- Transactions & Dealings >> Interest & Insurance
- Total Questions : 349
- Q. One of my uncle has invested some money in shares of a bank several years back and the share prices have appreciated quite a bit.Is it right for him to stay invested in that sector when we know that the banking industry survives on their core business i.e recieving interest on amount disbursed as loan to its customers which is not legal according to Shariat? Plz suggest a solution what should he do now if it is not right.
1236 views
- Q. I am working with bank's collection agency as a computer operater. I get to know from islamic research foundation(mumbai)it is not permitted to deal any kind of riba (intreast)based dealing. My work is only that if payment collected by feald executive i wright down it and send it to bank this payment is collected.Now i am resinged my job.Mene jo pesa yaha se kamaya hai usse 1 motorcycle li hai it is correct to use motorcycle?
1624 views
- Q. I am using a credit card from a bank which has tie up with an airlines companey. Whenever I spend any amount from this card I get free milage on jet airways by which I can fly free of charge upto certain miles. My another card has tie up with shoppers stop by which if I spend money I get free points on my card & I can get clothes worth of those many points. Is it OK to take these benifits? I never pay interest or late fee and make payment on time to avaoid paying interest.
1800 views
- Q. My question is regarding doing the job in various financial services companies. I have completed MBA. So, i mostly find opportunities in Banking, Insurance and Stock Broking companies. Doing the job in such companies is permissible as per shariah? Please answer in detail with the light of Quran and Hadith.
1664 views
- Q. To invest in the saving scheme of post office is lawful or not, (e.g. fixed deposit or monthly income etc.) the money invested in this scheme directly reaches to government of India. Government of India does not borrow nor finance to any person or any banking institution, GOI uses this money in national affairs to run various scheme, and interest paid on this saving/investment is given from it?s revenue income not from interest. In this situation, a Muslim can invest in above scheme or not and interest given in this scheme is interest or profit. Please sir?
5451 views
- Q. I am a practising neurosurgeon in India bangalore. I searched in vain and roamed and went to all possible banks including the so called AManath cooperative bank and asked the if anyone can help me in getting a car/home loan which is interest free , people laugh at such a question. My question is why dont the muslim ulema from prestigious institutions like yours talk to these banks / govt and see to it that islamic way of getting money is made available, see no muslim wants to deal in interest if we have another choice, it is easy for you people to sit and send fatwas that this is haram and that is haram, but what is the alternative, if you dont come up with something then people are forcefully going ahead with haram means. you must be well aware that a majority of the ummath is involved in riba..dont you think we all are responsible for this ??All the banks state that it is the RBI ruling that interest has to be charged, how is this when we have a populationnearing 25%?? Kindly let me know...I want to have a loan for a car and a house which are my neccessities tell me where do i get it without committing a haam act?? dont tell me what i cannot do , tell me what is the alternative?
1506 views
- Q. I am a Neurosurgeon, starting a job in a private hospital, my salary is Rs 180000 per month. If all of this is taxed I land up paying 30-35% of the amount. I also do not have a house of my own nor do I have any ancestral property or any other source of income, my parents funded my education with difficulty and they no longer earn. If I buy a car and a house on loan which of course will have interest involved in it, I can get tax rebate, is it permissible? Also brief me on other halal sources where i can invest to save Income tax? My parents are elderly and their medical expenditure at times is exhorbitant, also as you know medical bills are too high nowadays, is it OK to have a medical insurance for them, and also for others? Regarding car insurance you have told that since govt insists, it is permisssible, is it ok to maintain a 1st party insurance all the time even after few years of purchase?
1832 views
- Q. I am working in private firm, this firm is engaged in assets valuation (present market value of houses, plots, shops, industrial units etc.) for banking purpose, bank finances to property holder after considering this valuation report, this firm is also engaged in insurance survey, suppose some one has taken insurance and suffered any losses then insurance companies handed over to our firm to prepare the estimate of loss and after considering this survey report insurance company pays compensation to person who has suffered the loss. My job in this firm is a computer operator I type this all survey reports and valuation report. Engineer?s of our firm also takes photographs of properties to be mortgaged in bank and damaged material which was surveyed by him, I have to save these photographs in computer and also make a CD of these photos and to reach this CD to photo shop for print-out. Kindly tell me this type of job is permissible in our Shariat or not. Please sir I am very confused. Please reply as soon as possible.
1025 views
- Q. I want to know that intra-day trading in share mkt. is allowed in islam ? and can we trade in all type of companies,either they do not complied by parsoli corportion ltd. because in intra day there is no point of getting interest. etc. please answer me as soon as possible, thanks!
1512 views
- Q. I know that giving, taking interest is haram. We're living as joint family. For business purpose my brother wants a land. He planned to take loan and purchase the land. He is asking me to pay the loan amount. I am able to pay the loan amount in installment. I insisted so many times that don't take loan. We'll wait for sometime then later we purchase another land. But he is not agreeing with me. If I didn't agree with him I feared that he broke the relationship and whole family will be in greater problem. Please suggest me that what to do now? Should I pay amount or not? I know that you have more work. If you give solution as soon as possible then it will be very useful.
1236 views
- Q. A philantrophist had bequeathed aproperty for the purpose of a Jamath Khana (Apparently as Sawab e Jaria).The present committee is planning to construct a shopping complex space for a Jamath khana is to be suitably provided.The money derived from this would be used for the benefit of the community.Since funds are not available the committee is planning to take a loan on interest. Taking or giving of interes is haram in Islam. Will this not amount to feeding the community with haram money ? Pl clarify.
937 views
- Q. Is working in banks, insurance, or financing companies and also tell me working in auditor office is jayaz(halal). Also Suggests me any other job related to similar fields which are haram and not permmisible in Islam.
1411 views
- Q. My friend is a car dealer.Most of the costomer ask him to get Car Loan sanctioned for them. Is it appropriate for him to do so?
1333 views
- Q. I am am insurance adviser. I do get commision from customer?s preimium. Which can be renewable or not. At the time of maturity of insurance the company is giving sum assured. So, i want to know the commision is halal or haram?
1102 views
- Q. My question is, if a person working in a bank, has reached an age whereby it is difficult to find a job in different sector, or start his own business, should he quit his job? This may lead to financial difficulties in supporting his family.
1170 views
- Q. I intend buying a car using the islamic financing where the bank buys the car and they sell it to you at a profit but where iam not comfortable is that the bank insists i should get a comprehansive insurance which i do not want iam prepared to get the ordinary 3 rd party insurance which is compulsory by law.i feel the bank is protecting there interest but is this allowed? Can i go ahead and get comprehensive insurance as without that they do not sell me the car.
1525 views
- Q. I got good opportunity to work in Bank. But I did not avail that opportunity. I am working in a manufacturing industry. Now the manufacturing industry is also based on loans taken from Banks. As a result they industry also repays its loan along with interest & mark-up. So what to do. Is this allowed. awaiting yr reply.
1302 views
- Q. Theres a firm which do halal business (construction and many others) as i have invested money in that firm and monthly they pay fix amount to me depending on how much investment made.
1131 views
- Q. In a country like india where theres no islamic banking how can a middle class salaried muslim buy a house without taking loan from bank.is it allowed or not.should we visit & eat at the house of such people.what about their namaaz,ibadaat,the people i am speaking about are namazi,they read quran,&for every other issue they object saying its anti islamic when it comes to them they deal in intrest & say they feel bad but dont have any other options.
2750 views
- Q. My question is regarding intrest(riba).i have heard from a mufti saheb that a muslim can take intrest from non muslims but he cannot give intrest to non muslims.a muslim should not leave his profit for non muslims as it will help the forces of evil.this fatwa was supported by hadith .can you please give a detailed reply on this matter
6439 views