Buying a Car or Home Without Riba (Interest)

[UmarNewMuslim]

lol.. houses in australia are about 350,000 $ AUD

[zakaslam1]

If the 2.8 million muslims removed thier cash from the banking system , the uk will not be able to fund the war in IRAQ or afghanistan , amazing fact !

[OKREDHOT]

@ArabNobility in every capitalist countries, there are regulations. So any muslim government can put some limit without any contradiction to the core principles of capitalism. the fact that this economic system (which can get along with islamic ethics and principles) have risen welfare (even if they are still poor people, they are better off than before capitalism).

liberals and socialists are against all islamic ethics and history (communism never had strong support in the muslim world).

[uman43]

The struggle that every person in west and other countries who think borrowing or lending is good for meeting their luxury life and needs. The fact is that they are struggling against themselves with no peace of mind and uncertainity that involves risks. Interest money is haraam because it destroys your peace, life, and creates more debt and debt. US has so much debt on China in Trillions due of the Interest system that is the biggest struggle ever.

[WorldIslamicOrder]

WHAT A BULL SHIT ANSWER

[OKREDHOT]

islam FULLY supports capitalism, our prophet saws was a trader, working is very important in ISLAM, because you have to be independand financially from the others but on the other hand, if you have some problems, you should be helped (sadaka and zakat). Even if you look at tax ZAKAT, it's a quite small amount (2,5% of your savings), lower than any capitalist country

islam has nothing to do with socialism, which wants to replace Allah and any authority by a strong State ASTAGHFIRULLAH

[Mashoo667]

Honestly people just need to stop being materialistic and live a simple life like our prophet muhammed saw

[HIMAZZZ1991]

ENOUGH OF THIS CAPITALIST NONSENSE.....ISLAM IS THE TRUE SOLUTION!!!

[GUPTABAG]

jazak Allah khayr

[RealMusicKing]

Live like the Amish people do. They are carpenters, builders, work on their fields & grow vegatation, sell it and buy everything on CASH. But migrated Muslims want to live like Barons when in West. No westerner in Europe, USA or Canada lives the lavish living that Muslims acquire in living in West, all on Riba of course.

Migrated Muslim should learn from the westerners as how to live DOWN TO EARTH something what Islam teaches!!!!!

[77moessa]

In today's world its all about show. When a person buys a car or even a house that they simply cannot afford,they only buy it to show others. To say to others,mainly family,relatives,yeah look at my swanky brand new car,or look at my five bedroom house. but in the long run the others will either only become jealous or they simply just dont care. so is it really worth the hassle? buy what you can afford. who cares what the others think or say.

[AcccountDisabled]

@77moessa NOT really. What a stupid answer. Some people are sick of paying $1000 of rent for a 2 bedroom tiny apartment when they can pay $900 for a 3+2 bedroom home that is enough and spacious for their family. Prophet SAW said he likes five things and one was a spacious home.

[suavebone]

Take your taqiyya sharia jaziya bullcrap elsewhere America is just fine!

Oh yeaaa, UTOPIA, why are the majority Muslim nations so broke!

Surprise youvebeen here before America, and still in the same century!

#*%@ ISLAM INFILTRATION!

This comparision of ISLAM FINC vs US CAPITALISM is ...............ASININE

So are banks gonna operate as non- profit!

GTFOH

[thecall2truth]

@suavebone wow you learned two whole Arabic words(what the crap is jaziya?) see all the web surfing on teabagger dot coom is paying off , now you can get into debates and say words like taqiyya ....your a freakin genius now!

[roman333universal]

Bullshit!!! so whats the basic difference between interest and rental on house (original+extra)??? this does not make sense at all. in mortgage u have insurance to back losses for investors. THIS is just another deception... this guy needs some real lessonsss...

[tuguy75]

@roman333universal perhaps an example will help u see the difference between a common interest based mortgage system and a system based on cooperative houseowning. what happens when there is massive reduction in house prices by the market? In the interest based system, nothing changes with the loan at all, still same amount of payments. In this system, everyone takes a loss in value from the original purchase price; rent as well as overall value goes down when real market value is reassessed.

[tuguy75]

@roman333universal u noted correctly that in some cases u have insurance to back losses for investors in the classic mortgage interest-based system of house ownership. However, the money lost on the house due to market conditions (as is the current state) hits the recipient of the loan the hardest. this person is still paying the payments in the loan at the previous market value of the home. The investors (lenders) are fine, but the recipient of the loan is underwater financially.

[jihadulnafs]

im getting really p'd off by what the brothers say about what is halal and what is haram. how can somthing be shirk than at the same time be fardh, ie voting in kufr society. i thought islam was clear

[AcccountDisabled]

@jihadulnafs Voting has nothing to do with Islam. Our Muslim countries do not give any rights to us. They do not even follow Islam properly. Come to Toronto you will see how stronger the Muslim community is more than Muslim countries. If you live in a land, we are obligated to obey their rules and participate, nothing in Islam says not to vote! DUMB

[77moessa]

@AcccountDisabled Brother/sister u should listen to yourself. Who said i was giving an answer? i was simply pointing out my view about riba and dealing with riba. i live in u.k and majority of muslims that r mirpuri are dealing in riba. taking out loans, doing mortages, which is common in our muslim community. i dont know about your sides in toronto bit its big time here. they even deal in drugs. Majority of them are mirpuri's. i am a punjabi muslim. Muslims think riba is just a slap on the hand

[AcccountDisabled]

@77moessa Of course Riba is not a joke. Whoever deals with Riba has started war with Allah and his Messenger. May Allah save us all. All I am saying is, we do have a need to buy a house, people become desperate, they do not know Riba is serious. No body wants to show off that they have a house. They are simply tired of paying for rent when they are able to get a mortgage cheaper and pay off a house. This is why most people get sucked into it. paying high rent should be haram

[77moessa]

@AcccountDisabled Remember what the prophet of Allah(sal wa salam) said. pass through this world as if u r a stranger. meaning nothing will go with us when we die. just our deeds(good and bad) nothing else,not our house,our car our family,our wealth. Mortgage means TRAP. This stupid goverment should allow people to buy a house without the us having to pay the interest. like put a deposit down,and then pay the rest of with rent. But of course they would never do that.its all about money 2 them

[PersonOfBook]

u can rent a car if u require it so desperately, but don't get a deal with a bank! its haraam!

[PersonOfBook]

Well if you can't buy a thing, don't buy it! its foolish to buy something u can't afford!

[LoganCook949]

good video, what i found to make money quickly was to sign up to a site known as Heavy dollars - its easy, you do short email surveys and get money

[MrDjangofan]

He brings up the buying a care example at 3 minutes into the video. The solution is to give the buyer a chart that says what milage and age the car is and how much the dealer will buy the car back (as part of the original contract of buying at a higher price). So, the seller takes part of the risk by being required to buy the car back whenever the seller wants to sell it.

[MrDjangofan]

Evil: earning interest on debt you loan to other people

Not Evil: paying interest to evil people

[PersonOfBook]

@MrDjangofan both payers of interest and earners of interest are equal. If there were no one to take loans, those people won't do there business, so they are partners in crime!

[MELONSCOFFER]

if you muslims all love each other so much why dont the rich ones just buy others a house and car for no return . thats true faith

[alitou001]

Actualy there are rich people doing so ! beside there what it's called Zakat,wich each muslim gives an anually amount of (agriculture produce : 5% produce in case of irrigated land; 10% of produce from rain fed land) and/or (2.5% of cash,gold,silver,trading goods,Produce of mines,Cows & buffaloes..ect)

[alitou001]

and its given specificaly to :1. The needy (Muslims or non-Muslim)- Fuqara'

2. Extremely poor (Muslims or non-Muslims) - Al-Masakin

3. Those employed to collect - Aamileen

4. Those whose hearts are to be won - Muallafatbul Qulboob

5. To free the captives - Ar-Riqaab

6. Those in debt (Muslims or non-Muslims) - Al Ghaarimeen

7. In the way of Allah - Fi sabil Allah

8. Wayfarer (Muslims or non-Muslims)- Ibonus-Sabael

[chaosbringer127]

ya we do indirectly its called zakat

we give 2.5% of our wealth annually as charity

its required.

That money goes to those in need, and if a poor family needs a car that money would finance a car for them.

[corleone1820]

paper money itself is haram..actually..because the value can drop or increase..

[hamidmushtaq]

u r very right corleno1820! unless we have an Islamic currency which is based on gold, silver or any other precious metal, it is impossible to do Islamic banking. e-dinar is a good initiative in this regard. Besides that, Islamic banks are notorious for doing the same thing as conventional banks, but calling it interest free by mere use of words. They indeed are compatible with capitalism, which is inherently evil. Elimination of fiat money should be the first step of building an islamic economy

[LetsCook2gether]

I have another question

Selling for example an ebook (PDF)

Is this also a form of Riba?

Because its like a cashcow if you know what I mean. (digital products) You can make it ones and can milk it for a long time.

[OceansDebth]

i always had doubts about "renting under the psomiss of purchase" but he had made the diffrence stands out clearly so thank you very much for that.

Peace.

[drrobotnik999]

....grow up. your religion was invented by fallible human beings, just like every other religion.

YOU are responsible for yourself, not some invisible father.

[bazzoola]

There is no invisible father

[alphamain]

Muslims have visible fathers only...Perhaps, you sir have an invisible father as explained by your momma.

[probokator]

Saving is the main problem here...

I receive my salary in money

If I saving them in 5 year, I still cannot afford to buy house because the value of money is decreased rapidly. If I dont get house now, I have to rent, thats make my saving less.

[IQ233]

~~~~~~~~Everyone should watch "The Prohibition of Riba" series on youtube~~~~~~~

[MoPete15]

These days are trying times for all Muslims.. Do the best you can do brothers and sisters..

May Allah guide us all..

[shani3316]

Interest in other words is a > Rent charged on money loaned. Morons!

Interest can be indirectly classified as "Rent"

Interest is shit, thats why capitalism system is failing. Communism failed... and other system will also fail in the long-run which operates on interest

[alphamain]

Rent is the same as interest??? I don't think so. Nobody pays interest when they occupy an apartment...we pay rent. Just like nobody pay rent on amount owed...we pay interests. Money is not properties my friend...especially FIAT money...Gold Dinar may considered as a property because it is worth its face value.

[hamidmushtaq]

islamic banking is the same as conventional banking. you can grab your right ear with your right hand, or u could do it with the left hand, but u r doing the same thing! banking in itself is unislamic and there is no way to make it halaal. the effect of islamic banks is exactly the same as that of conventional banks where the bankers are profiting without doing any productive work. Infact they take away money of those who work hard for their living. Thats y i hate banking and those bankers!

[alphamain]

I understand your frustration with Banks in general. You claim that bank is not doing any productive works...let us see, if a merchant give you money to set-up a business and become a sleeping partner, does the merchant entitled to a portion of the profit? If yes, then does the merchant did any productive works?

[hamidmushtaq]

At least the merchant earned his money through some effort in the first place, but the banks don't lend us their own money, infact they take from others and then lend to others. so they r sitting in between and reaping benefits without doing any effort. Without bankers, people would be much prosperous. Not only bankers earn undeserving money, but they are also filthy rich, while people working their butts off are not that well to do!

[alphamain]

Bankers are filthy rich, thanks to the capitalist system. Do you have any alternative to banking?

[hamidmushtaq]

Yes I do have an alternative. First thing to do is to get rid of fiat money and make a currency based on gold, silver etc... e-dinar is a good initiative. Banks should only be there for keeping people's money and transferring and withdrawing etc... and they should charge fees for it. Now about lending, that should be non-profit and preferably be done by a Government institution. In this way public money is given back to people for starting a business etc... but without interest! u liked the idea

[alphamain]

Good idea...now, how do we translate this idea into a reality?

First thing first...education. Muslims or at least a sizeable numbers of muslim students must be trained in Islamic Finance/Economics from primary school. There must be tertiary institutions or academies to produce muslims who are well versed in the relevant subjects. The most promising students from all over Islamic world should be in the academy...they should replicate the academy in their own countries or cities.

[alphamain]

Capitalists should never be allowed to monopolize business and finance.

The current Islamic banking system is a step towards total Islamic solutions to economy and finance.

Now that many muslims and non-muslims are warming up to the idea of Islamic finance...we can offer a more hardcore alternative to those who wants it...believe me, a lot of people do want a TOTAL Islamic finance - free of riba' and ambiguities...see how successful the Gold Dinar is...niche market worth expanding.

[hamidmushtaq]

Exactly, I'm suprised that children in west are taught Sex education but they are never told how money is created and anything about finance. If people were taught money creation and fractional reserve banking more openly, I'm sure 90% of people would have turned against the current capitalist practices. These practices are kept hidden from public!

[hamidmushtaq]

The reason people cannot think of another system other than the present capitalist system is that all economics and business students are taught assuming they will work in a capitalist environment. That is why you see that even Islamic bankers try to do exactly the same business as conventional bankers, but justify it by signing fatwas from paid scholars. If you read their documents, you can see how flagrantly they are unislamic.

[hamidmushtaq]

I don't thing Islamic banking is right. What Islamic bank, does is to buy a house or a car only when it is sure it has to sell it to you. According to an Ahadith, you cannot sell a product unless you own it and you have to take your products at a place to sell it. But since, islamic bank only purchase to sell it to you, the ownership is phony! Its just like first people in a small village went to a rich man for loan (conventional bank), and now they ask him to buy something for them!

[alphamain]

You may be right...and maybe wrong...but most importantly do have a better system?

What is your opinion of muslims opting to stick with conventional system and enriching non-muslims including our sworn-enemies...the freemasons and Zionists?

[saady23]

agree!!!!

[PersonOfBook]

@alphamain Actually Islamic Banking is about sticking to the present capitalist system. Islamic economy is totally different from the present capitalist economy!

[prana888]

why are the 2 persons who replied me think i said that rent is interest?

is english their 3rd or 4th language?

[alphamain]

Great...you are a very good communicator...

My dear prana...the point of communication is to convey your message to the other parties...obviously you did not do a good job...instead of correcting yourself...you decide to insult...Great!

[prana888]

those who accuse blindly one by one are more insulting. typing blindy and agreeing with the blind.

[alphamain]

Sorry if I offend you dear prana888. May God Almighty bless your life. Peace.

[prana888]

sorry too for any disagreements. May God bless you.

[prana888]

yeah. rent is not interest. which person said so? he is misinformed. sad.

[turjo101]

how the hell is rent interest?!?

[alphamain]

Ha Ha Ha...rent is never an interest...can you prove it otherwise?

[prana888]

i never said rent is interest. omg. u dun understand what i wrote. sigh.

[gangstasal85]

interest is money paid on borrowed asset, look it up, its the same as rent to someone with a MBA in finance or investment

[gangstasal85]

interest is a fee paid on borrowed assets AKA rent.

rent is fee paid on borrowed asset

door swings both ways

[alphamain]

What are you trying to say, Bro?

[abdullatheturd]

Is it not written that the QURAN says that when two muslims agree to rent a home then they must not charge rent as this would be considered interest!

[turjo101]

where does it say this in the Quran?!? It is completely illogical..please find the verse and post it...dont ask if the Quran says this...

[toot311]

this is double (interest)riba, Do you know how many muslims have own homes.Who own the rental properties.Huge profit is not for muslims.Dont they read SURAH AL-HUMAZA.Because muslims are far away from their religion.Islamic economy isto help poor.The aya you recited is not for this occasion,not owning a house,he did bad? Make a home in Jannah (Paradise) tell these peole how they can. GIVE QARDH HASANA TO ALLAH(SWT) AND ALLAH (swt)WILL REWARD YOU. When we will listen and understand???

[Ghazelworld]

Does anybody know if there is Islamic Bank in USA so I could borrow student loans from?

Your advices are welcome.

Thanks

[Nazihah06]

I'm not in the USA but I do know a site.

lariba [dot]com

I'm not exactly sure if they have the student loans service but you can definitely check out with them. InshaAllah they can help you out.

[triniidaddy]

So what happens when the "homeowner" defaults?

[khyemamri]

he rents!

[triniidaddy]

OK this is starting to get tautological. If he/she can't pay the rent?

[khyemamri]

message me... since you can't afford to rent a room or a house, nor own a house... - tautological basically means 'Redundant!'

If you can't afford rent - GET A JOB!!!

[triniidaddy]

That's a pretty ignorant response. Why would you assume that I am looking to buy a house or that I don't have a job? I know what tautological means, I would not have used it if I didn't know what it meant. My first inquiry was; what happens if the home "owner" can't pay the rent, i.e. defaults? My point was that the program is basically transferring the risk from the "bank" to the "investors". If the "owner" get injured in the job or something they can't pay.

[khyemamri]

well I said message me, but now you say I am ignorant - but I could see you were just pulling new "if's" out of the bag... - if you are injured - you should especially bite your tongue from malice and write me in a forgiving state...

Peace and Salam,

Khy'em

[MustafaPresents]

Muslims who by choice move to a non-Islamic country, so that they can live the "good life," have no one to blame but themselves when confronted with the problems associated with a jahili system.

[sar7an00]

but bro dont get me wrong ,it is hard to built up ur career without having a respected degree from a respected university ,from the 500 best universities in the world none of them are in islamic countries ,and i had a chance why would i blew it

[sar7an00]

and name one country that have an islamic system ?

[MustafaPresents]

The question really is where a person can live a more Islamic-oriented lifestyle. If today's Muslim societies don't offer even that, then they have completely failed.

[sar7an00]

man we have been failing in doing si for the last 100 yrs but hopefully t will happen and well be able to see it in our lifetime to know how it feel to have an islamic society who belesbe in allah

[sar7an00]

believe in allah

[nazirdjon]

Malaysia. with more coming up on the line

[Manjo1981]

@sar7an00 BANGLADESH

[Manjo1981]

@sar7an00 BANGLADESH , that is if you know such country exists

[Reqrezentin]

@sar7an00

All Arab countries have Islamic systems, Iran has it and so does Pakistan and Bangladesh as well as Indonesia etc.

Go fuck yourself.

[iseeyouf]

@sar7an00 Saudia Arabia

[TheSaffyone]

@iseeyouf Saudi Arabia doesn't follow the correct Islam

[norizanmohd]

@sar7an00 none! All is contaminated with the system embedded deliberately to corrupt mankind.

[SultanMehmed]

Agreed. 100%.

[AcccountDisabled]

@MustafaPresents Jahili system you say. Our OWN MUSLIM countries are CORRUPT who listen NOT the the Quran, who give NO RIGHTS to WOMEN, who have no shame, no terms of proper justice system, yet you ask us why we move to non-Muslim countries? Disgusting! Non Muslim lands are more closer to Shariah and Islam then our own CORRUPT SO CALLED ISLAMIC COUNTRIES

[gamer503]

@MustafaPresents even suadi arabia has this stuff

[gjhgfasgiasglsgsgui]

I am always gladly amazed how Allah has given us the holy Qur'an,he has blessed us with his Rahma in it.

[genie0390]

The Arabs are operating the biggest oil monopoly in history but hate "interest". What BS!

[sar7an00]

those countries have an american oil companies and they have a hand in it ,and maybe they are the one who incourage them , and what about microsoft , macdonalds and other american global monopolies spread through the world this is the BS!!!!!!

[nazirdjon]

don't worry, Muslims and those "oil monompolies" have their own issues. u didn't discover America by those words

[genie0390]

nazirdjon,

"don't worry, Muslims and those "oil monompolies" have their own issues. u didn't discover America by those words"

what do you mean to say? i don't get it. not much good at cryptic messages or whatever

[nazirdjon]

you mentioned those "muslims" oil sellers incorporating with US corporations. They (of course perhaps not all of them) are under critics by Muslims as well for their irresponsibility and negliance.

[andjack]

There are a few "gamaja" banks here in Sweden. It is supposed to work ok. So it's a good idea.

[avempace000]

As most people are not aware, everyone pays interest via taxes -- interest on the money that their respective govts borrow from private corporations (i.e. private banks [includes most central banks]). As long we're subject to the debt-interest based system, band-aid attempts at Islamic financing/housing are futile. Monetary reform is answer.

[TheCritic101]

You are absolutely right that we pay interest, unwillingly, I might add. But interest free banking is not a "band-aid" solution, as you suggest. Islam prohibits all banking, period.

[TheCritic101]

The printing of legal tender for the goverment by the unconstitutional federal reserve, and the subsequent payment of interest by the government for this service is a western invention, and a western problem, as well as a problem of those who practise it. These Muslims are seeking to follow the precepts of their religion, not to solve western problems.

[satanicaa]

mashalla good video

[madina55]

This is the genius of our religion. The fact that Islam does not only tell us avoid illigal or "bad" stuff, it helps us and shows us how to be on a right path. Allah Akbar!

[madina55]

Ameen.