Category : Interest
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Chit Funds
As’salamu alaykum wa rehmatullahi wa barkatuhu. There is a chit scheme.In this lets say about 10people and 1 agent will be involved..these 10 people will pay 10,000 each for 10 months(that means 100,000 (10,000*10people’s money) will be gathered each month).The agent will take ...
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Gratuity and Pension Fund
I am employed in an organization where monthly deduction is made on account of Gratuity and Pension Funds (GPF). These funds are given at the time of retirement to the employee. The employer invests these funds . There are 02 categories of GPF interest bearing and non -interest bearing . B...
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Filing away records of interest transactions
Assalamu ‘alaykum warahmatullahi wabarakatuhu, “I work in the “contracts” department of a comp...
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Paying traffic fines with interest
Asslaamu alaykum, Can we pay our traffic fines with interest money? ...
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Seller knowing that the customer is paying with money loaned from the bank
Assalamu alaykum wa rahmatullahi wa barakatuhu If a buyer pays with a cheque, and the seller knows that the buyer took a loan from the bank to pay for his goods, will it be permissible for him to conclude the deal? Likewise, if I sell cars and I know the customer is financing it thr...
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Sellers knows money is from bank
Assalamu alaykum, If a buyer pays with a cheque, and the seller knows that the buyer Took a loan from the bank to pay for his goods, will it be permissible for him to conclude the deal? ...
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Working in an interest-based bank
Assalamualaykum mufti sahib, Is it permissible or impermissible to work in interest based banks in India, such as, State Bank of India, Punjab National Bank, etcetera? ...