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  • Economic Issues

Buying a house on Mortgage for commercial purposes

Question I live in UK in a house for which I pay mortgage. From the Islamic point of view would I be justified in buying another house on mortgage purely for business purposes? Answer Taking a loan on interest and subsequently paying the contracted interest does not fall under the category of cooperating in the … Read more »

Buying a house on Mortgage

Question I want to purchase a house in the UK. I cant do that unless I use mortgage money. I have been informed that it is mandatory to get the insurance for both the house and your life. The only optional thing in this regard is insurance for the contents of the house. What should … Read more »

Mr. Jochen Katz’ and Mr. Jacque Weddle’s Comments…

Question The First Comment The problem is that you might convince some or even a good number of already peacefully inclined Muslims, but will this “automatically” lead to change? No, if everyone waits for somebody else to take up political action then very little will be done and the field is still left to those … Read more »

Inheritance

Question: What is status (inheritance point of view) of a house purchased equally by deceased father and elder son (50% each share), being maintained by elder son through out, while rest of brothers and sister did nothing for up keeping the house? Though this fact is known by all brothers and sister and family members … Read more »

Explanation of hadith on Riba

Question Kindly explain the following hadith which clearly prohibits paying of Riba as well; From Jabir: The Prophet, may peace be on him, cursed the receiver and the payer of riba, the one who records it and the two witnesses to the transaction and said: “They are all alike [in guilt].” (Muslim, Kitab al-Musaqat, Bab … Read more »

Standing Guarantee on an Interest Bearing Loan

Question Our company gives loans to its employees on interest (4 to 5 %). One of my colleagues has applied for it & he is asking me to become a guarantor for that. The guarantor gives the surety that in case of non-payment of that loan he will pay it. Does this help come under … Read more »

Bank Loan&Credit cards

Question: Salaam Brother, Totally disagree with your answer in response to my first question on ‘bank loans and credit cards’. As credit card is concerned, when we apply for c/c we accept the terms and conditions which is totally against the teachings of Islam, even if we pay the full balance on time to avoid … Read more »

Spending in the way of God

Question: The Quran talks about people who do not spend in the way of God. What are the sources to spend in the way of God? Is it to build mosques/support hufaz/madrissahs? Or is there more to it? Answer: Salaam sister Many thanks for your query. So long as the intention behind the spending is … Read more »

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