Loans & Debts

Q: My question is can I take donations from others like how it is shown on this web site www.indigogo.com and start my business?

Q: My question is that I live in muscat and I am a teacher. I want to start a side business. So the bank is offering me a credit card and the offer is that if I pay the money back I use from credit card in 52 days then no interest will be charged. But I will only use it for the business so please tell me what Islam says about this? Will look forward to your reply in the lights of Islam.

Q: I would like to know if I want to start a business which costs 30000 but don't have enough money. Can I tell my cousin lend me eg. 15000 and tell him to invest 15000 and we go 50/50 and will pay him from my part of profits. Is it jaaiz? Can Mufti Saheb give reason also?

Q: My husband and I want to go for umrah. A relative is prepared to give me a loan against jewellaery that I have. Which is the correct way of doing the loan. The intention is to repay the same loan amount back and receive the jewellery back.

Q: Is it correct for someone to continuously feed guests even though he is in debt? He quotes “the guest brings his own rizq and leaves with the sins of the hosts forgiven.” Please advise.

Q: I have a couple of debts I have to pay back. One is a non-interest loan via a friend. One is a previous student loan where the interest is extremely small. I took this loan out some years back when I didn’t know anything about riba. If I can get a loan (non-interest) from somewhere, is it permissible for me to invest this loan in something halaal in order to make money for myself so that I can pay off my debts first, before I get a job? For example, I am able to get a loan and invest in some business which would eventually provide some return. Assuming I still don’t have a job. Or, if I can get myself a job, although I have these debts, would I be able to save up and invest first before paying the debts off? Or can I save up and invest, while taking some of my savings and putting that towards the debts at the same time? What is the best course to follow and what out of the above us permissible? What way round is allowed?

Q: If a debtor comes to pay his debt two years after purchasing goods from us, do we have the right to charge inflation on the amount according to the rate of inflation?

Q: A Muslim bakery sold bread on credit fifty years ago valued at Kenyan Shillings 6500/-, and the price of loaf was KShs 0.75 (75 cents). At that time the debtor had failed to pay. Now his kin want to settle the debt when the price of a loaf is KShs. 50/- and is ready to pay extra over the 6500/- owed. Can the Bakery demand to be paid according to the current price of a loaf of bread? Or can they accept the initial debt of KShs. 6500/- plus the extra the debtor is willing to pay seeing the difference of the cost of loaf today and fifty years ago? As the actual currency is gold, can the debt be evaluated according to the price of gold fifty years ago and now, i.e., the amount of gold that could have been bought of KShs 6500/- fifty years ago and the value of the same weight of gold at the current local market be the repayable debt? The owner of the bakery (now run by his children) died many years ago. Please advise.

Q: A person has been attending a madressa. At the madressa there is a tuck shop which allows the students to take things on credit. As a student many things were bought on credit and paid later. A few years later the student has doubts in their mind as to whether they have paid their accounts accordingly. What can the person do besides asking Allah for forgiveness?

Q: Is it permissible to use credit cards as long as I pay off the balance without having to pay interest?