Category : Interest

  • Inquire about interest money

    Aslam o alikum.. Sir I have very important questions to ask about use of interest money… I work in restaurant where I have to give 1 riyal on every 100 riyals of sales I do as a tip share to company. Means if I do 3000 sales I have to give 30 riyals every day whether I get from...

    17 May 2019 Ref-No#: 1711
  • Commission

    I am a real estate broker, who helps sellers find buyers and buyers to find sellers, and get a commission (from buyer or seller money) for this work. Suppose the buyer I found deals with usury (Riba). Is it permissible in Islam to receive this money (commission)? Suppose the ...

    29 Apr 2019 Ref-No#: 1590
  • Teaching and researching Finance

    Assalam-O-Alaikum, Is it permissible to teach Finance (this would include teaching about interest and how to use it for calculations)? Also, is it permissible to do academic research in Finance (research may be on bonds or other interest bearing instruments and even if it is not directly r...

    23 Oct 2018 Ref-No#: 1123
  • 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