EMI

I have purchased a house financed by a commercial bank in India. I have to pay an E.M.I. comprises with Principle & Interest. I am compelled to go for this arrangement for purchase of a house as my financial conditio...

Musharakah Contract

Please enlighten me with the Islamic view on a business detailed below – A company is in the business of Leasing, hiring, renting of automobiles and seeks participation from individuals with an amount of Rs. 1.5 la...

Buying and selling shares

Is it permissible to do short term trading in the stock market where stock is brought and sold within days or hours? We do not get the chance to make any objection to their earning interests by putting their money in a s...

Accept unlawful wealth for debt

Accept unlawful wealth for debt In the name of Allah, the most Beneficent, the most Merciful. Answer There are differences of opinion with regards to the aforementioned scenario however the preferred opinion is that the ...

Permissibility of an Islamic Loan.

My brother is looking to purchase a car with the assistance of Dubai Islamic Bank. The procedure for an Islamic loan in Dubai is that the bank will purchase the car for you and you repay the loan through installments, bu...

Interest in Non Muslim Countries

Is Riba allowed in a non muslim country like America or Canada? I have read a hadith, that says “There is no riba between a muslim and a harbi (kafir) in “dar ul harab”. (Dar ul harab means a non muslim...

Friend repays his debt with profit

I gave some money to my friend to start business with someone. After one year my friend returned my whole amount with some profit and saying that no more business. In the name of Allah, the most Beneficent, the most Merc...