Loans & Debts

Q: Is credit card permissible in Islam? Please inform me regarding credit card usage.

Q: I had to pay some old due of my credit card. Can I pay that payment with the interest I received in my saving account?

Q: One of my colleagues asked me to lend him some money like 10 thousand which he wanted to use for his personal use. He said he would give me back 12 thousand in one month. I rejected his offer saying it is haraam. He asked me to buy him something like a computer for 10 thousand and he was ready to buy it from me at 12 thousand. But he would give me after 1 month. If he pays early, no discount and if he pays late, no extra money he will give but I can demand my money after 1 month. He purchased from me and he sold it in the market and got cash to satisfy his needs. Later after one month he gave me 12 thousand. Is the profit of 2 thousand haraam?

Q: Please assist help me understand the concept of helping someone to set up a business.

Scenario A:

Person A helps person B by lending the person R 10 000 for a business. Person A wants R 15 000 after 3 years (R 10 000 as capital and R 5 000 as profit). This is purely money lent to another person. Is this ribah?

Scenario B:

Person A buys a business for R 10 000 person B and then Person B pays off the R 10 000 (capital) + R 5000 (Profit) over 3 years. A business is bought and sold back to Person A. Is this Halaal?

Q: I would like to know that my child needs to go college next year but I would not be able to put up with all the cost because I have other children which go to private Islamic school. So I need to pay for their fees so is it allowed to get a student loan for the college child?

Q: We had lived in Oman for about 3 years and during our stay we took a credit card and used it at times of emergency rather seeking help from our fraternity as everyone cannot help financially especially abroad. Therefore we took it and returned the amount within 52 days which prevented any interest. However we moved to China and due to meagre amount of cash we took the credit card with us as a backup because we were going to Pakistan and then to China. The process took longer than expected. We had used the card at the airport and did some other transactions however my mother kept 400 OMR separate from the rest amount. As mentioned earlier the process took very long so although we had the money and were fully prepared to keep it separate but we could not really return in within 52 days as my father was in China and was settling down there and in Pakistan without a male the survival becomes quite daunting due to some family issues. So now here we are with the card in China and have the money and have exceeded the time limit. I inquired before and was told by you that if we pay only the principle amount and not the interest we would not be punished by Allah. So now we want to send the money back. I emailed them but got no reply. I did whatever I could to get in contact with them but could not. So my dad was telling my mother to keep the money because every bank has insurance and after the time limit exceeds they put the name of the customer in another category where they only want to recover the main amount not the interest. So he suggested that start a business with the amount of money. She has approximately 1 hundred thousand rupees which is 1 lakh and then repay the amount to the bank, the major amount not the interest from the profit she will get. My dad is a business teacher and knows all about businesses. The following are my questions:

1) Is it permissible for her to start a business with the money she has and then return the money from the profit she will get?

2) We could not repay the money within 52 days but we intend to and have the money till now and have not used it and only will pay the major amount not the interest, so will we be punished by Allah?

Q: If someone owes you money and does not pay you by the due date, is it permissible to charge him an extra amount as an administration fee or any other fee?

Q: What is the Islamic view on begging/borrowing money (for a short time) despite having money though the money he has is set for something which if he touches the money, he might not be able to use it for what it is intended for.

Q: Lets say person A borrowed money for person B. Then person B refused to pay back. Then person C paid the amount. Will person a still owe the debt islamically even though the debt is paid off?

Q: My husband is going for Hajj in September 18 Insha Allah and I'm going to my country three days before him that's means that in September 18 as I can not stay alone in UK without him so I will go to my country to stay with my parents until my husband comes back from hajj but the money my husband will give me to spend in my country is not enough and he does not have money for now so I decided to borrow from some body the money I will take with me but my husband told me you can not borrow money because if you do so my haj will not be accepted he said you can borrow only after I finish my hajj, is it true? Is it ok to borrow the money or shall I wait until my husband finishes his hajj and then borrow from someone in my country?