Q: One of the banks in my residence country is offering a short term interest free loan. I am only interested in using this loan because it is interest free. It has a fixed processing fees (1 % of the amount of loan) and a onetime fixed insurance fees to be paid. Can you please advise, if it is alright to utilize this loan.
Q: I have a saving account and the bank is giving interest on my account every quarterly. Is the interest haram in shariyah? Accordingly to shariyah, what should I do with that money? Can I donate it to poor people or give it to poor and needy needy relatives?
Q: My question is that mostly banks are offering loan with interest (riba). If any bank offers riba free loan, than is it right according to Shari'ah?