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The literal meaning of interest or Al-RIBA as it is used in the Arabic language means to excess or increase. In the Islamic terminology interest means effortless profit or that profit which comes free from compensation or that extra earning obtained that is free of exchange. Hazrat Shah Waliullah Dehlvi a great scholar and leader has given a very concise and precise definition of interest. He says, "Riba` is a loan with the condition that the borrower will return to the lender more than and better than the quantity borrowed." Bibliography:- http://www.inter-Islam.org/Prohibitions/intrst.htm
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Is interest money is correct in islam?
Interest money is haraam in Islam !
Is the interest is reliable in ISLAM?
intrest is not reliable in Islam it is fobidden
What is ribba?
riba means interest and is forbidden in islam.
Why services charges as an alternative of interest are neither the true spirit of Islam nor from economic point of view?
Why services charges as an alternative of interest are neither the true spirit of Islam nor from economic.
Is interest is halal or haram?
Charging interest is haram in Islam. We try our best not only to not charge interest, but to avoid paying interest. So, always try to find things 0% interest.
What has the author Ziaul Haque written?
Ziaul Haque has written: 'Islam & feudalism' -- subject(s): Economic aspects, Economic aspects of Islam, Economics, Interest, Interest (Islamic law), Islam, Profit, Religious aspects of Economics 'Landlord and peasant in early Islam' -- subject(s): Land tenure (Islamic law), Law and legislation, Sharecropping
Is traditional interest based banking haram from the Islamic viewpoint?
Yes, interest, or "ribba", is haraam. This is because one is making money without earning it.
In which religion is paying interest on a loan or credit card banned?
Islam. You have to call it something else.
Which investments are ethically approved by the Islam?
The investments that are ethically approved by the Islam are those that are free of interest, speculation, and gambling. Investments must be approved by an independent Shari'ah board.
Against religion Muslims borrow money with interest?
Yes, borrowing money with interest is forbidden in Islam. Even borrowing money is seen as something unfavourable.
Do Muslims use credit cards?
Yes, Muslims do use credit cards but pays the balance as soon as possible within the grace period to avoid interest, as interest is forbidden in Islam.
Does Islam forbid interest bearing loans?
No, this is nothing but a kind of usury which is strictly prohibited in Islam. changing the names does not change the fact. so, let the name be interest or whatever it's still usury & this is forbidden in Islam. Usury has many bad effects. for instance, it causes oppression, it increases the wealth of the rich & the poverty of the poor which leads to a damage in the economical system of the community due to creating a huge gap between poor & rich, it causes conflicts & hatred between people & it's enough that God, the Creator forbids it.Only one example:(Allah will deprive usury of all blessing, but will give increase for deeds of charity: For He loveth not creatures ungrateful and wicked).Holy Quran,(2:276).
