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Marriage
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Calling non-Muslims to Islam
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Jurisprudence of Acts of Worship
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Contemporary Transactions
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    • Forbidden Transactions
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    • Ribaa (interest or usury) & Money Exchange
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Ramadaan Q&A
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  1. Very important
  2. Contemporary Transactions
  3. Ribaa (interest or usury) & Money Exchange

Ribaa (interest or usury) & Money Exchange

  • Ruling on taking part and working in savings accounts

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  • The bank is asking him to open two accounts, one for saving, on the grounds that it will protect his money

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  • Buying a flat by instalments when there is a clause in the contract that stipulates a penalty in the event of late payment

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  • Should he take a riba-based loan if he does not intend to pay the interest?

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  • He took a loan with riba to buy a house under pressure from his father

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  • He took a loan with interest and is paying it off with the interest from investment certificates at the bank

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  • Selling worked gold for ingots with a payment for the work

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  • Is Currency Trading Halal?

    Trading in currencies is halal so long as the exchange takes place in the same sitting as the contract is made. If the deal is in the same type of currency, this is not permissible because it is a type of riba.
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  • Savings in the Post Office – how should he pay zakaah?

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  • Should he take a riba-based loan in order to buy a house?

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