Loans

Interest bearing loan

Submitted by user2 on Thu, 2017-11-16 07:06

Q: My question is about bank loans. What does Islam say about taking a loan when the bank describes the mark up at 19%?

Collecting money to give a loan to someone

Submitted by user2 on Wed, 2017-10-25 06:12

Q: Is the system of committee in which a huge sum of money is collected by members of a group and given to one person at a time and then this person has to pay back the money he received at monthly intervals lawful in Islam? What is it's ruling in shariah?

Receiving interest on a loan

Submitted by user2 on Thu, 2017-10-19 06:35

Q: My friend is asking me for Rs.100 for a business and he is telling me that he will give me the money after 1 week along with 2.3% of the Rs.100, that is after 7 days he will give me Rs.116. Can I take this Rs.116 or is it haram?

Moreover he is telling me how much you give me I will give you after 7 days with 2.3% of your invested money. Please clarify, if it is halal I will proceed otherwise I will not.

Taking out a mortgage loan

Submitted by user2 on Thu, 2017-10-05 08:13

Q: I would like to have complete fatwa on getting mortgage for personal home. Especially if your wife is more or less like a new Muslim and don't understand Islam very well. Can you go for a mortgage option or not?

Taking a loan from a bank

Submitted by user2 on Fri, 2017-09-22 07:09

Q: Can we take a loan from a bank in a gulf country?

Taking one's salary in advance and paying interest

Submitted by user2 on Thu, 2017-09-21 07:16

Q: Is it permissible to collect some money as a salary in advance from the bank that I operate with so that at the end of the month they will deduct the amount that I collected from them from my salary and some extra money as charge fee.

Loaning money on interest

Submitted by user2 on Wed, 2017-09-20 06:25

Q: Could you please explain to me what is interest, riba and usury. If one has the talent to do a halal business (by Allah) and no money, and other has money but he can't do business, the one who is giving the money to the first person for the business and asking him to give a profit of 50% and at last he should return his money. Does this come under interest/riba/usuary. If yes then how should the business situation be dealt with. What does one do if one did that, and falled in a loss.

Taking a loan

Submitted by user2 on Sat, 2017-09-16 07:25

Q: Is taking a loan a sin and if it is a sin then what is the punishment if the loan is taken?

Taking a loan

Submitted by user2 on Thu, 2017-08-17 06:53

Q: I am from India. Me, my husband and kids stay with my in-laws in their house. Can we take a loan for buying our own house.

Taking interest bearing loans

Submitted by user2 on Wed, 2017-08-16 08:45

Q: Can a Muslim take out a usuruous loan to support their family if they are living in conditions that are dangerous such as, if their home is being burglarized and living in a dangerous neighborhood filled with gangs and drugs? Is this a condition of zaroorah (necessity) or haajah (need)? Can one commit a major sin, dealing with Riba (Usury/Interest), in order to get his family away from these conditions. Please advise. 

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