It comes under the same rulings as the riba of the Jaahiliyyah which is forbidden in sharee’ah. »
Shares may be divided, according to the field of activity and work involved, into three categories »
Leasing a Car Question Is leasing a car in the US haraam? I don’t know if there is any interest involved or not. Answer Praise be to Allaah. The ruling on a thing is based on the way it is understood, so it is not possible to state whether this purchase is permissible or forbidden without studying the contract and its clauses. There are two common forms of buying and selling by installments ... »
Ruling on Trading in Currencies/Forex Question I would like to know about investment in currency (FOREX Market). Like now a days, its very common that people invest in Euro to earn profits. One broker keeps on calling me to invest USD in Euro. Is trade in currency halal? Answer Praise be to Allaah. Dealing in currencies is permissible so long as the exchange takes place in the same sitting as the ... »
The Dec 2002 fatwa issued by Al Azhar’s Institute of Islamic Jurisprudence is viewed as legitimizing collection of interest in the context of bank deposits. »
Is it permissible for me to work in a commercial bank until it becomes an Islamic bank? »
Regarding riba as permissible Question What is the ruling on regarding riba as permissible? Thank you very much. Answer Praise be to Allaah. Riba is forbidden according to the Qur’aan and Sunnah, and definitive scholarly consensus. Whoever regards it as permissible is a kaafir, because the basic principle is that whoever rejects something on which there is obvious scholarly consensus is guilty of ... »
Some types of haraam transactions Question What are the types of haraam transactions? Please quote the evidence for that. Answer Praise be to Allaah. There are many types of haraam transactions, and it is not possible to list them all in this brief answer. Shaykh al-Islam Ibn Taymiyah (may Allah have mercy on him) mentioned a useful principle concerning this matter, which will help one to understa... »
Definition of riba and ruling on work that helps with riba Question What is the definition of riba? If we take into account the fact that in most countries the economy is based on the principle of the circulation of capital, which includes lending, is accepting payment in that particular currency for any work regarded as an action that supports the riba-based system ? Is using the currency of a st... »
Ruling on dealing with mortgages in a non-Muslim country Question We live in a western society and we live in rented accommodation so as to avoid riba. Recently we found out that there are no houses for rent, and 96% of the market is based on mortgages. All houses are offered for sale only. Some of them told me that in this situation it is permissible for me to buy a house by means of a mortgage a... »
