Category : Interest

  • Chit Funds

    As’salamu alaykum wa rehmatullahi wa barkatuhu. There is a chit scheme.In this lets say about 10people and 1 agent will be involved..these 10 people will pay 10,000 each for 10 months(that means 100,000 (10,000*10people’s money) will be gathered each month).The agent will take ...

    07 Jul 2018 Ref-No#: 817
  • Gratuity and Pension Fund

    I am employed in an organization where monthly deduction is made on account of Gratuity and Pension Funds (GPF). These funds are given at the time of retirement to the employee. The employer invests these funds . There are 02 categories of GPF interest bearing and non -interest bearing . B...

    24 Apr 2018 Ref-No#: 623
  • Filing away records of interest transactions

    Assalamu ‘alaykum warahmatullahi wabarakatuhu,   “I work in the “contracts” department of a comp...

    27 Feb 2018 Ref-No#: 381
  • Paying traffic fines with interest

    Asslaamu alaykum, Can we pay our traffic fines with interest money? ...

    26 Feb 2018 Ref-No#: 299
  • Seller knowing that the customer is paying with money loaned from the bank

    Assalamu alaykum wa rahmatullahi wa barakatuhu If a buyer pays with a cheque, and the seller knows that the buyer took a loan from the bank to pay for his goods, will it be permissible for him to conclude the deal? Likewise, if I sell cars and I know the customer is financing it thr...

    26 Feb 2018 Ref-No#: 242
  • Sellers knows money is from bank

    Assalamu alaykum, If a buyer pays with a cheque, and the seller knows that the buyer Took a loan from the bank to pay for his goods, will it be permissible for him to conclude the deal? ...

    26 Feb 2018 Ref-No#: 236
  • Working in an interest-based bank

    Assalamualaykum mufti sahib, Is it permissible or impermissible to work in interest based banks in India, such as, State Bank of India, Punjab National Bank, etcetera? ...

    25 Feb 2018 Ref-No#: 199