Q: I always paid zakaat on monies people owed to me regarding this as an asset. My question after listening to this mornings audio (zakaat on waived debt), does this mean I do not have to pay zakaat on monies due to me from loans given to a friend, family until such time as the money is repaid to me.
Q: If a person is paying someone in instalments for a house. What should be done if the creditor passes away before all the instalments are paid? Who should the outstanding instalments be given to?
Q: I want to ask a question about qarz. Once when I was younger like 10 years old, I asked my friend for some money and he gave it but today I heard if you don't pay back the money, you are in trouble with Allah Ta'ala and are going to get punished after death but I am pretty sure that friend said he doesn't need the money and I don't have to repay him because he's my friend so do I still have to pay him his money back? It was like 1 pound only.
Q: Could you please explain to me what is interest, riba and usury. If one has the talent to do a halal business (by Allah) and no money, and other has money but he can't do business, the one who is giving the money to the first person for the business and asking him to give a profit of 50% and at last he should return his money. Does this come under interest/riba/usuary. If yes then how should the business situation be dealt with. What does one do if one did that, and falled in a loss.
Q: Can a Muslim take out a usuruous loan to support their family if they are living in conditions that are dangerous such as, if their home is being burglarized and living in a dangerous neighborhood filled with gangs and drugs? Is this a condition of zaroorah (necessity) or haajah (need)? Can one commit a major sin, dealing with Riba (Usury/Interest), in order to get his family away from these conditions. Please advise.
Q: My question is in business if some one lends money to other company for help and that company returns money very late but returns with extra money added. Should we keep that extra money or return? Please make a point that the lender got loss in business because of the borrower returning the money late.
Q: I work with a company and its operate a cooperative where any employee can be saving any amount from his or her monthly salary. And one can choose to collect loan and he will pay 10% interest of the amount he collected over period of time. Then at end of every year the 10% interest collected from those people that collect loan will be shared among the people that are saving money in the cooperative including those that collected loans and paid the interest. So my question is; is the transaction halal and the interest one paid and received?
Q: Is it permissible for a Muslim to take loans for their business or making homes of their own?
Q: Sending this on behalf of someone: If I buy a property and the bank finances it and I pay a set amount plus interest every month to the bank, is it halaal or haraam?
Q: I am from India. We are three bothers and we have only one home. With the grace of Allah (Ta'ala) coming year I will get married. So, I was thinking of buying a home. As I don't have enough money. I need to take a loan. But here in India we don't have Islamic banking. And I don't have other means to get that required amount. What is best for me? As there is Riba involved if I want to buy a flat from the banks which follow non-islamic banking.