Interest and Gambling

Making taubah for taking an interest loan

Submitted by user2 on Wed, 2022-06-22 08:09

Q: If a person, who in ignorance, took out an interest loan, thereafter realized his sin, made sincere taubah and made a promise to Allah never to take such loans again. However he still has the debt/loan to pay off and he doesn't have the full amount to settle it. Now going forward, does he still fall under the curse of Nabi (salallahu alayhi wa sallam), as he still has to pay off the loan and he will still be paying interest? Please advise whats the way to correct the situation.

Opening an interest-bearing account with the only intention of donating the interest to a non-Muslim cat feeding organization

Submitted by user2 on Wed, 2022-06-22 07:55

Q: Is it permissible to open an interest-bearing bank account with the only intention of donating the accrued interest to a non-Muslim cat feeding organisation?

Taking out mandatory covid insurance

Submitted by user2 on Sat, 2022-06-11 07:39

Q: If someone wants to visit their family and friends living in a country which requires the covid insurance (small amount like $40) which is mandatory at the time of entry, is it allowed?

Taking an interest bearing loan to save oneself from paying tax

Submitted by user2 on Thu, 2022-06-09 07:38

Q: A person deals mostly in cash and does not deposit in the bank in order to avoid showing too much income and paying exorbitant amounts of tax to the government. However, he cannot purchase large items such as properties and cars etc as it has to be done with "legal" money.

The only way out for him will be to take a loan from the bank in order for his purchases to be recognized legally. He will offset the interest payable with the interest he receives from his bank account.

Can this be a valid excuse to enter into an interest bearing loan with the bank?

Paying a monthly levy that includes insurance

Submitted by user2 on Sun, 2022-02-13 07:47

Q: Over the past years, I have saved sufficient money that would allow me to purchase a small apartment. Whilst negotiating I noticed that the monthly levy that I will pay is used to cover the insurance of the apartment and cannot be removed.

1. Am I allowed to purchase this property and make the monthly levy payments?

2. If it is permissible for me to purchase, live in the apartment and make the levy payments, would I be allowed to make claims against the insurance for items covered by them like, burst geyser, etc.?

Car dealership helping the customer acquire a credit facility with interest

Submitted by user2 on Sat, 2022-02-05 08:06

Q: Is it permissible to own a car dealership whereby you sell cars to customers borrowing money from the bank and are paying interest?

From my understanding, even to witness the transaction is a sin. In this case we may be encouraging it to make a sale and helping the customer get finance. Is the profit from the sale halaal?

In some instances the banks give the dealers a kickback for arranging the finance with them, would this money be halaal?

Faking an accident and claiming from the insurance company

Submitted by user2 on Thu, 2022-02-03 11:01

Q: A while back a friend invested in a car but got financially stuck and became maqrooz of many people. Another friend of his suggested to insure the car via Takaful and get the money through them.

So the process would go like this, for a while the car was insured and then after 3 or 4 months they faked an accident and lodged a claim. During this process they had to lie about the accident and where and how it took place. The insurance accepted the claim and gave them the sum of the car.

Now I want to know if this money is halal for them or not?

What to do with a life insurance policy payout?

Submitted by user2 on Sat, 2022-01-15 08:07

Q: My brother in law had a life insurance policy and has now passed away. The life insurance company has paid out the money. The heirs do not want it. Is it permissible for me to utilize the money for my own expenses?

Status of money earned by the kuffaar from riba

Submitted by user2 on Sun, 2022-01-09 06:17

Q: What is the status of the kuffaar and the money they earn from riba? Is it halaal for them? Can we accept money for goods sold from this? 

Being a witness to signing for a home loan bond

Submitted by user2 on Wed, 2021-12-29 06:23

Q: I was traveling with a co-worker who stopped at the attorney offices and asked me to come inside with her. When I went inside I was asked to be a witness on signing for a home loan bond that was taken with the bank.

I am feeling very uneasy and I would like to find out if I have committed a sin by being a witness to the interest stipulated on the contract.

Can I somehow get my name removed from that contract as I myself try my utmost to not deal with interest bearing loans. 

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