Loans & Debts

Q: If someone owes you money and does not pay you by the due date, is it permissible to charge him an extra amount as an administration fee or any other fee?

Q: What is the Islamic view on begging/borrowing money (for a short time) despite having money though the money he has is set for something which if he touches the money, he might not be able to use it for what it is intended for.

Q: Lets say person A borrowed money for person B. Then person B refused to pay back. Then person C paid the amount. Will person a still owe the debt islamically even though the debt is paid off?

Q: My husband is going for Hajj in September 18 Insha Allah and I'm going to my country three days before him that's means that in September 18 as I can not stay alone in UK without him so I will go to my country to stay with my parents until my husband comes back from hajj but the money my husband will give me to spend in my country is not enough and he does not have money for now so I decided to borrow from some body the money I will take with me but my husband told me you can not borrow money because if you do so my haj will not be accepted he said you can borrow only after I finish my hajj, is it true? Is it ok to borrow the money or shall I wait until my husband finishes his hajj and then borrow from someone in my country?

Q: I had to give 400 RS to my friend, so I gave him 500 rupees but some hours later he gave me back 300 rupees. So the extra 200 rupees actually belong to him and initially I told him to keep it but he refused. My question is can I use this amount for my personal use and for eating purposes as I dont know whether this is interest based money or not.

Q: I have come to know about this company efsol.com.au they provide halal home loans. I'm sending you a link of their sample contract. They have information on their website too. Please help me. I have got pre-approval from the company for a loan. I'm waiting for your approavl. May Allah guide us the right path. Jazakallah Sample contract: https://m.box.com/shared_item/https%3A%2F%2Fapp.box.com%2Fs%2Fx5jppkdwp…

Q: I have lent money a couple of years ago and two people gave me both each guarantee of cheques. Four years passed and non of them paid me. I have struggled so much. And many things I could not pay and went only higher and higher. I am in many debts. I don't work as a single mother due to health problems. And my child is 2 years at home because I can't pay her school. If the people pay me each the amounts of the cheques do I have the right to keep the money because I have a court case against them. I have waisted a lot of time and effort going to police stations and court in the past 4 years.

Q: I have some money in the form of foreign currency which I bought for investment purpose a year ago at 15.75/ unit of currency. Now one of my friends needs some money and he approached me to lend him some amount for a few months. As I don't have money in the form of Pakistaani Rupees, I told him to take foreign currency from me and get it exchanged with Pakistaani rupees. But I put one condition that I have bought that currency @ 15.75/unit and now the market rate of that currency is 13/unit. I gave him 3000 units of currency no matter at which rate he will sell those units in the market but he will have to return me the money @ 15.75 on which I originally bought that units. For example if now he sold that 3000 units @ 13 in market he will get Rs.39000 but he will have to return me the money @ 15.75 which becomes Rs.47250. Is getting that extra amount justified by Shariah? Is it a Halaal transaction to do?

Q: Bakr and Zaid are travelling in a foreign country. Zaid takes a loan of 100 USD from Bakr. Bakr makes the condition that when they return to South Africa, Zaid must not pay him 100 USD, but rather the equivalent of 100 USD in South African rands. The equivalent of the 100 USD will be based on a mutually agreed exchange rate decided by Zaid and Bakr when they return to South Africa. Is this type of transaction permissible?

Q: My question is if I was to buy a car for someone which had a value of £15000 which is based as a loan from me to the other person and they will pay me back in monthly instalments until I get my full money back, is this considered as RIBA (Interest)?