According TO ISLAM, IF ONE GET LOAN ON INTEREST / MARKUP FROM A BANK OR PERSON THAN?

START A BUSINESS AND GIVE SOME AMOUNT FOR INTEREST THAN IS IT RIGHT FOR MUSLIM I MEAN IS IT HALAL OTHER CASE IF I GOT MONEY TO RETURN BUT PAY SOME AMOUNT FOR USING MONEY I MEAN LEASING A CAR OR HAVING A CREDIT CARD AND PAYING ADDITIONAL MONEY ON LOAN THAN WHAT ISLAM SAYS UR MORE ANSWERS WILL SOLVE MY PROBLEM

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  • 1 decade ago
    Favorite Answer

    To answer this you have to know the meaning of "RIBBA". Ribba means interest paid of a loan. Therefore if you get a loan from a bank or anywhere else where you have to pay interest for the money lent this makes it a RIBBA and so it is not HALAL or permitted.

  • stacey
    Lv 5
    1 decade ago

    There are commecial banks which offer Islamic Banking accounts. I don't know how they differ from conventional accounts. But I'm aware the interest is not halal. However, if you have a loan arrangement for car/house, you also have entered into a contract with the lender to pay down the loan, with interest. You are bound, as a muslim, to honour that contract.

    This is what I've read. But this topic is confusing to me too. It's almost like it's a compromise of your values. You wouldn't pay back a loan with someone's life, as killing someone is a grave sin. So why would you pay back a loan that involves interest that is not halal? Maybe because you're not the one profitting from the interest? I don't know.

  • 1 decade ago

    Do you mean interest. For example you put your money in a bank and earn additional %5 or so every perodical time.

    Interest ( giving and taking ) is forbidden in Islam, since it is a burden on the person.

  • R G
    Lv 5
    1 decade ago

    Yes, they are not suppose to do that. They have special banks that adhere to these laws. I don't see anything wrong in that - after all that's there belief. At the same time there are Muslims who do bank with other commercial banks - that's their wish - nothing wrong with that either - it's the individuals wish.

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  • 1 decade ago

    the intrest is forebiden [ i mean rent a money] but rent an abject is not forebeden and the difrece is clear , becaouse an abjects helpful dirictly but the mony is not helpful dirctly but it just toll used to adjust the price of goods

  • Anonymous
    1 decade ago

    ANSWER THIS QUESTION IT IS HARD I NOT SURE IF IT IS UNDERSTANDING RIGHT WHEN I READ THE CASE ABOUT YOUR PROBLEM BANK LEASING MONEY TO MUSLIM AM SORRY ADDITIONAL INFORMATION NOT COMING.

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