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Category:

Banking and Interest

  • Banking and InterestInvestments and ContractsIslamic FinancePermissible and Impermissible

    Monetary Penalty for delayed rental. How do I circumvent this?

    by Mufti Faisal October 17, 2020
    by Mufti Faisal October 17, 2020 2 minutes read

    Question: I have read your answers stating that Monetary Penalty is tantamount to Ribaa. I …

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  • Banking and InterestIncomePermissible and Impermissible

    1) Zakat on current & Saving Account. 2) Disposing interest from saving account.

    by Mufti Faisal June 11, 2020
    by Mufti Faisal June 11, 2020 2 minutes read

    Question: I have both current & savings account in a bank. I would like to …

    Read more
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  • Banking and InterestIncomeInvestments and ContractsIslamic Finance

    Is Network Marketing halal or haram?

    by Mufti Faisal September 17, 2019
    by Mufti Faisal September 17, 2019 3 minutes read

    Question: I’ve recently been introduced to a group of entrepreneurs who are working together in …

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  • Banking and Interest

    I believe I have received interest money. What should I do?

    by Mufti Faisal August 22, 2019
    by Mufti Faisal August 22, 2019 2 minutes read

    Question: Usually, whenever I get the interest amount from the bank, I give it away …

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  • Banking and InterestFiqhInvestments and ContractsIslamic Finance

    Interest on Deposit, disposal of interest to poor and RESP

    by Mufti Faisal March 11, 2018
    by Mufti Faisal March 11, 2018 3 minutes read

    Question: Hello, I am helping a newcomer Muslim to Canada who is very careful with …

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  • Banking and InterestInvestments and ContractsIslamic Finance

    Auditing companies and checking interest-based calculations

    by Mufti Faisal December 13, 2017
    by Mufti Faisal December 13, 2017 0 minutes read

    My brother is a chattered accountant. He makes audit for different companies. He has to …

    Read more
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  • Banking and InterestIncomeIslamic Finance

    Working to sell insurance and recruiting people to work there for a referral commission

    by Mufti Faisal December 6, 2017
    by Mufti Faisal December 6, 2017 2 minutes read

    In principle all conventional insurance policies are at its core designed around interest and ribā. …

    Read more
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  • Banking and InterestIslamic FinanceOther Social

    Living in home bought on interest

    by Mufti Faisal November 21, 2014
    by Mufti Faisal November 21, 2014 3 minutes read

    Ribā’ is indeed a calamity which has plagued every part of our society. No one …

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  • Banking and InterestIslamic Finance

    Taking a loan with a grace period for interest-free payback

    by Mufti Faisal October 16, 2014
    by Mufti Faisal October 16, 2014 2 minutes read

    In principle, a loan which has an interest-free period or a grace period to pay …

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  • Banking and InterestIslamic Finance

    Flex Buy (Best Buy Canada) credit facility. Is it same as the Brick Card?

    by Mufti Faisal October 7, 2014
    by Mufti Faisal October 7, 2014 6 minutes read

    In principle, Flex Buy (Best Buy Card) is a similar financial instrument to The Brick …

    Read more
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  • Banking and InterestIslamic Finance

    “Brick Card Platinum” with 18 months interest free credit.

    by Mufti Faisal October 6, 2014
    by Mufti Faisal October 6, 2014 3 minutes read

    After having a look at the credit card in question, it seems that its structure …

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  • Banking and Interest

    What is the sharia position on buying and selling life insurance policies. How about benefiting from them?

    by Mufti Faisal December 18, 2013
    by Mufti Faisal December 18, 2013 3 minutes read

    My job duties include selling insurance policies. Is it permissible for me to take this …

    Read more
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  • Banking and InterestFiqhIslamic Finance

    Working on IVR Engine Software for multiple clients etc.

    by Mufti Faisal September 13, 2013
    by Mufti Faisal September 13, 2013 4 minutes read

    In principle, becoming an active part of any transaction which involves interest or haram is …

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  • Banking and InterestPermissible and Impermissible

    My cousin’s university is forcefuly charging Rs1000 to take part in a haram event. Can she pay this through interest money?

    by Mufti Faisal May 28, 2013
    by Mufti Faisal May 28, 2013 2 minutes read

    Question: My cousin sister is studying in medical collage,the admins of her collage are going …

    Read more
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  • Banking and InterestPermissible and Impermissible

    We are not sure who will use the software we have developed. Would the income be permissible?

    by Mufti Faisal May 9, 2013
    by Mufti Faisal May 9, 2013 3 minutes read

    Question: We are developing a software, in which any client from any background can come …

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  • Banking and InterestIslamic FinancePermissible and Impermissible

    Is Working as a “Notary Signing Agent” permissible?

    by Mufti Faisal April 17, 2013
    by Mufti Faisal April 17, 2013 3 minutes read

    Question: I am living in USA and working as a “Notary Signing Agent” , an …

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  • Banking and InterestInvestments and ContractsIslamic Finance

    I wanted to know if investing with Uinvest Halal?

    by Mufti Faisal March 28, 2013
    by Mufti Faisal March 28, 2013 3 minutes read

    Question: I wanted to know if investing with Uinvest is Halal ? UInvest is an …

    Read more
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  • Banking and InterestIslamic Finance

    What are the alternatives in shariah for student loans in the western countries?

    by Mufti Faisal March 24, 2013
    by Mufti Faisal March 24, 2013 2 minutes read

    Question: Could you please guide me about student loans. What are the alternatives in shariah …

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  • Banking and InterestIslamic Finance

    Interest and Mortgage in western countries. Should we revise our understanding of Riba?

    by Mufti Faisal March 23, 2013
    by Mufti Faisal March 23, 2013 23 minutes read

    A Muslim living in Canada questions the prohibition of interest-based mortgages, arguing that most Muslims …

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  • Banking and InterestInvestments and ContractsIslamic Finance

    How do we get out of debts?

    by Mufti Faisal December 20, 2012
    by Mufti Faisal December 20, 2012 7 minutes read

    Question: Me and my husband have been alhamdullilah Been married for 4 years now. But from Knowledge …

    Read more
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  • Is Fussilat.com website authentic and can be used for teaching Daura-e-Quran?

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