We live in a time where interest (usury) is widespread and in some cases there is no escaping it especially for Muslims living in the West. Credit cards, loans, mortgages and many other financial products involve interest.
(NOTE: If you want to build a strong and powerful relationship with Allah, check out Islamia TV, where you can watch Islamic speakers from across the globe deliver inspiring and motivational courses. Learn more at www.islamia.tv.)
What does this prevalence of interest mean for Muslims and their financial dealings living in the West?
Is there any flexibility or leniency for Muslims living in these environments when it comes to dealing with interest?
In this video I answer and explain.
(NOTE: If you want to build a strong and powerful relationship with Allah, check out Islamia TV, where you can watch Islamic speakers from across the globe deliver inspiring and motivational courses. Learn more at www.islamia.tv.)
As salaam alaikum brother, Jazakallahou khairan for all the beautiful advise for the seek of Allah, please what do you think of UIF Muslims organization that helps poor Muslims like us .
They said that the way their earned they profit is that ,when a Muslim brother or sister came to them to buy a house if you alegeble (meaning if they agree with your application)you choose the house you wanted and they buy it and resell to you with a slice of profit.
For example:if the house cost one hundred thousand dollars,their will resell to you at 120.000 dollars,but before their agree to your application you need to have a good credit score which always follows with riba.
Isn’t credit in conventional loan or bank Haram for the sincere believers?so I’m very confused , please base on your sincere advice I will make my decision.
Jazakallahou khairan