Browse one of the world's largest database of Islamic finance Q&As available online.
Search Results
Interest-Bearing Accounts
All interest-bearing bank accounts, however low the interest rate, are impermissible to maintain; in the rare event that there is absolutely no...
All interest-bearing bank accounts, however low the interest rate, are impermissible to maintain; in the rare event that there is absolutely no...
Unlike Goods - Cash
As regards cash, “like” refers only to the same currency.
As regards cash, “like” refers only to the same currency.
Interest On Credit Card
It is impermissible to use a credit card that charges an interest rate, unless one is certain that one is able to repay borrowed amounts before...
It is impermissible to use a credit card that charges an interest rate, unless one is certain that one is able to repay borrowed amounts before...
Selling Interest-Based Credit Card
It impermissible to assist in the purchase of a credit card that charges an interest rate, and offensive to assist in the purchase of a credit card...
It impermissible to assist in the purchase of a credit card that charges an interest rate, and offensive to assist in the purchase of a credit card...
Unlike Goods
If substantive value addition to the good entirely transforms its original form and content (e.g. oak wood and oak furniture), then the goods are...
If substantive value addition to the good entirely transforms its original form and content (e.g. oak wood and oak furniture), then the goods are...
Occurrence Of Riba
Riba occurs when there is an unequal exchange of like goods or mediums of exchange, where “like” is defined as goods that are inherently similar...
Riba occurs when there is an unequal exchange of like goods or mediums of exchange, where “like” is defined as goods that are inherently similar...
Increment Over Lent Amount
It is forbidden to charge any increment, however small, over the principal lent amount, regardless of the duration of the loan.
It is forbidden to charge any increment, however small, over the principal lent amount, regardless of the duration of the loan.
Monetary Penalty
It is unlawful to charge a monetary penalty on any form of monetary payment (e.g. fees for late rental payments, car payments, loan installments,...
It is unlawful to charge a monetary penalty on any form of monetary payment (e.g. fees for late rental payments, car payments, loan installments,...
Direct Involvement In Interest-Based Transactions
Unlawfulness depends on how direct one’s involvement is to the interest dealings: direct involvement entails that one participates in the actual...
Unlawfulness depends on how direct one’s involvement is to the interest dealings: direct involvement entails that one participates in the actual...
Interest Dealings Of Counterparty
One is not answerable for the interest dealings of the party with whom one transacts unless one is also directly involved in the interest dealings;...
One is not answerable for the interest dealings of the party with whom one transacts unless one is also directly involved in the interest dealings;...
Disclaimer: Although care has been taken in preparing the information contained in this Q&A database, Ethica Institute of Islamic Finance cannot guarantee the accuracy thereof. Anyone using the information does so at their own risk and shall be deemed to indemnify Ethica Institute of Islamic Finance from any and all injury or damage arising from such use. One should double check with a qualified scholar to see whether the Q&A applies to one's particular situation.
ASK AN ISLAMIC FINANCE QUESTION
Each question is reviewed by an Islamic finance expert and approved by a scholar.
