hijab_sister
ALLAH is in my heart
salam brother
in pakistan there is only one islamic bank that is meezan bank.
which doesnt give u riba or interest at all.
its total complete islamic bank.
FI AMANILLAH
Riba and Muslims in the West
- Thread starter riz_1982
- Start date
in pakistan there is only one islamic bank that is meezan bank.
which doesnt give u riba or interest at all.
its total complete islamic bank.
FI AMANILLAH
goldenmuslimah21
peace
WELL IT GOOD TO KNOW YOU CAN BUYS HOMES FROM AUCTION
AND I AM GULITY OF HAVING A LOAN WITH INTEREST BUT i NEEDED TO GO TO SCHOOL
Nazihah
Be A Stranger
:salam2:
Thanks for that. From the looks of it though, it doesn't seem like they finance for colleges. Do they?
I'm not so sure Brother. But you can call them up and enquire about this, inshaAllah.
nyerekareem
abdur-rahman
:salam2:
i understand you. unfortunately there are so many of us here in the west that don't have many options. yes there are a few islamic banks in america, yet not all of them are avaiable in all 50 states. you can buy a used car with cash, but how many people readily have a few thousand ( which most used cars cost ) available? people do have to get to work. if it's a dire necessity i can see someone resorting to ribaa. if you're somebody taking a mortgage just because you want a fancy house by using ribaa, then i would say it's a huge problem. i didn't know this but i found out that interest is also disallowed in the bible even though they seem to ignore it. i look at the ribaa thing out of necessity in the same way we may have a muslim eat pork, when there is absolutely nothing for him to eat. he eats it to survive and he doesn't transgress by having seconds and thirds. maybe we should all make du'a that more islamic banks open up in america and the UK.
:salam2:
i understand you. unfortunately there are so many of us here in the west that don't have many options. yes there are a few islamic banks in america, yet not all of them are avaiable in all 50 states. you can buy a used car with cash, but how many people readily have a few thousand ( which most used cars cost ) available? people do have to get to work. if it's a dire necessity i can see someone resorting to ribaa. if you're somebody taking a mortgage just because you want a fancy house by using ribaa, then i would say it's a huge problem. i didn't know this but i found out that interest is also disallowed in the bible even though they seem to ignore it. i look at the ribaa thing out of necessity in the same way we may have a muslim eat pork, when there is absolutely nothing for him to eat. he eats it to survive and he doesn't transgress by having seconds and thirds. maybe we should all make du'a that more islamic banks open up in america and the UK.
I agree. Its sad, but true. Inshallah it'll turn for the good in the future.
Salaam,
Yes, it is difficult to live Islamically in the west. However, that does not rule out our awarness. When we become cognizant of the ills of riba we can make minor adjustments in our life to rid ourselves of the consequences of those ills.
We have to unify and buy land and make communities again. It is simple but it takes dedication and discipline. We are lazy..we go to the kuffir to have transactions. We are still under the spell of capitalism. I know you guys get sick and tired of me writing the same stuff but I have to.
When my last car died and I needed a new one I purchased another. I made arrangements to give the dealer three installments. I will not own a new car. I buy old cars to aviod the interest.
We as Muslims do not want to assist each other. I know a brother who sells clothes and he told me if he relied on Muslims he would be starving to death. The Muslims go to the shopping mall..what can I say.
If we assist each other we can make a difference.
Yes, it is difficult to live Islamically in the west. However, that does not rule out our awarness. When we become cognizant of the ills of riba we can make minor adjustments in our life to rid ourselves of the consequences of those ills.
We have to unify and buy land and make communities again. It is simple but it takes dedication and discipline. We are lazy..we go to the kuffir to have transactions. We are still under the spell of capitalism. I know you guys get sick and tired of me writing the same stuff but I have to.
When my last car died and I needed a new one I purchased another. I made arrangements to give the dealer three installments. I will not own a new car. I buy old cars to aviod the interest.
We as Muslims do not want to assist each other. I know a brother who sells clothes and he told me if he relied on Muslims he would be starving to death. The Muslims go to the shopping mall..what can I say.
If we assist each other we can make a difference.
Easier said than done. Interest based loans is just something you are gonna have to understand to accept and cope with. I know its bad, and accepting it doesnt make it right but to be realistic...its just how the world works. I'm on student loan that is interest based. I have to pay for college somehow. Same with my car, even though its paid off.
:salam2:
well Brother, you are not the only who is muslim and goes to college, I rather be a part-time and work full-time to support my self than taking Riba, a lot of people have done it before and I am sure we can do it. as far as yur car what do you need a new car for or even a car with payement, a few thousands dollars car will do the job. may Allah keep us away from all what is HARrAM. Ameen.
things may be different but the level of dificulty is the same, I live in the US as well.
:salam2:
TheHumbleWun
Banned
Asalaamalikum,
Housing and Urban Development (HUD) (http://www.hud.gov/homes/index.cfm) houses are announced at least twice a month by the federal government for auction. They are good houses, which you can buy at 50 to 60 percent below market price.
If you own a interest bearing account, such as a saving account, I believe you can donate the interest to like a homeless person or charity. Correct me if I am wrong anyone.
FYI
You can also avoid interest on credit cards by keep transferring your balance to 0% balance tranfer credit cards (usually a promotion up to 12 months) such as Discover or Citi cards. Sometimes you have to pay a small fee to make the balance transfer, but you can keep transferring to different credit cards until you pay your balance; thus, avoiding interest.
Things are easier said than done.
First of all, I support my self with my own money by paying for personal expenses. But, I can't support my college tuition working at a retail store or flipping burgers.
Secondly, I go to a private college so I have to be a full time student beacuse of the amount of work I have, and I'd much rather be a full time student than work and go to school at the same time. I can't manage all that at once. If I'm a full time student and I start working, my grades will start to suffer. There would be no time for homework. Again like I said, going to a private school, you get a lot of work. Much more than public college student get.
And about your comment about the car,
I need a car to get to places. Its not possible to catch a bus or walk everywhere. If I had a few thousand dollars on me to begin with, I wouldn't need to take out a loan for my car. If everyone had a "few thousand dollars" to finance their cars, that would defeat the purpose for people to take out loans in the first place.
Things are diffrent in UK than it is here in the U.S and thats what makes it more difficult. To be specific UK has more Islamic banks that finance just about anything. Name me a handfull of Islamic banks in the U.S that finance a house, a car, and tuition for college.
Like I said before, I dislike the idea of interest just like any other muslim person. However, fact is fact. Everyone has diffrent circumstances. Its not a matter of generlization. All you can really do is Dua and Inshallah everything turns out for the better in the future.
:salam2
i wanted to ask
is it haraam to work in a bank?
i was offered an internship as a risk analyst in a big bank, basically my job would consist in build algorithms to reduce the credit risk and control it
i refused because i wasn't sure if it is allowed or not, but the technological, and work environment was really nice, i was tempted to say yes, but i went to find somewhere else
Jazak Allah for the answers
i wanted to ask
is it haraam to work in a bank?
i was offered an internship as a risk analyst in a big bank, basically my job would consist in build algorithms to reduce the credit risk and control it
i refused because i wasn't sure if it is allowed or not, but the technological, and work environment was really nice, i was tempted to say yes, but i went to find somewhere else
Jazak Allah for the answers
Brother A Similar question was asked at islam_qa.com
Question:
Aslamoaliakum.
I have been offered a job at a Bank, and I am not sure whether I should work there or not, because the bank makes money from interest (Riba). Please tell me whether working there is allowed (Jaaiz), or not.
jazaakum-Allah-khair.
Answer:
Praise be to Allaah.
You will find the answer in the hadeeth of Jaabir, may Allaah be pleased with him, who said: "The Messenger of Allaah cursed the one who consumes riba (interest or usury), the one who gives it, the one who writes it down and the one who witnesses it. He said: 'All of them are equal in sin.'" (Reported by Muslim, may Allaah have mercy on him, in his Saheeh, no. 1598)
Commenting on this hadeeth, al-Nawawi, may Allaah have mercy on him, said: This is clearly a prohibition of the writing down or witnessing of a contract between the two parties involved in a riba-based deal. It also includes a prohibition of helping others to commit wrong acts. And Allaah knows best.
It is inevitable that the employee in a riba-based bank will play a part in riba dealings one way or another, even if he is just a security guard. Maybe Allaah will help you, my brother, if you are patient, to find halaal employment. (Interpretation of the meaning) "… And whosoever fears Allaah and keeps his duty to Him, He will make a way for him to get out (from every difficulty)." [al-Talaaq 65:2]
Question:
Aslamoaliakum.
I have been offered a job at a Bank, and I am not sure whether I should work there or not, because the bank makes money from interest (Riba). Please tell me whether working there is allowed (Jaaiz), or not.
jazaakum-Allah-khair.
Answer:
Praise be to Allaah.
You will find the answer in the hadeeth of Jaabir, may Allaah be pleased with him, who said: "The Messenger of Allaah cursed the one who consumes riba (interest or usury), the one who gives it, the one who writes it down and the one who witnesses it. He said: 'All of them are equal in sin.'" (Reported by Muslim, may Allaah have mercy on him, in his Saheeh, no. 1598)
Commenting on this hadeeth, al-Nawawi, may Allaah have mercy on him, said: This is clearly a prohibition of the writing down or witnessing of a contract between the two parties involved in a riba-based deal. It also includes a prohibition of helping others to commit wrong acts. And Allaah knows best.
It is inevitable that the employee in a riba-based bank will play a part in riba dealings one way or another, even if he is just a security guard. Maybe Allaah will help you, my brother, if you are patient, to find halaal employment. (Interpretation of the meaning) "… And whosoever fears Allaah and keeps his duty to Him, He will make a way for him to get out (from every difficulty)." [al-Talaaq 65:2]
Salaam,
Dearest brothers and sisters the important thing to keep in mind is to become knowledegable. Let us not waste our time in punishing ourselves. We come here to learn and share with others.
Let us keep in mind that Allah subhana talla provides for us in ways we can not begin to comprehend. Let us seek His plesure and serve Him and He will open doors for us.
Dearest brothers and sisters the important thing to keep in mind is to become knowledegable. Let us not waste our time in punishing ourselves. We come here to learn and share with others.
Let us keep in mind that Allah subhana talla provides for us in ways we can not begin to comprehend. Let us seek His plesure and serve Him and He will open doors for us.
abou haytam
Junior Member
Buying a house through the bank
Question:
Assalaam 'alaikum wa rahmatullaahi wa barakaatuhu.
Innal hamdalillaah was-salaat was-salaam 'alaa rasoolillaah.
Is it permissible to obtain a fixed rate mortgage from a british bank in order to purchase a house.
jazakallaahu khairaan
wasalaam
Answer:
Praise be to Allaah.
If the bank owns the house, then it is permissible for it to sell it to you for a fixed price, whether payment is deferred or made in installments, even if this will cost more than paying the full price for it immediately. This is according to the more sound opinion among the scholars.
But if the bank is involved in this transaction as the supplier or lender of funds, which you then have to repay with some extra, then this is clearly an interest-based transaction, which is undoubtedly haraam.
It may be almost impossible to avoid interest-based transactions when dealing with real estate in many countries, and one may hardly be able to find any halaal alternative, but the Muslim must bear this with patience and seek out halaal means. Allaah says (interpretation of the meaning): “… And whosoever fears Allaah and keeps his duty to Him, He will make a way for him to get out (of every difficulty). And He will provide for him from (sources) he could never imagine. And whosoever puts his trust in Allaah, then He will suffice him. Verily, Allaah will accomplish his purpose. Indeed Allaah has set a measure for all things.” [al-Talaaq 65:2-3]
May Allaah bless our Prophet Muhammad.
Islam Q&A
Sheikh Muhammed Salih Al-Munajjid
___________________________________________________________
Using a credit card with the intention of not delaying payment
Question:
I live in occupied Jerusalem, Palestine. As you know there are no Islamic banks here, all banks deal with interest. What is the ruling on using the credit cards of these banks, knowing that if I delay paying in a specific date I will have to pay the interest to the bank? But I will never delay paying in order to avoid paying the interest. I know that this card is considered a Riba contract. And that what is built on wrong will remain wrong, but I do not take or pay interest.
I intend to use it as I cannot afford some very expensive things at once, only by installments. I do not know if the things I want to buy are necessary in the Sharia’s point of view, but I am in need of them as soon as possible. I do not want to follow my desire and deviate from the right. Note that I pay a fixed monthly amount for this credit card service regardless how many times I used it.
Answer:
Praise be to Allaah.
It is not permissible to use credit cards that stipulate payment of interest even if a person intends to pay it off on time, because it is not permissible to approve of riba or enter a contract that includes it. And because a person may fall into riba as the result of delaying payments due to forgetting, travelling and so on.
Shaykh Ibn ‘Uthaymeen (may Allaah have mercy on him) was asked: The banks give their customers a credit card called Visa which enables the customer to withdraw money from his account even if there is no money in his account at that moment, on condition that he pay the bank back within a certain amount of time. If he does not pay it back within that time limit, then the bank will ask for more than the customer withdrew. Please note that the customer will pay a set amount to the bank in return for using this card. I hope that you can explain the ruling on using this card.
He replied: This transaction is haraam, because the one who enters it is committing to paying riba if he does not pay off within the time limit, and this is a invalid commitment, even if a person believes or thinks it most likely that he will pay it off in full before the time limit ends, because circumstances may change and he may not be able to pay it off. This has to do with the future and no one knows what will happen to him in the future. Such transactions are haraam. And Allaah knows best. End quote from Majallat al-Da’wah, no. 1754, p. 37.
And Allaah knows best.
Islam Q&A
Question:
Assalaam 'alaikum wa rahmatullaahi wa barakaatuhu.
Innal hamdalillaah was-salaat was-salaam 'alaa rasoolillaah.
Is it permissible to obtain a fixed rate mortgage from a british bank in order to purchase a house.
jazakallaahu khairaan
wasalaam
Answer:
Praise be to Allaah.
If the bank owns the house, then it is permissible for it to sell it to you for a fixed price, whether payment is deferred or made in installments, even if this will cost more than paying the full price for it immediately. This is according to the more sound opinion among the scholars.
But if the bank is involved in this transaction as the supplier or lender of funds, which you then have to repay with some extra, then this is clearly an interest-based transaction, which is undoubtedly haraam.
It may be almost impossible to avoid interest-based transactions when dealing with real estate in many countries, and one may hardly be able to find any halaal alternative, but the Muslim must bear this with patience and seek out halaal means. Allaah says (interpretation of the meaning): “… And whosoever fears Allaah and keeps his duty to Him, He will make a way for him to get out (of every difficulty). And He will provide for him from (sources) he could never imagine. And whosoever puts his trust in Allaah, then He will suffice him. Verily, Allaah will accomplish his purpose. Indeed Allaah has set a measure for all things.” [al-Talaaq 65:2-3]
May Allaah bless our Prophet Muhammad.
Islam Q&A
Sheikh Muhammed Salih Al-Munajjid
___________________________________________________________
Using a credit card with the intention of not delaying payment
Question:
I live in occupied Jerusalem, Palestine. As you know there are no Islamic banks here, all banks deal with interest. What is the ruling on using the credit cards of these banks, knowing that if I delay paying in a specific date I will have to pay the interest to the bank? But I will never delay paying in order to avoid paying the interest. I know that this card is considered a Riba contract. And that what is built on wrong will remain wrong, but I do not take or pay interest.
I intend to use it as I cannot afford some very expensive things at once, only by installments. I do not know if the things I want to buy are necessary in the Sharia’s point of view, but I am in need of them as soon as possible. I do not want to follow my desire and deviate from the right. Note that I pay a fixed monthly amount for this credit card service regardless how many times I used it.
Answer:
Praise be to Allaah.
It is not permissible to use credit cards that stipulate payment of interest even if a person intends to pay it off on time, because it is not permissible to approve of riba or enter a contract that includes it. And because a person may fall into riba as the result of delaying payments due to forgetting, travelling and so on.
Shaykh Ibn ‘Uthaymeen (may Allaah have mercy on him) was asked: The banks give their customers a credit card called Visa which enables the customer to withdraw money from his account even if there is no money in his account at that moment, on condition that he pay the bank back within a certain amount of time. If he does not pay it back within that time limit, then the bank will ask for more than the customer withdrew. Please note that the customer will pay a set amount to the bank in return for using this card. I hope that you can explain the ruling on using this card.
He replied: This transaction is haraam, because the one who enters it is committing to paying riba if he does not pay off within the time limit, and this is a invalid commitment, even if a person believes or thinks it most likely that he will pay it off in full before the time limit ends, because circumstances may change and he may not be able to pay it off. This has to do with the future and no one knows what will happen to him in the future. Such transactions are haraam. And Allaah knows best. End quote from Majallat al-Da’wah, no. 1754, p. 37.
And Allaah knows best.
Islam Q&A
Jazak Allah for the reply riz_1982
sis/bro mirajmon, i didn't really understand what u meant by punishing ourselves, please can u enlighten me, jazak allah in advance
sis/bro mirajmon, i didn't really understand what u meant by punishing ourselves, please can u enlighten me, jazak allah in advance