IslamiCity Forum - Islamic Discussion Forum: loan

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winjoy

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Joined: 26 June 2006
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Topic: loan
Posted: 27 June 2006 at 8:38pm

is it ok for a Muslim to loan from bank to buy an apartment or a car ?

always searching

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DigitalStorm82

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Posted: 29 June 2006 at 9:39pm

Asalamu Alaikum Bro/Sis,

It is only okay to borrow money IF and only IF there is no interest involved.

Interest is so bad that it is equivalent of having sex with your mother 70 times.. GOD FORBID... May Allah save the muslims that are forced to take loans and have no choice.

If you can rent an appartment that would be better for you. As far as a car, try to find a muslim brother or a muslim dealer who is selling the cars... and you can buy from him without interest inshallah.

May Allah keep you on the right path, Inshallah.

W'salaamz,
Hamid

Ma'Salama,
Hamid

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winjoy

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Posted: 30 June 2006 at 3:03am

i'm shocked abt. your answer...that means all bankers are committing serious offence.

what if the bank pays me the interest because of my saving ?

always searching

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DigitalStorm82

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Posted: 01 July 2006 at 11:38pm

Indeed... these are times of trials and tribulation. Although, there are some Islamic Banks that offer loans without interest, but of course, they are harder to find.

You need to tell your bank to keep the interest money your savings account is earning.

It is haraam money... you must try your best not to take or give anything in interest.

Ma'Salama,
Hamid

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Suleyman

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Location: Turkey
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Posted: 02 July 2006 at 2:36am

Originally posted by winjoy

is it ok for a Muslim to loan from bank to buy an apartment or a car ?

As Salamu Alaykum,you can only use murabaha for buying a home through it's rules,the bank will buy the house for you then pays it's value to the buyer of the house and takes the property on it's own(the bank),then will give you a murabaha project including payment days,the project must include a cash payment(min/25%) being paid to the seller of the house without the bank by your side as the buyer of the house ..take care that Islamic banks only pays the money to the buyer of the house not to the one who uses murabaha,at the end of the payment period the bank gives the property to you...this is Islamic banking style...the credit depends on real trade not on money and interest...as an practicable examples for you,interest means the difference(quantity,moneyu,benefits..exct.) received by the exchange of two same thing...

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amah
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Joined: 18 March 2006
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Posts: 1334

Posted: 02 July 2006 at 4:47am

Assalaamualaikum Winjoy:

Here is what Allah has said regarding RIBA (usury):

Those who eat riba (usury) will not stand (on the Day of Resurrection) except like the standing of a person beaten by Shaitan (Satan) leading him to insanity. That is because they say: "Trading is only like riba (usury)," whereas Allah has permitted trading and forbidden riba (usury). So whosoever receives an admonition from his Lord and stops eating riba (usury) shall not be punished for the past; his case is for Allah (to judge); but whoever returns (to riba (usury)), such are the dwellers of the Fire - they will abide therein.
( سورة البقرة , Al-Baqara, Chapter #2, Verse #275)

Allah will destroy riba (usury) and will give increase for Sadaqat (deeds of charity, alms, etc.) And Allah likes not the disbelievers, sinners.
( سورة البقرة , Al-Baqara, Chapter #2, Verse #276)

O you who believe! Be afraid of Allah and give up what remains (due to you) from riba (usury) (from now onward), if you are (really) believers.
( سورة البقرة , Al-Baqara, Chapter #2, Verse #278)

O you who believe! Eat not riba (usury) doubled and multiplied, but fear Allah that you may be successful.
( سورة آل عمران , Aal-e-Imran, Chapter #3, Verse #130)

Here is what the Prophet (saw) said regarding RIBA:

From Sahih Bukhari:

Narrated Samura bin Jundab: The Prophet said, "This night I dreamt that two men came and took me to a Holy land whence we proceeded on till we reached a river of blood, where a man was standing, and on its bank was standing another man with stones in his hands. The man in the middle of the river tried to come out, but the other threw a stone in his mouth and forced him to go back to his original place. So, whenever he tried to come out, the other man would throw a stone in his mouth and force him to go back to his former place. I asked, 'Who is this?' I was told, 'The person in the river was a riba-eater." (Book #34, Hadith #298)

Try to stay away from interest as much as possible. Loan is ok as long as there is no interest involved, I cannot locate the hadith where it says regarding interest that taking, giving, witnessing ....is haraam. Can someone provide that hadith for me?

Look for halal means, insha allah you will find some way. May Allah bless you.

Wassalaam.

Allah is Sufficient as a Walee (Protector) and Allah is Sufficient as a Naseer (Helper).
(Surah An-Nisa, Chapter #4, Verse #45)

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herjihad

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Joined: 26 January 2005
Location: United States
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Posts: 2473

Posted: 02 July 2006 at 6:31am

Originally posted by DigitalStorm82

Asalamu Alaikum Bro/Sis,

It is only okay to borrow money IF and only IF there is no interest involved.

Interest is so bad that it is equivalent of having sex with your mother 70 times.. GOD FORBID... May Allah save the muslims that are forced to take loans and have no choice.

If you can rent an appartment that would be better for you. As far as a car, try to find a muslim brother or a muslim dealer who is selling the cars... and you can buy from him without interest inshallah.

May Allah keep you on the right path, Inshallah.

W'salaamz,
Hamid

Bismillah,

This is really sick. There is no such hadith, and I don't believe our beloved prophet said such a twisted thing.

Peace

Al-Hamdulillah (From a Married Muslimah) La Howla Wa La Quwata Illa BiLLah - There is no Effort or Power except with Allah's Will.

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herjihad

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Joined: 26 January 2005
Location: United States
Online Status: Offline
Posts: 2473

Posted: 02 July 2006 at 6:32am

Originally posted by winjoy

is it ok for a Muslim to loan from bank to buy an apartment or a car ?

Ask the Muslim people in your community who own things how they got their original money to buy their property, just for curiosity's sake.

Peace

Al-Hamdulillah (From a Married Muslimah) La Howla Wa La Quwata Illa BiLLah - There is no Effort or Power except with Allah's Will.

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IslamiCity Forum - Islamic Discussion Forum : Religion - Islam : Islam for non-Muslims

Author	Message
winjoy Newbie Joined: 26 June 2006 Location: Hong Kong Online Status: Offline Posts: 20	Topic: loan Posted: 27 June 2006 at 8:38pm
	is it ok for a Muslim to loan from bank to buy an apartment or a car ?
	always searching
	IP Logged

DigitalStorm82 Groupie Joined: 17 April 2006 Location: United States Online Status: Offline Posts: 62	Posted: 29 June 2006 at 9:39pm
	Asalamu Alaikum Bro/Sis, It is only okay to borrow money IF and only IF there is no interest involved. Interest is so bad that it is equivalent of having sex with your mother 70 times.. GOD FORBID... May Allah save the muslims that are forced to take loans and have no choice. If you can rent an appartment that would be better for you. As far as a car, try to find a muslim brother or a muslim dealer who is selling the cars... and you can buy from him without interest inshallah. May Allah keep you on the right path, Inshallah. W'salaamz, Hamid
	Ma'Salama, Hamid
	IP Logged

winjoy Newbie Joined: 26 June 2006 Location: Hong Kong Online Status: Offline Posts: 20	Posted: 30 June 2006 at 3:03am
	i'm shocked abt. your answer...that means all bankers are committing serious offence. what if the bank pays me the interest because of my saving ?
	always searching
	IP Logged

DigitalStorm82 Groupie Joined: 17 April 2006 Location: United States Online Status: Offline Posts: 62	Posted: 01 July 2006 at 11:38pm
	Indeed... these are times of trials and tribulation. Although, there are some Islamic Banks that offer loans without interest, but of course, they are harder to find. You need to tell your bank to keep the interest money your savings account is earning. It is haraam money... you must try your best not to take or give anything in interest.
	Ma'Salama, Hamid
	IP Logged

Suleyman Senior Member Joined: 10 March 2003 Location: Turkey Online Status: Offline Posts: 3324	Posted: 02 July 2006 at 2:36am
	*Originally posted by winjoy* is it ok for a Muslim to loan from bank to buy an apartment or a car ? As Salamu Alaykum,you can only use murabaha for buying a home through it's rules,the bank will buy the house for you then pays it's value to the buyer of the house and takes the property on it's own(the bank),then will give you a murabaha project including payment days,the project must include a cash payment(min/25%) being paid to the seller of the house without the bank by your side as the buyer of the house ..take care that Islamic banks only pays the money to the buyer of the house not to the one who uses murabaha,at the end of the payment period the bank gives the property to you...this is Islamic banking style...the credit depends on real trade not on money and interest...as an practicable examples for you,interest means the difference(quantity,moneyu,benefits..exct.) received by the exchange of two same thing...
	IP Logged

amah Female Islam Moderator Group Joined: 18 March 2006 Online Status: Offline Posts: 1334	Posted: 02 July 2006 at 4:47am
	Assalaamualaikum Winjoy: Here is what Allah has said regarding RIBA (usury): Those who eat riba (usury) will not stand (on the Day of Resurrection) except like the standing of a person beaten by Shaitan (Satan) leading him to insanity. That is because they say: "Trading is only like riba (usury)," whereas Allah has permitted trading and forbidden riba (usury). So whosoever receives an admonition from his Lord and stops eating riba (usury) shall not be punished for the past; his case is for Allah (to judge); but whoever returns (to riba (usury)), such are the dwellers of the Fire - they will abide therein. ( سورة البقرة , Al-Baqara, Chapter #2, Verse #275) Allah will destroy riba (usury) and will give increase for Sadaqat (deeds of charity, alms, etc.) And Allah likes not the disbelievers, sinners. ( سورة البقرة , Al-Baqara, Chapter #2, Verse #276) O you who believe! Be afraid of Allah and give up what remains (due to you) from riba (usury) (from now onward), if you are (really) believers. ( سورة البقرة , Al-Baqara, Chapter #2, Verse #278) O you who believe! Eat not riba (usury) doubled and multiplied, but fear Allah that you may be successful. ( سورة آل عمران , Aal-e-Imran, Chapter #3, Verse #130) Here is what the Prophet (saw) said regarding RIBA: From Sahih Bukhari: Narrated Samura bin Jundab: The Prophet said, "This night I dreamt that two men came and took me to a Holy land whence we proceeded on till we reached a river of blood, where a man was standing, and on its bank was standing another man with stones in his hands. The man in the middle of the river tried to come out, but the other threw a stone in his mouth and forced him to go back to his original place. So, whenever he tried to come out, the other man would throw a stone in his mouth and force him to go back to his former place. I asked, 'Who is this?' I was told, 'The person in the river was a riba-eater." (Book #34, Hadith #298) Try to stay away from interest as much as possible. Loan is ok as long as there is no interest involved, I cannot locate the hadith where it says regarding interest that taking, giving, witnessing ....is haraam. Can someone provide that hadith for me? Look for halal means, insha allah you will find some way. May Allah bless you. Wassalaam.
	Allah is Sufficient as a Walee (Protector) and Allah is Sufficient as a Naseer (Helper). (Surah An-Nisa, Chapter #4, Verse #45)
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herjihad Senior Member Joined: 26 January 2005 Location: United States Online Status: Offline Posts: 2473	Posted: 02 July 2006 at 6:31am
	*Originally posted by DigitalStorm82* Asalamu Alaikum Bro/Sis, It is only okay to borrow money IF and only IF there is no interest involved. Interest is so bad that it is equivalent of having sex with your mother 70 times.. GOD FORBID... May Allah save the muslims that are forced to take loans and have no choice. If you can rent an appartment that would be better for you. As far as a car, try to find a muslim brother or a muslim dealer who is selling the cars... and you can buy from him without interest inshallah. May Allah keep you on the right path, Inshallah. W'salaamz, Hamid Bismillah, This is really sick. There is no such hadith, and I don't believe our beloved prophet said such a twisted thing. Peace
	Al-Hamdulillah (From a Married Muslimah) La Howla Wa La Quwata Illa BiLLah - There is no Effort or Power except with Allah's Will.
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herjihad Senior Member Joined: 26 January 2005 Location: United States Online Status: Offline Posts: 2473	Posted: 02 July 2006 at 6:32am
	*Originally posted by winjoy* is it ok for a Muslim to loan from bank to buy an apartment or a car ? Ask the Muslim people in your community who own things how they got their original money to buy their property, just for curiosity's sake. Peace
	Al-Hamdulillah (From a Married Muslimah) La Howla Wa La Quwata Illa BiLLah - There is no Effort or Power except with Allah's Will.
	IP Logged

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