The answer to the question WHY Riba haram is, is really simple. Allah swt made this point so clear. He said "Allah swt has allowed business but forbidden Riba" khallas
Interest and Usury is different things tho. And the monetary system is also quite different now from it was say till 1960s. Till then money was linked to gold which would keep its value regardless of inflation and everything and you can't print money if you don't have any extra gold to support it. With central bank taking control of printing money, that's no longer the case. There was hardly any inflation cost in gold linked money but there is an inherent inflation cost already in the new monetary system. It would be effective interest if you lend you 1 ounce of gold and ask you 1.1 ounce of gold one year later. However if the gold price.
Hi how are you I hope you are in a good condition of health and happy life am thankful for meeting you my real name is alkali Baldeh from the Gambia im West Africa and i hope we can chare more about each others culture, country, tribes and way of life.❤
I have already bought a house but I have been advised to watch one of the Muftis and he was allowing it as long as you live in a land who you have no control over the laws and you don’t want to lose more money in paying rent. Anyways his speech was like you are allowed since you are not buying it for investment . Now my situation is getting more complicated since I am willing to go overseas and live elsewhere temporarily and the only way to be able to pay the mortgage is by renting my place, is it a bigger sin? Am I allowed to do so? Or I am obligated to sell it?
Is making profit out of raised value of cryptocurrency and stocks considered riba? Does the interest in this case make the poor even more poor? In this case you're not dealing with people directly and you do not loan them money, but do they suffer as the value of your cryptocurrency and stocks rise?
I'm just a layman and happy to be corrected but if we only spot buy our assets it should be okay? Does not involve any debt or leverage and is just like a normal investment. But I'm no one so please do your own research.
From what I know, horse trading in stocks aren't allowed. That is, stock tradings with long term investment plans are fine, but you can't do short term investments as you're relying on betting. Allah knows better
Viewing crypto as means of exchange i.e. similar to fiat money, it is not tied with commodity hence likely not syariah compliant. Stocks is tied to company i.e. real business. Hence, buying stocks in companies that are syariah compliant, not using loan, and for long term investment, should be ok. Wallahualam..
Hi how are you I hope you are in a good condition of health and happy life am thankful for meeting you my real name is alkali Baldeh from the Gambia im West Africa and i hope we can chare more about each others culture, country, tribes and way of life.
