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Interest and Gambling

Interest and Gambling (507)

Funeral policy

Submitted by admin on Wed, 2014-12-03 16:51

Q: I live in Durban SA. I am from Punjab India. I want to know if it is permitted for me to take SA funeral policy to pay for funeral if something happens to my family here. In India we have society to pay every month, when there is a jannazah, the society gives you money to pay for the funeral. Is it ok for me to do the same here in SA?

Category: 
Business and Dealings
Interest and Gambling
Insurance and Medical aid

Buying a car on interest

Submitted by admin on Tue, 2014-12-02 16:37

Q: I bought a car of Rs312000 by bank finance now I have to pay the bank Rs 453000. Rs 5300 per month upto 7 years.  Now I realised that I have committed a great sin and every moment I am in tension because of this sin and I have no means to pay the whole amount as early as possible. Now what should I do for attainment of this sin.

Category: 
Business and Dealings
Interest and Gambling
Interest bearing loans & Transactions

Interest

Submitted by admin on Sat, 2014-11-29 15:35

Q: My father gave some money to a broker for land so some how my father can't get the land so the broker said that he will return the amount which he has took from us but after 1 year he gave some amount from the total amount. After that my father told him why don't you return all my money but he said that he couldn't give the full amount at once because he used the amount in his business. But he said (if we don't demand it) he will return our money with interest of 2.5%. So my question is, is it permissible to take the extra 2.5%?

Category: 
Business and Dealings
Interest and Gambling
Interest bearing loans & Transactions

Interest money

Submitted by admin on Wed, 2014-11-12 08:50

Q: For what purpose can we use interest from bank?

Category: 
Business and Dealings
Interest and Gambling
Interest money

Insurance on livestock

Submitted by admin on Wed, 2014-11-05 15:28

Q: Is it permissible to take out life insurance for goats in a stall-fed goat farm?

Category: 
Business and Dealings
Interest and Gambling
Insurance and Medical aid

Taking an education loan from the bank

Submitted by admin on Wed, 2014-11-05 08:32

Q: My friend studied engineering by taking an education loan from the bank. He has to pay back interest also after getting a job. Is earning money through this qualification haraam?

Category: 
Business and Dealings
Interest and Gambling
Interest bearing loans & Transactions

Interest money

Submitted by admin on Mon, 2014-11-03 06:37

Q: Please I am from Tunis. My son has a million in a bank so after 11 years he find "agios" "faida". I want to ask you if he can spend this money for his study?

Category: 
Business and Dealings
Interest and Gambling
Interest money

Interest

Submitted by admin on Sat, 2014-09-27 07:26

Q: Is it in order to lend money to someone for example I say I will lend you R100 and you pay me back R150.

Category: 
Business and Dealings
Interest and Gambling
Interest bearing loans & Transactions

Interest from the bank

Submitted by admin on Wed, 2014-09-24 08:46

Q: Is bank interest in India acceptable for a Muslim?

Category: 
Business and Dealings
Interest and Gambling
Interest money

Disposing of interest money

Submitted by admin on Sun, 2014-09-21 07:28

Q: A person accrues R50 of haraam interest in his bank account. From his wallet, he gives R50 in cash to a poor person with the intention of disposing of this accumulated interest in his bank account. Has he disposed of the R50 interest, noting that the actual ‘interest R50’ is still in his bank account?

Category: 
Business and Dealings
Interest and Gambling
Interest money

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