Riba Modern day Interest

Is Interest from a bank allowed in Islam?

Category:

People & Blogs

Tags:

• Riba
• Interest
• Haram
• Finace
• Islam
• Islamic
• banking

[SAJEDMUNIR]

DONT SACRIFICE YOUR RELIGION FOR RIBA

[SAJEDMUNIR]

INTEREST DESTROYS COMMUNITIES

[yaqubali]

its a whole haram money fiat money is also haram u can't get make money out of thin air

[AbdullahSeymour]

Interest from the bank is just one tiny aspect of riba. Riba is much more than interest. To limit riba to just interest is a trick. Riba also means we cannot accept paper as money, nor can we accept creating money out of thin air, nor can we accept 'Islamic' banks, which are no different to conventional banks.

[77moessa]

riba is a disease for all mankind.

[imperial881]

@aminul1984 1 more thing, interest rate is compounded while the buy the house n sell the house, both know the selling price, clear, certainty, the buyer knw how much he will pay, the sell knw how much he will sell.. in my country, people see hse price rm200k, at certain interest rate, loan period abt 10 to 20 years( more affordable) then until they pay off the mortgages- they only realize tat they pay more than 400k ...interest rate alone is more than 200k...People!! this is uncertainty, unfair

[aminul1984]

@usamajaved12 The difference is this.

When someone lends you £10000 to buy a house and they charge you £12000 in total to pay it back, they are making money from nothing which is Haram in Islam.

When someone buys a house for you for £10000 and is selling it to you for £12000 but you pay in monthly installments, it is Halal because they are making money from a physical item, this is considered profit money. They are not making money from nothing.

[alnarweeg92]

@gambaownsus

then stop selling

[gambaownsus]

im selling mastercards on phone i feel bad about it is it haram, dod i declare war with God please help me out muslims brother please!!!!!!!!!!!!11

[jackfatal2]

i just wanted to correct shaikh khalid yasin about Allah waging war on those who does not stop riba. it is true , but also Allah said (meaning) he will wage war on those who take His awlaya's (friends) as enemies.

so not only one case but two cases where Allah wages war on someone.

i hope the shaikh will see this message or someone delivers it to him please.

[ucdisochalaqa]

@usamajaved12 in the 2nd scenario when you tell the person that you bought it for £12000, that counts as lying so thats haram aswell. also i think the prophet cursed the people who do business like that (im not completly sure about the second part but i think so)

[TheSaffyone]

@usamajaved12 Because interest is a continues process normally yearly. for example 20% a year.

In the second secnario there is no interest and in the event you fail to pay the installment then they can sell the house take what it is owed and give you the rest if u have any left. In Riba you loose your house because too busy paying the interest.