Posts

Receiving Funding from a Commercial Bank

Ustadh Tabraze Azam is asked about receiving start-up funding from a bank that deals in riba. I am a revert to Islam doing my Bachelor’s in Computer Science and have been given a project in my field of study by a start-up (let’s call it X). X works in the domain of Computer Science. The […]

Is Margin Trading Permissible?

Shaykh Abdul-Rahim Reasat answers a question on the legality of margin trading. Can you please confirm if margin trading is permissible? This is where you predict if the market will go up or down by using leverage positions. Thank You. I pray you are well. Margin trading is not permissible for a number of reasons. […]

Working in Car Dealership That Offers Financing

Ustadh Salman Younas answers a question on the permissibility of working for a car dealership that at times offers financing for purchases. Question: Assalam alaykum wa rahmat Allah wa barakatuh. I had a question regarding working in a car dealership. I would be selling cars and earn base salary plus commission. The people buying the […]

Are Chit Funds Allowed in Islam?

Ustadh Salman Younas is asked whether chit funds, the practice of pooling money and deciding who should receive the funds by lot, is permissible. Question: Assalam alaykum wa rahmat Allah wa barakatuh. I want to know if chit funds are allowed in Islam. I’m referring to a chit fund where a group of people pool […]

What Is the Legal Reason for Interest According to the Hanafi School?

Answered by Ustadh Tabraze Azam Question: Assalam alaykum What is, according to the Hanafi school, the legal reason for interest? I’m referring to the interest with money, not the interest with the six items mentioned in the hadith. Also if the legal reason (‘illa) isn’t present then will the prohibition still remain? And if so, […]

Can I Work at a Firm Involved in Interest-Based Transactions?

Answered by Mufti Muhammad ibn Adam Question: Assalamu alaykum Is it allowed for a Muslim here in the west to work at a solicitors’ firm for work experience and even get paid quite possibly, even though the firm may be involved/working with transactions which have interest involved? Answer: In the name of Allah, Most Compassionate, […]

Should I Try to Have the Interest Waived When I Pay Back a Bank Loan?

Answered by Ustadh Salman Younas Question: Assalam aleykum I have taken a bank loan on interest for my education few years back. Now I am earning and can pay the loan with interest. Is it better for me to pay the loan with interest which I agreed upon the bank initially or just pay the […]

Is Banking Interest Killing the Barakah in Our Lives?

Answered by Shaykh Jamir Meah Question: Assalamu alaykum I feel that Allah has taken away all barakah from our lives and that is because of the interest we are paying on credit cards. We both are very conscious of our prayers but now my husband is jobless. What should we do? Answer: Assalam alaykum. Thank […]

Can I Invest in a Fund That Accumulates Interest? [Video]

Answered by Shaykh Faraz Rabbani Question: Assalamu alaykum Can I invest in a fund that accumulates interest? Answer:  Wa’leykum Salam, Here is a video answer by Shaykh Faraz Rabbani to this question: Shaykh Faraz Rabbani is a scholar and researcher of Islamic law and Executive Director of SeekersHub Global After ten years overseas, Shaykh Faraz […]

Should I Avoid Pursuing Islamic Studies While Paying My Parents Mortgage?

Answered by Ustadh Tabraze Azam Question: Assalam alaykum If a person indulges in major sin, should he avoid to pursue Islamic studies? My parent have a lot of debts on mortgage and I am hoping to get a job and help them. But I would have to pay interest which is a sin. I would […]