Stats: 3,187,070 members, 7,931,685 topics. Date: Monday, 26 August 2024 at 10:46 AM |
Nairaland Forum / Nairaland / General / Religion / Islam for Muslims / The Evils Of Interest Based Loans & Mortgages (15432 Views)
Why Muslims Don't Take Interest-based Loans? / Ruling On Muslim Working In An Interest-based Bank / Evils Of Music (2) (3) (4)
The Evils Of Interest Based Loans & Mortgages by Amoto94(m): 6:29am On Dec 22, 2021 |
The Evils Of Interest Based Loans & Mortgages Question: Is it allowed for me to take out a loan (Mortgage) from a bank that deals with interest to buy a house? Benefit us may Allaah reward you with good. Answer: Even if you were in dire need of eating a piece of bread to save yourself from death still don't borrow anything from the bank whatsoever, let alone buying a house or a car. When one is in a adverse situation forced by circumstance (severe hunger) Allaah has made lawful for you al-Maitah (dead animals), and the flesh of swine, and that which has been killed by a violent blow or by a headlong fall; yet ar-Ribaa (interest) has not been allowed for you, interest is very dangerous, very dangerous. So don't deal with interest and be patient; since Allaah the Perfect and the Most High mentions: And whosoever fears Allaah and keeps his duty to Him, He will make a way for him to get out (from every difficulty). And He will provide him from (sources) he never could imagine. And whosoever puts his trust in Allaah, then He will suffice him. (Surah At-Talaq 65:2-3) So dealing with interest is a grave sin, a dangerous matter and the one who makes it allowable has disbelieved. Therefore if you are in need of a house then be patient until Allaah provides it for you, seek refuge in Allaah and utilise the necessary means until Allaah paves the way for you to obtain a house. Either that or you die being free from waging war against Allaah. Since the Muraabi (the one who deals with interest) is warring with Allaah - and Allaahs refuge is sought - as Allaah the Perfect and the Most High mentions: And if you do not do it, then take a notice of war from Allaah and His Messenger but if you repent, you shall have your capital sums. Deal not unjustly (by asking more than your capital sums), and you shall not be dealt with unjustly (by receiving less than your capital sums). (Surah al-Baqarah 2:279) He (Allaah) declares war upon the people of ar-Ribaa (interest) and "the Messenger of Allaah (sallAllaahu alayhi wa sallam) cursed the usurper of interest, the one who pays it, the one who records it and the two witnesses to it." [Reported by Muslim in his Sahih (11/36 no.1598 - Nawawi) from the Hadith of Jaabir radiallaahu 'anhu] What do you want after the curse?! Will the house benefit you when you are in front of the Hellfire?! So the believer should fear Allaah and should have patience upon his destitution and his need; for indeed Allaah the Perfect and the Most High mentions: And certainly, We shall test you with something of fear, hunger, loss of wealth, lives and fruits, but give glad tidings to the patient ones. (Surah al-Baqarah 2:155) Be patient and Allaah will give you this mighty reward instead of exposing yourself to His curse, His anger, His wrath and His punishment. Bear this severity in the world for it is nothing in comparison to the anger of Allaah and His punishment. We ask Allaah that He protects us by His grace and favour from everything that incurs His anger and wrath. Indeed our Lord is All-Hearing of our supplications. And may the blessings of Allaah and peace be upon our prophet Muhammad, his family and upon his companions. Shaykh Rabee` bin Haadee Ad-durar an-Nadheed min Muhaadharaatil-'Aqeedah wat- Tawheed : Tafseer Kalimati-Tawheed, Questions & Answers, page 118-119. Translated by Abu 'Abdillaah al-Kashmiree 12 Likes 3 Shares |
Re: The Evils Of Interest Based Loans & Mortgages by motayoayinde: 12:48pm On Dec 22, 2021 |
JAZAAKALLAH 4 Likes |
Re: The Evils Of Interest Based Loans & Mortgages by AntiChristian: 6:29am On Dec 23, 2021 |
Akhee Amoto94, Do we count these as interest too? A. I gave a farmer a sum of money and after harvest and sales of produce he gives me back my capital plus a fraction of the capital. B. I gave a real estate developer a sum of money to be used to develop houses or estates and to pay back a certain %age of the capital. After the duration of B above, the developer postponed the payment date and increased the %age. 2 Likes |
Re: The Evils Of Interest Based Loans & Mortgages by MrBlack001: 8:50am On Dec 24, 2021 |
So far, you're not buying a liability but an asset. Then you're good to go |
Re: The Evils Of Interest Based Loans & Mortgages by Emuforlife1: 8:52am On Dec 24, 2021 |
Islamic JAIZ bank is the Best 6 Likes |
Re: The Evils Of Interest Based Loans & Mortgages by Busayo58(m): 8:52am On Dec 24, 2021 |
Hmmmm nawooo |
Re: The Evils Of Interest Based Loans & Mortgages by King44(m): 8:52am On Dec 24, 2021 |
I agree with this 2 Likes |
Re: The Evils Of Interest Based Loans & Mortgages by ThatFairGuy1: 8:53am On Dec 24, 2021 |
May Allah provide for us clean way to earning a living 7 Likes |
Re: The Evils Of Interest Based Loans & Mortgages by omoadeleye(m): 8:54am On Dec 24, 2021 |
Islamic Banking doesn't accept Riba. You can apply for sukkuk 5 Likes 1 Share |
Re: The Evils Of Interest Based Loans & Mortgages by Nadaken: 8:59am On Dec 24, 2021 |
I laugh If you go betting sites you go see same Islamic banks authorizing gambling companies to allow Muslims deposit and withdrawal gambling funds through them Shebi the gambling isn't Haram Shebi the return gotten isn't interest 1*bet below 14 Likes 3 Shares
|
Re: The Evils Of Interest Based Loans & Mortgages by Handsum64: 9:01am On Dec 24, 2021 |
God bless Islam 4 Likes |
Re: The Evils Of Interest Based Loans & Mortgages by money121(m): 9:03am On Dec 24, 2021 |
Ok |
Re: The Evils Of Interest Based Loans & Mortgages by maolaya: 9:11am On Dec 24, 2021 |
AntiChristian:Return on investment in Islam is not shared on a certain percentage of capital invested, rather based on agreed percentage on profit the business made. E.g the farmer you invested lets say 2M with, after making sales from produce will calculate all the profit lets say N500k on the business and will give you the investors a certain percentage you have both agreed on initially from the profit. Let's say 50%. That means he'll be giving you 250k. Not 50% 0f the 2M. JazakumuLlahu khayran 7 Likes 1 Share |
Re: The Evils Of Interest Based Loans & Mortgages by freeman67: 9:12am On Dec 24, 2021 |
What is the difference between interest, rent and profit? Why is interest classified as Ar- Ribaa and the others not? 1 Like |
Re: The Evils Of Interest Based Loans & Mortgages by Biodun556(m): 9:14am On Dec 24, 2021 |
May Allah forgive us 1 Like |
Re: The Evils Of Interest Based Loans & Mortgages by Arewa247(m): 9:15am On Dec 24, 2021 |
Its only people with knowledge and wisdom will know the wisdom behind this. 4 Likes |
Re: The Evils Of Interest Based Loans & Mortgages by Biodun556(m): 9:17am On Dec 24, 2021 |
freeman67: The basic difference is profit is where there is a commodity on at least on side, and interest is where there is money on both sides. So you can’t take money for money with extra. Similarly when two commodities are of similar nature and they are sold by weight or measure then when exchanging them, any extra will be interest. E.g. rice, wheat, dates, etc. If you have a good quality product and the other party has one of a lesser quality and you were to exchange, then you can’t give one kilo and take two kilos from them. |
Re: The Evils Of Interest Based Loans & Mortgages by Adeseyemogul: 9:20am On Dec 24, 2021 |
Emuforlife1:How can i open JAIZ BANK � 1 Like |
Re: The Evils Of Interest Based Loans & Mortgages by Nobody: 9:21am On Dec 24, 2021 |
Nadaken:You're a liar. 4 Likes 1 Share |
Re: The Evils Of Interest Based Loans & Mortgages by pumpingiron(m): 9:23am On Dec 24, 2021 |
[quote author=Amoto94 post=108711193]The Evils Of Interest Based Loans & Mortgages Question: Is it allowed for me to take out a loan (Mortgage) from a bank that deals with interest to buy a house? Benefit us may Allaah reward you with good. Answer: Even if you were in dire need of eating a piece of bread to save yourself from death still don't borrow anything from the bank whatsoever, let alone buying a house or a car. When one is in a adverse situation forced by circumstance (severe hunger) Allaah has made lawful for you al-Maitah (dead animals), and the flesh of swine, and that which has been killed by a violent blow or by a headlong fall; yet ar-Ribaa (interest) has not been allowed for you, interest is very dangerous, very dangerous. So don't deal with interest and be patient; since Allaah the Perfect and the Most High mentions: And whosoever fears Allaah and keeps his duty to Him, He will make a way for him to get out (from every difficulty). What a about buying stock 1 Like |
Re: The Evils Of Interest Based Loans & Mortgages by Nadaken: 9:23am On Dec 24, 2021 |
Tadeknkeepcalm:na my 1*bet account be dis Islamic bank TAJ authorize payment and withdrawal to gambling site 4 Likes 3 Shares
|
Re: The Evils Of Interest Based Loans & Mortgages by dmaze: 9:23am On Dec 24, 2021 |
. |
Re: The Evils Of Interest Based Loans & Mortgages by dmaze: 9:25am On Dec 24, 2021 |
Jazakumullah Khairan. May Almighty Allah SWT reward you and every sincere reader of this post abundantly, aameen. Amoto94: 3 Likes |
Re: The Evils Of Interest Based Loans & Mortgages by Praktikals(m): 9:25am On Dec 24, 2021 |
![]() |
Re: The Evils Of Interest Based Loans & Mortgages by EmmaLege: 9:33am On Dec 24, 2021 |
Hmmm ![]() |
Re: The Evils Of Interest Based Loans & Mortgages by Yahzeelv(m): 9:38am On Dec 24, 2021 |
maolaya: What of when the farmer loses all the investment due to a natural disaster, who will now inherit the loss(the capital invested)? The farmer or he that gave the farmer money? |
Re: The Evils Of Interest Based Loans & Mortgages by AHLULHADITH(m): 10:31am On Dec 24, 2021 |
JazakumuLLahu khairan |
Did Muhammed Curse Muslims? / Hajj 1997: The Great Fire In Minna / The Ruling On Saying Jumah Mubarak And Sending It via texts On Fridays
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 43 |