Interest and Gambling

Q: Where can I spend bank interest money, cashbacks, etc.? Can I donate this money to charity?

Q: My question is about the UK student loans. I took out the loan to go to university not knowing back then that it was haraam. The UK student finance does't require you to pay anything back until you earn above a certain amount. However it does start taking interest from day one of the loan being given. I have now started a job and will have to pay back the loan which is taken out of my salary every month. 

My question is whether it is better for me to try and save up and get rid of the loan as soon as possible or is it ok if I continue paying as it is as the loan gets wiped off after 30 years. Either way I am paying interest.

The first option means I get rid off my debt as soon as possible, whilst the second one means that I may end up not even paying back as much as I borrowed as the loan gets woed out after 30 years. Whilst pursuing the second option I would contribute more to charirty inshaAllah. I need advise on which path is better.

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.

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?

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?

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?

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.

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?

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?

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?