I can buy a house with interest (Riba) in this world but tradeoff a house in Jannah after death. This life in world is for a short time but life after death is for eternity. I will stay in rent. I don't wants to wage war against Allah SWT and his Prophet Muhammad PBUH.
Another thing is what if the item is imported and currency value increases than the price increases gradually , similarly the property prices also increase by time because the contracts can be more than 20 year's
I am an American Muslim. And we have several Islamic Financial Companies based on Shariah here in USA. Guidance Residential, Lariba and Devon to mention few. Hope this helps someone.
@fahim akthar Ullah great.. by this logic .. A person doing Fixed Deposit and contract is there that 5% return will be given after 1 year will be considered halaal.
@@omarfarique6304 he's saying that this particular scholar is well versed and a genius in his craft. I think he thought that you could not find the answer to your question in the video.
ALLAH HU AKBAR ALHAMDULILLAHI RABIL ALAMEEN there is none worthy of worship except ALLAH SWT and whatever is in the heavens and on the Earth belongs to ALLAH SWT
As Salaamu 3laykum, so trade is when you are purchasing something from someplace and then increase on top of that so you can make profit off of the item. That is okay. However, the companies, what they do is that they buy things on a loan and sell it to you however, it was purchased through a loan company , bank, etc. and the return that goes back (ie payments) will have interest with it. That is my haraam in my understanding.
Assalamu Alaikum, I think the example of camel was not at all buying and selling, I think it shows the agreement of leasing. Because the first camel was to be returned in the replacement of original and second one was be given as rent. As this doesn't happen in trading. Allah knows the best.
Brother this is like rent. If you are renting a house for a year. At the end of the year you will pay an amount of using it( let that amount be equal to the total cost of house) and after 12 months you will also give the house back to its owner along with the rent.
@@adaam.l1839 brother when someone gives you 100£ and its rent is also 100£. Then after you use it you have to earn 200£ to pay back the owner. But if someone if giving you camel(worth £100) and its rent is also a camel (worth £100)than after you use the camel for an amount of time the camel will not lose its existence it will be of (£100) then you just have to earn the money of rent only as you have one camel on you.
Dr Zakir Naik, I live in the UK and car insurance is a legal obligation. I understand having a car is not but I need to drive it for business and family matters. My question is can you take out the car insurance on a monthly package which is roughly 40 pounds more than the annual amount but with annual you have to pay in lump sum and it’s not fully affordable as it puts me in financial distress. Furthermore to being a legal obligation, it’s trade but only for the insurance company as they are selling the service but I am taking with the intention of not claiming on the insurance even if a accident takes place allah forbid. Can you please clarify so confused! You mentioned trade and the extra price for monthly being trade but is that not interest? The price is fixed for the monthly by the way. Thanks
What if somebody is not sure how long it will take for him to payback the installments and he asks to write 2 condition in contract that i will 110 after 6 months or 120 after 12 months.?
Assalamualaikum, My straight forward question - They say on emi it will be suppose 8% of interest for the car I purchase. What it should be considered?
But most of the NBFCs and Banks both are charging DPI i.e Delay Payment Interest that's why I believe Muslim should avoid these type of trades to maintain his or her Riba free Financial planning. May Allah guide us into the straight path.
dear brothers. don't ask Dr Zakir Naik sharia questions. he is brilliant in explaining quran to non-Muslims and let him continue on that. he himself has said many times... I am not an aalim (an Islamic scholar)
It is totally confusion now..I have two doubt.. 1. Usually there will be a third party finance provider like bank they will give money on the behalf of customer..Is it allowed?? 2. Can we consider this deal as " bank is selling this car to customer at higher rate, and customer paying it as installment"...???
Brother theres 1 rule u can fit on anything interest is applied when its money against money. For example i give u 100 usd and in return i give u 120 usd. When there's a commodity or goods involved its no longer interest. If bank is paying for car then the car becomes commodity . But if bank directly give money for car lets say 50,000usd and say pay us in instalments nd it becomes 60,000 usd this becomes interest. But if bank buys u car and asks for instalments nd they r charging extra its no longer riba. Its complicated also u hv to better select Islamic Banking becoz other banks dealing itself in riba .
But 1 thing to keep in mind . In contract it should say dat the extra they r charging is for services or rent . They shouldn't say its intrest becoz if they say its intrest then their intention is riba . Also they should not add penalty dat if u pay late and delay u hv to pay extra
@@abdullahmolabaksh6501 the problem is how do you what bank is exactly doing .mostly bank sell interest and they say they are investing on customer behalf with a promise that there will never be any loss etc
@@abdullahmolabaksh6501 in the time of prophet muhammad (s), what was the currency and what was it made of. if this is the case than there is no interest in barter trading. brother keep you self away from ribah it is the biggest sin. and increased money of installment is ribah.
So according to this taking a student loan but paying later with extra with a fixed amount its permitted?? Can someone explain. It's including if you go for convention bank morgage. If the extra payment is fixed is it permitted??
Actually if you delayed the payment then according to contract also you are only liable to pay that amount which was in the contract else go to judge file a case and demand your money just don’t ask any extra money from him and if he do not pay his instalments one should not sit and think that I’ll he getting more money from him that’s the catch.. If you have sabr give him that if not we have courts and laws which look after agreements
I am wondering if it is possible to for Banks or government to increase tax rates proportionately for people availing loans. In this way the loan will be linked to percentage of profits/earnings instead of fixed interest which is Haram. And people availing loans, will have to additionally get their books audited by government or Banks.
Sir hope u may answer please .I were having cc limit from bank .but from three Yeats I am paying the interest .but from last 4years I am trying very hard to pay the all amount but failed still I am trying trying and trying .am I the same category in frint of allaha as one is collecting the interest.
I respect the views on the topic. However, now a days people are buying indiscriminately things they dont need but just to show off, on installments and then they get in financial troubles because they are not conscious of the implications if they break the contract. These assets are forcibly taken by the seller. This is against islamic rulings as far as i am aware
I really don't know what the difference is as a mortgage is paid in instalments over its period that you have contracted in. Also if you purchase something say a car and you put down a deposit and the outstanding amount you agree to pay over 5 years in equal instalments but when you add up the 5 yearly instalment, it is higher than the outstanding amount. This means that you have paid some level of interest. However you twist the maths, when you agrtto buy something that you cannot fully pay at the time of purchase, you will end up paying more. That extra amount is interest no matter how you juggle the words.
Riba is on the things that finishes or loses its existence when you use it. Car doesn't loses its existence when you use it. The case you mentioned above there is not interest in either case.but usually the prize of car will be increased if you pay it in 5 years. For example When you buy a crate of bottle( 6 bottles) from a factory you will get it in low price. But if you buy 6 bottles one by one from shopkeeper it will cost you more. The extra cost is the profit of shopkeeper who is spending time to pay it.
In payment by installment , interest is included and 'hidden' inside the installment. . The concept of no riba /interest fails. The business person will always include the intereset Riba.
It is not always the case. Depends what you buy. I can buy a smartphone with cash for around 1000 euro or I can pay it 100 Euro per month over 10 months. Where is hidden interset in this case? But if you to buy a car or house, then thats different case.
I love him , and I have massive respect for Dr Zakir Naik but I’m not agree with him this time, If it’s permissible so I can purchase a home from bank interest? In case if they won’t increase the percentage of interest ?
So if i buy a car on finance it’s allowed ? Like they say if you buy it now then it’s this much but if you take it out on finance, you will be paying 2k more by end of the fixed terms ?
Yes, as long as the monthly payments are fixed, and the deposit (or final payment, in case of PCP) is already pre-defined, it's halal..... The only case it is not allowed is when the monthly payments (or any final payment) increases due to "time delays" which was not previously known/fixed. So when buying a car on instalments, make sure the interest rate is fixed and you already know how much you will end up paying in total before you start paying. Then it is halal.
Okay so, if you buy a car and it is fixed at a time for €60.000 but paying it in installments of 5 years it will make it €65.000 at the end. That is permitted because it is trading. And so, is this the same as when you buy a house? Eg.: house is half a million at the time when fixed the installment will be over 30 years and end amount is €530.000. This is trading as well? Not riba? Because you said it’s only usury when you are late with paying, eg. You paid a fee months late the end amount would be eg €600.000. Is this riba and haram then?
AS you said,if the party who is giving a credit not made any extra charges if you delayed the payment then it is not haram. while in today's world everything is mentioned in contract but if we delay the payment. the bank charges some extra amount as bouncing charges.,... so in that case? installment or finance is haram ?
Please explain me that if that person who toked installment and don't pay other remaining money that person who sold him product what is he should do that situation???
Don't need to as he breached the contract, not you. But it's better to ask him first maybe he wants to give the rest payment but he doesn't have resources yet
If there is delay in the payment, there should not be increase in the payment, by this law, most people will give the instalment at time because.they know if there is delay no fine is there. So, no bank allow this thing I think, so if there is delay in payment and some fine is there, then in this case will it be allow or not?
Isn't it fine but not interest in Thai case. Interest will be if fine ancreases monthly regardless of payment date. What you pay is delay processing fee. How is that interset.
Now I have a doubt.. if 2 camels can be paid for 1 camel and so, more amount can be paid for less money .. isn't it like interest? Like in case of Riba, we give $100 let's say and they pay $120 after few months. And isn't it similar here? We are getting an item worth of $100 and paying $120 for it later?? And if you say it's paid in instalments, so it's fine .. then many people do money lending process in form of instalments only? For example ..they give $90 and get $100 paid back ..which will be like $1 per a day ..so I expect some explanation from someone. Thank you.
Madam, Once prophet Called by Jewish women for home. Prophet Muhammad accepted the invitation for the home. Prophet went ate in the Jewish women house. In that time, Jiwesh people is deal in Riba. There is no harm in praying in the Masjid. YOu can't make document or proof for 100% masjid built on loan/riba based. Please go with postively. Shaitan always in our back, to make excuse to miss the Salaah. Thank You
My self Arif , m from Kolkata, India. I have a small business. I am a tyre dealer. I have dealership agreement with many tyre companies. I have a question that is it permissible selling tyre on EMI to the customers who couldn't afford to buy tyres in cash. Even I do not get any extra amount more than fixed price. I just connect those customers to finance company like Bajaj finance. Which I hve worked with. But do not get any extra amount from this company. Further the company put some extra amount on my product price and make a deal with the customer. Is it permissible?? Please help me
What if I am taking the amount from bajaj and it says 0% interest and they charge some processing fee in starting. Paying processing fee is halal or not??
If I can buy 1 camel now without money, and later pay 2 camels, then I can take 1 lac from a person and write a contract according to which I will pay that person 2 lac after a year. Is it permitted???
What al quran says about Interest/Riba Surprising Lecture in English and Urdu English: Part 1 ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-rICMuYHpZ1A.html Part 2 ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-3tYSPcadoeg.html Part 3 ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-yjbrsUzoiVk.html Part 4 ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-1AeESB159K0.html Urdu: Part 1 ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-yGULZW3KBeA.html Part 2 ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-QU44_ZrxcvM.html Part 3 ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-DK55q6WLvRI.html Part 4 ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-70pTi45q790.html
That's a good question. You should write to their platform or email them. But most probably, wherever the word interest is, it's not allowed by default. But I'm no scholar, so better to write to them.
@@IchigoKurosaki-uj4lz I think Dr Zakir has already answered in another video "where someone asked to buy house through mortgage" You should also RU-vid that.
Assalamu alaikum bank se loan lekar karo bar shuru kar sakte Islam mein han pareshani pareshani iske liye ek bar loan lekar vah shuru karna chahte hain
bcoz in money you can't exchange money but in things you can do..its like if you get 1 tonnes wheat from some1 nd in return you give rice or similar to that things,so you can't stock the things and the price wil remain stable in case of inflation of something