I was 19 years old and my uncle gave me money which he said I would need to return at the rate of gold. So basically if for example he gave me 100 PKR - he would consider it as an equivalent amount of gold on the day he would loan me the money. The loan for studies and was given over a period of time. In the monetary terms, I have paid him twice the amount and the loan is still outstanding. Someone said that in Islam it would be considered as an interest (riba) in Islam!

I have took a loan. I am going to pay it back for next ten years. Every month I pay 600 dollars interest in this loan installment. After taking loan, I got 50 thousand dollars from somewhere. I asked bank to take it. They said it is not possible because we want to earn interest. Can I put my money in the same bank and earn interest on it which is around 100 dollars and then pay it back to same bank in the loan installment which has 600 dollars interest in it?

my name is Talha, and I work for an affiliate network.My role is affiliate manager, and I find affiliates to promote our offers. We have offers in home improvement, solar, and loans. When the affiliate generates leads, I also get commission from it. Is it halal for me to get commission from loan leads, as my company is not providing the loan directly to customers; they just send leads to buyers, and then they provide loans? Is my earning halal?

> Narrated `Aisha: Allah's Messenger (ﷺ) died while his (iron) armor was > mortgaged to a Jew for thirty Sas of barley. https://sunnah.com/bukhari:2916 When Prophet (s.a) died he was ruler of vast kingdom and he had lot of muslims to help him. Any reason he had his armor mortgaged with a Jew ?

Could someone explain the reason for usury being forbidden in Islam? Some background: I have some money, which I could take advantage of right now. Giving up this money, in the form of a loan would surely mean an opportunity cost for me, as time might not be entirely homogeneous for all. Moreover, I could simply place the money (safely) in my pocket. In this case, I am accepting a certain risk of default on part of the lender, which at most might eliminate the money, and at least cause some inconveniences to recover the money. If these basic costs are not covered by the loan, no incentive remains for lending money, which at large would slowdown the economy and disable wealth shift from the wealthier middle-age population to the more-in-need youth.

I am not having money to perform my ummrah I have taken some money from my elder sister as a loan and I know that i could return her later. So is this allowed in Islam or should we have our own money?

I've been working really hard in high school to get accepted to a good major in university. I'm going to start studying this summer. I need an apartment and food to live and I have no income what's so ever. The only income I can get is if I take a student loan. But the thing is, there's a 0,05 interest rate which is little but its still RIBA. If I don't take it I have to live on the streets while studying for 3 years. The thing is, I can get a job on the weekends but it will not give me enough for residence and other necessities. You may think that I can work at night on normal days but if I do that I will literally get no sleep (maybe a couple hours if I end school and studying early). I don't know what to do and I'm so done with life. Is this really a necessity so that I'm exempted and forgiven for this sin?

Assalamualaikum warahmathullahi wabarakathuhu readers. May Allah reward you with jannathul firdaus - aameen.. May Allah give you peace and protect you from sins - ameen. My question is regarding whether I can take a Interest based Bank loan to pay my debts. We have a own house which we no longer live in. Initially in my childhood my parents bought this house with bank loan. And after several years of paying more interest, with the help of someone they decided to give the house for lease and take back the house documents from bank from that lease money as they came to know that the bank was cheating them. It's been around 13 years as of today. Still we are struggling to finish of this debt. We are shifting lease customers like once the current agreement is over and the customer wants to leave the house we bring in a new customer and send out the current one with that money. This is what is happening for several years. We tried our best to do some savings in the meanwhile duration. But that was not successful. My parents also dont make that much money. I also make a fair amount of money. Not much. Now my problem is.. my parents are getting older. My mom also gets frustrated often because of that old house often bothering us. Also personally we have had some problems in that old house. Now the current guy who lives in our house for lease wants his money back in 2 months to vacate. We got no money and there is no one whom we know of who could help us. The amount is quite big. 4 and half lakhs INR. So, what I planned is I could take a loan and pay the debt off and ready the house and sell it and repay the loan and live happily with my parents. I know loan is haraam. But I am in a dilemma for about 3 to 4 years whether I should go with the Loan or not. We tried brokers to sell that house. But no result. Because the house is a bad condition, we need to make it ready to either sell it or lease it. But I heard recently that the leasing is also not allowed in islam.. pls advice.. So we tried selling, leasing.. but no result. Currently we live in a rented house far away from the old house. We were facing many problems in that old house. Like neighbours troubling. Water problem. Maintenance problem. The house builder is a strange man and he never cares about the house. We were very shy to even invite guests to home due to torn walls, water leakage from top. Cockroaches all the kitchen. Heat. Power cuts. Oh common.. despite that we were living happily.. by the grace of Allah. Seeking some good advice...

What's the difference between commerce and RIBA in Islam? Let's take the example of looking for a loan to buy a house. Traditional banks are using Riba because they lend you money, you buy your house, you pay the bank monthly payment with totality exceed the total borrowed. Now a so-called Islamic bank called me and they pretend that they are doing commerce and don't use Riba, but I don't see any. **The principle is this:** **You need to find first a house by yourself**, **then the bank buys it, then sell it to you, then you pay them back** in an exact way like with Riba banks. For me it's **exactly the same thing, they borrow you money with interest**, the bank pretending to do commerce is **risking absolutely nothing**, and in case you can't pay back the house, the bank will take the house !!! Also with this so-called Islamic bank, they charge you 20% of the price of the house, whereas traditional banks charge 3% more (in Europe). which means the bank is making fortunes and lose nothing at all. For me, **the definition of commerce entails risk**, which means, the Islamic bank decides first to buy for example 100 houses with its capital. then looking for a customer, **with the risk of having a house not sold**. any insight, please?

Students from economically backward communities who opt for higher studies generally depend on educational loans, which are offered with interest, either by banks, developmental organisations, or by government, if they don't get a scholarship high enough to meet their needs. I support the idea of doing a small job first, earn the required amount and then going further in studies. But, this would take more than a single year to earn even a single year's fee. Not all students are bold enough to ask for zakaat, and even if they are bold enough, they may not get the suitable sources. In such scenarios where a student has no financial sources but the interest-based education loan, should a student abandon his studies?

My husband has a loan and I am also involved in it. He do repay the loan as installments. I own jewelry and have no further earnings right now. If my husband help me with money to give my zakath can I give that back to my husband as zakath?

Muslim students tend to take a student finance loan in order to go through university without financial strain, but I've recently discovered there is interest involved. According to my friend, some Imams say it is okay for education's sake. I have just read this [fatwa on Islam21C](https://www.islam21c.com/islamic-law/on-sh-haithams-student-loans-fatwa/) , which seems sound. Is there anything wrong with the fatwa? Please respond to with your reservations.

I am running a business and I would like to take loan from a bank to buy larger property for business expansion. The property reamins with bank as collateral until debt is paid off. Bank asks for 10% deposit. Bank asks for 10% interest. Is this permissible in Islam? Are there any other options on how I could expand business operations?

I have a series of questions about Islamic loans. My first question is this: If person 1 loans 100k to person 2 and creates a contract which states that the agreed payback date is 25 years from now. How much does person 2 pay back person 1? We all know that the value of money reduces due to inflation. For example, 35 years ago, my dad bought a house for 5k, now to buy a similar house you have to pay 200k. So my question is, should inflation be taken into account according to Islam? What confuses me is that if person 1 is only entitled to 100k after the 25 years, he will in effect be at a huge disadvantage, i.e. in real terms, he will not get back what he loaned person 2. At the same time, if person 2 gives back person 1 more than 100k, that is potentially interest which is haraam. So just to clarify, how do long-term halaal loans work in Islam when it comes to inflation?

I recently bought a house and got Shariah loan (Mortgage). The only difference is that in the Shariah loan they don't use the word "interest". They say I am paying them "rent" at a fixed percentage which is same as today's interest rate. Now how do I calculate Zakat on my wealth if I am still in debt? Because if I do so, my net-worth will be negative.

I’ve heard student loans deemed as Ribaa. However, for a UK university student loan, the conditions are documented: > How much you repay > > You pay back 9% of your income over the minimum amount of: > > - £17,750 for Plan 1 - this amount changes on 6 April every year > - £21,000 for Plan 2 > > Interest starts being added to your loan from when you get your first payment. How much you pay depends on which plan you’re on. > Repaying your student loan Is this classed as Ribaa? I think it is. And is it not classed as a "necessity" if I have no other means to pay for education, or if it's used to provide for my family?

Instead of sending unwanted income from riba towards charity, would it be halal to use the earned riba to pay the interest-only portion of a loan such as a mortgage or student loan. For example, if you have a mortgage where you're paying $200/month in interest, but you're earning $20 from your bank in the form of interest, would it be okay to pay the $20 towards the $200 interest payment? Sort of like "fighting fire with fire"

I have paid a deposit to buy a home and an agreement of sales and purchase has been signed. But the full amount is to be paid next month and I'm calculating my zakat this month. **Question:** Can a future debt that is already contracted to be in effect as of next month be deducted from the zakat money that is due this months?

Assalaamu alaikum. I have student loans that are accruing a lot of interest. I have an investment account given to me by my employer, but I have not made any personal contributions to it because some of the investments in that account earn interest. However, if I start putting my own money into that investment account, and allow it to build up (through a combination of dividends, ROI, and interest), could I use that money (which would include interest) to pay down my student loans (and the interest) faster?

My calculations suggest that I might be able to afford for my Hajj next year Insha'Allah. My mother has not performed Hajj yet therefore I do not want to go to Hajj without her. However, she cannot afford for her Hajj herself and I might not be able to afford two Hajj expenses by next year. Can I take loan for my mothers Hajj in this situation? If yes, is this considered bad?