Q: I am metal importer. I have less capital available as compared to my business volume. I want to do financing. What is best way to finance without interest. I don't want to do partnerships.
Please guide and suggest .
Q: I lent some money to my cousin a few months ago. If he takes an interest based loan from the bank to return my money. Am I allowed to take my money back from such arrangements. I did not ask or force him to take a loan/Riba to return my money. Just asking him to return my money back as the agreement date is nearing.
Q: If a debtor takes an interest based loan to return our due money. Are we allowed to take our money back from such an arrangement.
We are not asking/ forcing them to take the loan to return our money but just demanding our money as the term due is nearing.
Q: Is it permissible to buy a house from An Nahl. If the house is 600 000 for example, they put up a mark up of 7 % if you pay within 10 months, a mark up of 10% if you pay within 24 months and so on and so forth. It's fixed profits. Please let me know if its permissible?
Q: I am currently renting my business premises from a an Islamic trust. They have amended the current lease agreement to state that 2% interest will be added to late payment of even a months rent. When the Muslim tenants objected, they changed the word interest and now describe it as admin fees.
Is this allowed? This very trust contributes to the funding of the masjid and Islamic school.
Q: I have taken some money from a friend from Australia. While taking the money, I planned to work abroad so that I can earn big amounts and pay back the money. I want to ask that now I am not in a condition to return the money. Is that a sin for me? What should I do? The person hasn't asked me for the money, and knows that I am not in a financial condition to return the money.
Q: I want to buy a home at my native place but I haven't enough money to buy it, so can I apply for the home loan. I already tried to halal sources to raise funds for the same but I only collected 10 lakh, and the home price is 28.5 lakh.
I know interest is haram in Islam. Also suggest me the best way to achieve it.
Q: I took out student loans to pay for my college education, but I paid all of them off 1 day after the interest started accumulating. I could’ve paid it off sooner, but I had a confusion about when the interest would be adding on. Will my income from my job be haram because I had 1 day of interest in the means of earning that education?
Q: I had met with an accident and I'm at home completely. My mother is a pensioner and my brother too is living along with his kids. We have no savings with us. We got a loan on pension. Can I take the money for my angiography as I cannot work and no one to help me for this treatment?
Q: Zaid is in Dubai. Aslam, from Pakistan, is in need of some loan. Zaid does not have a foreign currency account in Pakistan, so when Zaid transfers 2000 dirhams to Aslam, Aslam receives Pakistani rupees equivalent to 2000 dirhams. After one year, the Pakistani rupee value has dropped, now will Aslam return the same amount 2000 dirhams or Pakistani rupees that he received a year back? Or should he return the rupees equivalent to current value of 2000 dirhams?