Interest and Gambling

Q: In India we have all transactions through our bank accounts. Is it against taqwa to deposit money in the bank? I never use interest but distribute it to the poor. 

Q:

1. Is opening a 'Shariah-compliant' savings account at a bank or at an 'Islamic' Bank with the sole intention of the bank safekeeping your money permissible if one intends to give all 'profit' earned in charity?

2. If one already has an investment account at an 'Islamic' Bank that claims to follow a Profit-and-Loss mode of financing, what should one do? Should we close down the account?

3. Is it against taqwa to save/invest money for the future?

4. What are the permissible means if one wishes to save/invest?

Q: Is it permissible to buy a life insurance policy, not so that my heirs can benefit from it; but merely to cover inheritance tax/estate duty that is so exorbitant that due to not having so much cash funds in the estate, essential assets such as the house in which the heirs live in has to be sometimes sold just to pay the estate duty? The heirs will be instructed that after paying the duty, the surplus must be given away in charity without intention of reward.

Q: If a person stays in a complex where they have an insurance policy, and every month a portion of the levies go towards that insurance, can he pay that portion with interest/doubtful money? He has already expressed his disapproval of the insurance, but since its a big complex his views are the minority.

Q: I recently read a fatwa that you issued with regards to eBucks. Jazakallah for the fatwa. I am struggling to understand one aspect and would like you please clarify it.

As you noted in the definition of interest, interest is “excess devoid of any compensation which either of the transacting parties is entitled to due to it being a pre-condition in that transaction.” So one of the conditions for interest is that it should be a pre-condition which doesn’t seem to be met in eBucks. FNB from time to time changes the amount of eBucks given, the reasons for giving eBucks etc. This shows it is not a pre-condition and it is not part of the contract as FNB from their side only modify it from time to time. If this was a pre-condition and part of the transaction it would require the consent of both transacting parties. Therefore, it seems that the definition of interest does not fit into eBucks. Please clarify.

Q: I read your article about eBucks being tantatmount to riba. My question is, if I have an Islamic Banking cheque acccount that earns a variable profit share and a credit card that I settle monthly in full on due date and hence pay no interest, is the ebucks earned still tantatmount to riba?

Q: In today’s times, we see many conventional banks offering different types of reward programmes in order to attract customers and promote their business. Among the reward programmes are the following; eBucks, uCount, Absa Rewards and GreenBacks. Similarly, certain conventional banks offer other incentives such as free access to certain airport lounges. Is it permissible for one to benefit from these reward programmes offered by these conventional banks or do the rewards offered by the bank enter under the purview of riba due to which they will be impermissible?

Q: Why is it impermissible in Shari’ah to take interest-bearing loans from the bank?

Q: In Indian Law the Honourable Court allows ex-wife to file maintenance cases after divorce from ex-husband of any religion if they want. I gave Talaq Ahsan to my ex-wife and relieved her from matrimonial bonds after reconciliation failed between us. I had handed over the Mahr money to her. Now Talaq Ahsan is completed. My ex-wife took all her belongings from matrimonial home.

Now my ex-wife filed a case in the court for maintenance, the Hon'ble court has passed Rs 10 000/- per month as part of maintenance. I am working as a sales executive and my salary is Rs 10 000/-, it is not possible for me to fulfill the court order based on my income as I have to bear my expenses too from the same salary. I will have to fulfill the Hon'ble court order in order to avoid jail term over non-payment.

I have approached many trust and some people for help to fulfill this order. The trust and people informed me that they can help to some extent not completely but it will be in a way of zakaat and some people said that they will hand me bank interest money. Can you please provide your views with respect to Islamic Law if this is correct to collect zakaat and bank interest money on behalf of my ex-wife to avoid consequences of jail?

Q: Why is riba condemned in Shariah?