Interest and Gambling

Q: Few common bank related queries:

1) Zaid had a debit card with Conventional Bank International for many years. Later on the bank introduced a points system of rewarding the users of the debit card for the purchasers made with the card. The value of points awarded have no relationship with his bank balance and therefore its not given as a benefit of a loan made. The bank receives a commission from the supplier for every purchase made by the purchaser and in turn filters some of the benefits back to the purchaser via a points system. Will these points be permissible for the cardholder to use.

2) Some scholars view deposits held by the bank as qabda of amaan with the ijaazat of tasarruf. Does hazrat agree with this?

3) Is it permissible to accept gifts in general from banks.

Q: My dad bought a phone on a credit card. If the bill is payed within 54 days then no interest is charged. However my dad couldn't pay the money within that time so now the total bill is 95 rials whereas the phone's price was 85 rial. Now we want to get rid of this card but we have to pay the bill to finish off the sunscription. So please guide us.

Q: A month ago my dad bought a phone on credit card. And if we pay the money used within 54 days then no interest charged. However my dad couldn't pay and now the time period is over for no interest. So now next Friday according to him he will pay. But now is there any way of avoiding interest. He only bought a phone he uses and nothing else. Please help us out and tell us how can we get rid of this card.

Q: I would like to know if interest (ribaa) money can be used to pay off debts? Can it be given to a Muslim to pay off debts owing to a Muslim? The person with the debt cannot afford to pay off the debt.

Q: Can I take a pension policy from LIC?

Q: My question is that we are in USA and can not buy a home on cash because it is impossible. So because of compulsion can we take a loan from the bank due to compulsion?

Q: I live in Durban SA. I am from Punjab India. I want to know if it is permitted for me to take SA funeral policy to pay for funeral if something happens to my family here. In India we have society to pay every month, when there is a jannazah, the society gives you money to pay for the funeral. Is it ok for me to do the same here in SA?

Q: I bought a car of Rs312000 by bank finance now I have to pay the bank Rs 453000. Rs 5300 per month upto 7 years.  Now I realised that I have committed a great sin and every moment I am in tension because of this sin and I have no means to pay the whole amount as early as possible. Now what should I do for attainment of this sin.

Q: My father gave some money to a broker for land so some how my father can't get the land so the broker said that he will return the amount which he has took from us but after 1 year he gave some amount from the total amount. After that my father told him why don't you return all my money but he said that he couldn't give the full amount at once because he used the amount in his business. But he said (if we don't demand it) he will return our money with interest of 2.5%. So my question is, is it permissible to take the extra 2.5%?

Q: For what purpose can we use interest from bank?