Charging a service fee for lending money
Q: Is lending money by a Muslim for a standard service fee halaal? If not, what is the permissible way of a Muslim lending money?
Interest money
Disposing of interest money in one's bank account
Q: I have a savings account in a bank in India. Every 3 to 6 months different amounts of interest money is credited to my account.
1. Can I give this money to a poor man without seeking thawab?
2. Can I give it to repair or maintain the toilets in a masjid?
3. Can I use it for maintaining or cleaning the road infront of my house?
4. Can I use the interest money to maintain the minimum balance in my account?
5. Can I use the money to pay the annual bill collected for using the debit cards?
Disposing of interest money accumulated by a body corporate
Q: I would like to query the issue below:
I am part of a body corporate of a complex based. The body corporate has been in place for about +/- 12 years and it has been run by the Muslim men of the complex. The complex comprises of various owners, Muslim and non-Muslim.
We have recently moved our banking over to FNB Islamic banking. Prior to this, we have accumulated an amount of +/- R22 000 interest money which we had kept aside after the move to Islamic banking. The body corporate is non-profit and we only act in the best interest and upkeep of the complex.
We as the body corporate would like to query if it is permissible or not to use this interest money as this money belongs to the complex which comprises of Muslim and non Muslim owners. We as the body corporate are held liable for the money of the complex.
The investment account which the interest was accumulated from was only opened as this is a law according to the CSOS act which is government regulated.
Please advise the correct manner/s in which this interest money should be dealt as we would like to make the correct decision going forward.
Giving someone interest money without telling them it is interest
Q: Person A gives person B his interest money declaring it as such. Person B gives person C the money declaring it as such, appointing person C a representative of the poor. Asks person C to dispose of the money. Is it jaaiz for person C to use the money for person D children school fees without declaring it as interest?
Disposing of interest money
Q: What to do with interest money?
Using interest money to pay for taxes and fines
Q: Can interest money be used to pay tax (SARS)? What else can interest money be used for, payment of fines?
Using interest money to pay for insurance
Q: I got a NRI bank account which is a savings account and every quarterly I receive some interest from the bank. Is it permissible for me to use this interest amount in purchasing car insurance or any other insurance like medical, home insurance, etc.?
What is riba?
Q: Can you please explain to me in simple words what is Riba?
Paying one's helper with interest money
Q: What do we do with interest money? Can we pay our helper at home in the form of wages?
Paying a fixed monthly fee for a credit card facility
Q: Is it permissible to pay a fixed monthly fee for a credit facility on a credit card? The fee is payable whether or not the credit facility is used. No interest will be incurred on the credit facility.