Active TopicsActive Topics  Display List of Forum MembersMemberlist  CalendarCalendar  Search The ForumSearch  HelpHelp
  RegisterRegister  LoginLogin  Old ForumOld Forum  Twitter  Facebook
Advertisement:
         

Islam for non-Muslims
 IslamiCity Forum - Islamic Discussion Forum : Religion - Islam : Islam for non-Muslims
Message Icon Topic: loan Post Reply Post New Topic
Page  of 2 Next >>
Author Message
winjoy
 
Newbie
Newbie
Avatar

Joined: 26 June 2006
Location: Hong Kong
Online Status: Offline
Posts: 20
Quote winjoy Replybullet 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 IP Logged
DigitalStorm82
 
Groupie
Groupie
Avatar

Joined: 17 April 2006
Location: United States
Online Status: Offline
Posts: 62
Quote DigitalStorm82 Replybullet 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 IP Logged
winjoy
 
Newbie
Newbie
Avatar

Joined: 26 June 2006
Location: Hong Kong
Online Status: Offline
Posts: 20
Quote winjoy Replybullet 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 IP Logged
DigitalStorm82
 
Groupie
Groupie
Avatar

Joined: 17 April 2006
Location: United States
Online Status: Offline
Posts: 62
Quote DigitalStorm82 Replybullet 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 IP Logged
Suleyman
 
Senior Member
Senior  Member


Joined: 10 March 2003
Location: Turkey
Online Status: Offline
Posts: 3324
Quote Suleyman Replybullet 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 IP Logged
amah
Female  Islam
Moderator Group
Moderator Group
Avatar

Joined: 18 March 2006
Online Status: Offline
Posts: 1334
Quote amah Replybullet 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)
IP IP Logged
herjihad
 
Senior Member
Senior  Member
Avatar

Joined: 26 January 2005
Location: United States
Online Status: Offline
Posts: 2473
Quote herjihad Replybullet 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.
IP IP Logged
herjihad
 
Senior Member
Senior  Member
Avatar

Joined: 26 January 2005
Location: United States
Online Status: Offline
Posts: 2473
Quote herjihad Replybullet 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 IP Logged
Page  of 2 Next >>
Post Reply Post New Topic
Printable version Printable version

Forum Jump
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot delete your posts in this forum
You cannot edit your posts in this forum
You cannot create polls in this forum
You cannot vote in polls in this forum

Disclaimer:
The opinions expressed herein contain positions and viewpoints that are not necessarily those of IslamiCity. This forum is offered to stimulate dialogue and discussion in our continuing mission of being an educational organization.
If there is any issue with any of the postings please email to icforum at islamicity.com or if you are a forum's member you can use the report button.

Note: The 99 names of Allah avatars are courtesy of www.arthafez.com

Advertisement:



Sponsored by:
Islamicity Membership Program:
IslamiCity Donation Program  http://www.islamicity.com/Donate
IslamiCity Arabic eLearning http://www.islamiCity.com/ArabAcademy
Complete Domain & Hosting Solutions www.icDomain.com
Home for Muslim Tunes www.icTunes.com
Islamic Video Collections www.islamiTV.com
IslamiCity Marriage Site www.icMarriage.com