Imam and Hafiz. A lot of people in my community come to me and ask for advise. I try to be thorough and helpful as possible. At times it can…
Mufti Muhammad Kadwa - Ask Imaam9 Aug 2002
can u pay off the installments of your vehicle that was stolen with interest money
my friends vehicle was stolen due to a hijacking and was never recovered. Insurance refused to pay because he did not have a satelite tracking…
Moulana Imraan Vawda - Ask Imaam18 Jul 2002
I have cancelled my saving insurance and am I have cancelled my credit card and I am trying to pay my credits. But I want to know how can I make up for this?
I have read that taking or giving interest is a grave sin. How can I then make up for this because I did take interest through life saving insurance…
Mufti Ebrahim Desai - Ask Imaam18 Jul 2002
What should I do with a flat which I bought with an interest-carrying home loan? Is it permissible to pay it off as quickly as possible or should I sell it immediately to rid myself of riba?
My wife and I bought the flat that we stay in using a bond from a bank. I have since learnt the great evil that riba is. What should I do now? Some…
Mufti Muhammad Kadwa - Ask Imaam20 Jun 2002
Finance from Albaraka Bank - one of their pre-requisites is that one has to have house-hold insurance
Assalamu Alaikum Mufti Saheb I have enquired previously regarding finance from Albarakah bank . I wish to use their service as I do not want to pay…
Mufti Ebrahim Desai - Ask Imaam18 Jun 2002
Shariah based financing will soon start in our state. can we sign purchase agreement through a conventional bank using interest-based mortgage and later refinance with Shariah financing company
Respected Mufti Saheb, As-Salam Alaikum. The Shariah based home financing company will soon start their operation in our state. They are waiting…
Mufti Ebrahim Desai - Ask Imaam11 Jun 2002
I have asked same question (ref: 5178) to different muftis ad scholars in our country and according to all of them job in any department of bank and any type of work in bank is haram
According to them even job of peon and guard is haram. Please clarify or correct me with reasons.
Mufti Ebrahim Desai - Ask Imaam4 Jun 2002
If a customer wishes to pay me in my bussiness by the use of his credit card, will that be permissible?
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 Imaam4 Jun 2002
Another related to #4086 - Many like me in USA would like to take home financing from LARIBA, but are hesitant
2. Question on Agreement Format: LAriba requires the clients to sign the financing agreement on the standard Loan Application "format" approved by…
Mufti Ebrahim Desai - Ask Imaam30 May 2002
I intend buying a house through Albarakah bank. Is their form of finance in accordance with Shariat ?
Assalamu-Alaikum Mufti Saheb I intend buying a house through Albarakah bank . Is their form of finance in accordance with Shariat ? Was Salaam
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.