Is investing in 401k permissible in Islam?
The 401k structure itself is not problematic, rather the underlying investments are what determine permissibility from a religious perspective. You might consider checking with your company if they offer a […]
What is the best way to get rid of the interest money?
One should immediately dispose of it by giving it to a public charity cause, without the intention of receiving a reward for it.It is best to give it to a […]
Can I give the interest money to relatives/friends of mine who are considered poor? And do I have to inform them?
Yes, if the relative/friend is poor or needy, you may give him/her the interest money.No, you do not need to inform them of the source of the money and you […]
Can I use the interest money to pay my student loan or my utility bills?
It is not permissible to pay off your student loan or utility bills with interest money. You cannot use your interest money for any of your personal expenses or spend […]
Should I take the interest money accumulated in my bank account, or should I leave it to the bank?
You should not leave it to the bank, but rather take it and spend it on any public charity project, without the intention of receiving a reward for it. However, […]
Is it allowed for me to use the interest money accumulated in my bank account?
It is not permissible to use the interest money accumulated in your bank account, as this act is considered a major sin. Allah says in Quran ( what could be […]
