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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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  1. Very important
  2. Contemporary Transactions
  3. Ribaa (interest or usury) & Money Exchange

Ribaa (interest or usury) & Money Exchange

  • Using credit cards in cases of necessity

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  • It is not permissible to impose a penalty for delay in praying off a debt

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  • Bank’s interest is called riba (usury) in sharee’ah

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  • Should he go for an interest-based mortgage if that is cheaper than renting?

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  • Transferring money from one currency to another

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  • It is not permissible for the vendor to charge extra to the one who makes late payments

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  • Ruling on taking an interest-based loan for an urgent need

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  • This is the essence of ribaa

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  • He wants to bring in a person to take his place in a ribaa-based investment bank account to save himself

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  • Lender referring a third party to debtor for extra money

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