Question   I have a question about credit cards payment i would like to know that if i have bought something on credit card and i pay monthly installments on it on which the bank charges interest on it so kindly tell me that since i am paying interest to the bank so is it haram to do that and if it is kindly guide me so i can be on the correct path   Answer   Muhtaram / Muhtaramah   In the Name of Allāh, the Most … [Read more...]

Question   I have invested some money in MTN shares. The fund does not allow me to withdraw the money for a period of one year as the share scheme was a BEE initiative. I am at this stage not sure if the total value invested will be approved for share allocation as there is a limited number of allocations. Is Zakaat payable if the money is not currently in my possession? If yes,on what value must Zakaat be paid, the current share value … [Read more...]

Question Is it halal for an Amil to take money? Please not an Amil not Alim   Answer In the Name of Allāh, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum wa-rahmatullāh wa-barakātuh.   It is permissible for an Amil to charge a fee for his service and time And Allah knows best Darul Iftaa Madrasah Inaa’miyyah The Sharée ruling herein given is specifically based on the question posed and should be read in conjunction … [Read more...]

Question: Please advise if I am able to use interest monies to pay for my children’s' education? I was previously advised that the interest monies may be used to build toilets, pay traffic fines or be given to a non Muslim however I have heard that the monies may be used to pay for children’s' education.       Answer Muhtaram / Muhtaramah   In the Name of Allāh, the Most Gracious, the Most Merciful. As-salāmu ‘alaykum … [Read more...]

  Question     1. is it permitted in islam to lend money to non-muslims who are in need of money? they might use it for things that are not permitted in islam.. is this ok? 2. i am planning to buy a car. i wont be able to pay the full price of the car all at once. So i am planning to go for a loan from an islamic bank. I have heard that they operate according to the sharia'ah. Can you please explain in brief, how taking a loan from an … [Read more...]

Question   We have much accumulated interest funds that we have unintentionally received from the banks. We know that in our community there a lot of people who are struggling with day to day survival and are turning to the banks for loans based on interest. Some of these brothers are genuinely stuck and are in need of help for them to get out of this vicious circle of interest.   Could we help these brothers to pay off their … [Read more...]