Interest and Gambling

Taking an interest bearing loan to start a business

9 years ago By admin

Q: I want to start the business with my friend. We live in India. I want to have clarification with following points

1. Can I start a business by taking loan based on interest?

2. If above thing is not possible then is it OK if my partners take loan and I restrain from it?

3. Is it ok if I work in their (my partners firm) which takes loans and take my share of profit as employee?

I wanted to have clarification because in any way the firm in which I am working currently has taken loan from banks for its functioning.

Mortgage

9 years ago By admin

Q: I had three questions regarding interest:

1. Is a mortgage (on interest) permissible in Islam to purchase a family home?

2. If my parents are pressuring me into purchasing a family home through mortgage rather than renting, am I under obligation to listen to them?

3. If I make a total of the amount of interest my father pays on a regular basis with the intention of persuading him to reduce his loans, is this permissible, and would this be considered “recording interest” which is forbidden in hadith?

Takaaful

9 years ago By admin

Q: I am in confusion. I am worried that this confusion does not lead me to the wrong path. I have got job in takaaful insurance company named as jubilee insurance company in Pakistan. I have watched a lot of videos about Takaaful insurance and have read a lot of literature regarding this case. Many Aalims said that it is halaal in Islam but I could not find any satisfactory answer.

1. Is working in a takaaful insurance company Haraam or Halaal?

2. If I spread this takaful business, then is it good for Muslim Society?

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