Paying off a bond with someone's interest money
Q: Person A has a bond on his home (home loan). Person B has interest money. Can person B give this interest money to person A to pay off his bond.
Interest and Gambling
Cash backs and discounts when using a credit card
Q: A few months ago, a technology company that makes and profits off smartphones and other devices (Apple) partnered with a US bank to offer a credit card.
The bank is responsible for all of the banking aspects, and the credit card is like any other one from a consumer perspective, offering cashbacks and rewards for certain purchases. However, these rewards are decided by the technology company, not the bank, such as discounts when purchasing that company's own products.
Given the the card is offered by a technology company, it's possible that the company pays for the difference instead of the bank. This would mean that unlike traditional cards, this one may not be paying for the discounts using interest earnings. Would using the benefits of this credit card be permissible?
Charging a service fee for lending money
Q: Is lending money by a Muslim for a standard service fee halaal? If not, what is the permissible way of a Muslim lending money?
Disposing of interest money in one's bank account
Q: I have a savings account in a bank in India. Every 3 to 6 months different amounts of interest money is credited to my account.
1. Can I give this money to a poor man without seeking thawab?
2. Can I give it to repair or maintain the toilets in a masjid?
3. Can I use it for maintaining or cleaning the road infront of my house?
4. Can I use the interest money to maintain the minimum balance in my account?
5. Can I use the money to pay the annual bill collected for using the debit cards?
Claiming from the UIF Fund
Q: Is it permissible for an employee to claim from the UIF Fund or is it like an insurance plan? Kindly explain the status of this fund.
Helping someone in financial problems with haraam money
Q: I have a friend who is in financial trouble, he has to repay a huge amount of a loan. I know one person who has won some money in a bet, he wants to use the bet amount to help someone in need and does not want to use it for himself.
Is it permissible to use the bet amount to help someone in need without any intention of sawaab?
Receiving a prize in a lucky draw from a bank
Q: I am living in United Arab Emirates (Abu Dhabi). Here, there is a scheme available in the Banks by the name of "National Bond". In this scheme, I have to buy some bond with the minimum of 5000 Dirhams. This 5000 Dirhams will always be with the bank until I withdraw it. Every month the bank will have a lucky draw and the winning price will be 100 000 Dirhams or 1 Kg of gold, etc. If I withdraw the 5000 Dirhams then I no longer qualify to participate in the lucky draw. Is this halaal or haraam in Islam?
Assisting someone pay off an interest bearing loan
Q: My father bought a house through the bank on an interest bearing bond. He got into financial difficulty and needs my help to repay the loan. If I help him to pay the bond, will I be rewarded for it or will I be sinning for paying interest?
Disposing of interest money accumulated by a body corporate
Q: I would like to query the issue below:
I am part of a body corporate of a complex based. The body corporate has been in place for about +/- 12 years and it has been run by the Muslim men of the complex. The complex comprises of various owners, Muslim and non-Muslim.
We have recently moved our banking over to FNB Islamic banking. Prior to this, we have accumulated an amount of +/- R22 000 interest money which we had kept aside after the move to Islamic banking. The body corporate is non-profit and we only act in the best interest and upkeep of the complex.
We as the body corporate would like to query if it is permissible or not to use this interest money as this money belongs to the complex which comprises of Muslim and non Muslim owners. We as the body corporate are held liable for the money of the complex.
The investment account which the interest was accumulated from was only opened as this is a law according to the CSOS act which is government regulated.
Please advise the correct manner/s in which this interest money should be dealt as we would like to make the correct decision going forward.
Receiving cash back or discounts when purchasing with a credit card
Q:
1. When purchasing goods via a credit card, I received 1 rupee on every purchase of 200 rupees. Is this permissible or not?
2. Different offers are available on credit card and easy paisa accounts everyday. If we purchase and make some payments and order some food via the credit card and easy paisa account, then we will receive a special discount or cash back. Is this permissible or not?
If this is "sood" then what is best use of this amount.