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Tag - interest

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My father passed away three years ago, and the financial responsibility of the household has fallen upon me and my brother. My family is asking me to take an interest-based loan to pay for my younger sister’s college tuition, even though I cannot afford it and I am still recovering financially. Is it permissible for them to ask me to take a loan with ribā? Is it fair for them to demand more than I can handle? Is it permissible to buy a house through ribā when renting is possible? And is it permissible for my brother to manage a gas station where alcohol is sold?

I invested $2,000 in a small business. The agreement was that I would receive 1% of all sales until I receive my original $2,000 plus an additional 50%, meaning a total of $3,000. Is this arrangement permissible in Islam, or is it effectively a workaround for interest (ribā)?

I am looking to open a bank account with global reach. The banks that suit my needs offer checking accounts that pay approximately 0.5% interest on deposited funds. Is it permissible to open such an account and then donate the interest earned each year to the poor or to charity?

Is it permissible to receive cash back from a credit card company?

Is working at a bank Islamically permissible?

Is it permissible to invest in Cryptocurrencies, specifically Bitcoin?

Is it permissible to purchase a house if the seller and the lender are the same entity?

Are gifts and cash incentives offered by banks to account holders Islamically permissible?

Should a long-term debt be returned on the due date for the amount previously borrowed or its current value today?

Is working at a bank Islamically permissible?

Are student loans Islamically permissible?

Is investing in the stock market permissible in Islam?

Is it permissible to transfer an interest-based debt to a non-interest based debt or to a 0% interest rate debt, so the interest can be reduced or eliminated? If permissible, can I do it for one of my family members using my card?

What can Interest/impermissible money be spent on? Can you give interest money to charity in Islam?

Is it permissible to invest in Cryptocurrencies, specifically Bitcoin?

What if the 401(k) account imposes restrictions and penalties if withdrawn prematurely?

Is investing in 401k permissible in Islam?

What is the best way to get rid of the interest money?

Can I give the interest money to relatives/friends of mine who are considered poor? And do I have to inform them?

Can I use the interest money to pay my student loan or my utility bills?

Should I take the interest money accumulated in my bank account, or should I leave it to the bank?

Is it allowed for me to use the interest money accumulated in my bank account?

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الَّذِينَ يُنفِقُونَ أَمْوَالَهُم بِاللَّيْلِ وَالنَّهَارِ سِرًّا وَعَلَانِيَةً فَلَهُمْ أَجْرُهُمْ عِندَ رَبِّهِمْ وَلَا خَوْفٌ عَلَيْهِمْ وَلَا هُمْ يَحْزَنُونَ

Those who spend their wealth in charity day and night, secretly and openly—their reward is with their Lord, and there will be no fear for them, nor will they grieve.”
– The Holy Quran 2:274

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