No, it would not be permissible for the company to engage in borrowing on interest and providing financing Islamically.
Using Riba Based Income as Capital
It would be permissible to keep the money because the sin of the riba returns to the person dealing in the riba, not the one receiving the money....
It would be permissible to keep the money because the sin of the riba returns to the person dealing in the riba, not the one receiving the money....
Interest-Free Account In A Conventional Bank
It is recommended to maintain bank accounts at Islamic banks, though it is permissible to maintain an interest-free account in a conventional bank.
It is recommended to maintain bank accounts at Islamic banks, though it is permissible to maintain an interest-free account in a conventional bank.
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.
Paying Service Fee To A Bank
It is permissible to pay a bank fee or transaction fee for such services as maintaining an account, using an automated teller machine, purchasing...
It is permissible to pay a bank fee or transaction fee for such services as maintaining an account, using an automated teller machine, purchasing...
Unlike Goods - Cash
As regards cash, "like" refers only to the same currency.
As regards cash, "like" refers only to the same currency.
Using A 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...
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