Q: Is it permissible for me to lend someone money as a personal and ask for a profit in return. (The money will be used for business - I am not asking for a profit from the business).
The profit on the loan is fixed at 10% per annum. Then another 10% is added to the outstanding balance at the end of each year until fully paid. The term is fixed for 6 months to repay the loan.
Q: My brother is living in Saudi Arabia and I want to purchase a house in Pakistan. For that I need a loan from my brother of 75000 PKR per month from 2015 to 2018. The total amount he paid to me in this period is 2,400,000 PKR. Now in July 2023, he sent me the loan details which is extactly what I took from him but in addition that he wants all his money in Saudi Riyals as he sent this money from Saudi Arabia. Please guide me on this.
Q: My father borrows money from one of his friend in Pakistani rupees 2 Lac which was approximately 1235$ but at that time I was not in a condition to clear his debit and I take the responsibility to clear my father's due after some time. Now I'm stable to clear my father's due but now the price-hike of every thing. Should I pay my father's due according to pakistani rupees or $. My father too the money in Pakistani rupees.
Q: What is the ruling in Islam if a person borrowed money from a friend for a set time period and willingly wants to return the money with some extra amount?
Q: If one buys a car using the following method will it be permissible:
ABC person tells the bank to purchase the car from a dealer. A purchase & sale agreement is done between the dealer and the bank. Just say the bank buys the car for 100000 and then a purchase and sale agreement is made between the bank & I, that I purchase the car from the bank for 120000 fixed regardless of changes to the haraam interest rate. Theres 2 separate transactions. Will this type of deal be permissible?
Q: I took a loan of 8000€ 7 years ago from a couple of close family members for going abroad for education. At that time the Euro to PKR rate was 1€=114PKR. Now after a couple of years, I am capable of returning that amount and I returned the money to all of them except to one person. He sent the money to my father in Dirhims (4000 AED at that time which was equal to 150,000 PKR) so my father added these PKR to sponsor Euros for my education. Now 4000 AED equals to around 270,000 PKR.
Should I return the Dirhims with the current currency conversion or at the rate at which the money was borrowed?
I also returned the PKR on the same rate which I borrowed. For e.g. my father borrowed 400,000 for me from one person and I returned 400,000 PKR directly. But this is confusing as the person sent 4000 AED to my father at that time which equaled to 150,000 but now if I convert 4000 AED then PKR would easily be double. So my question is how much money should I return?
Q: A person gave a loan from his halaal money to someone with a mostly a halaal income. Later, the person who the money was lent to took a new job in which they earn a mostly haraam income. Is it haraam for the lender to be repaid by the person he lent money to?
Will such a repayment carry any of the spiritually destructive side effects of utilizing haraam wealth? And if there is any evidence from the ulama and fuqaha on this matter, then please share because I could not find anything about this online.
Q: As we always learnt that we should always keep in mind the virtues of actions in front of us whilst doing a good action and keep on checking our niyyat.
I would like to find out what is the reward of loaning wealth to someone that is in a financial situation to fulfill a need/necessity .
Q: I want to buy a computer for 8000 aed by credit card. My bank is offering 0 percent interest installments for that. But they are charging me a one time processing fee of 50 aed to convert the whole amount (8000 aed) into 3 months installments. Please let me know if this processing fee will be considered as interest or is it permissible.
Q: I'm buying a car from a bank as "Car Ijarah", but I have two confusions;
1. From which bank I buy a car as per "Car Ijarah", they also ask us to sign on the contract where the condition is "If I delay the monthly installment then I've to pay some extra money as charity" as per their saying, but Alhumdulillah we have a shop and we are sure that we will be able to pay all installments on the time or before the deadline. So If I sign the contract and pay all the installments on the time will it be halal to buy that car from the bank?
2. The bank also want us to pay some extra money in down payment for takaful insurance of that car because in the period of installments which is 2 or 3 years the car owner of that car will be the bank, and as per we believe that insurance is haram so can we pay that money also? Because the owner is bank and after the period of installments they'll gift us that car.