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Fatawaa - Search Sections - Usury (interest) &Loans

Ruling on Granting Loans to Farmers on the Condition of Marketing their Produce

Agriculture marketing companies grant zero-interest loans to farmers on the condition of marketing their produce. However, they charge up to 5% of the farmer`s profit. What is the ruling of Sharia on this?

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Islamic Solutions to Insolvent Debtor and the Reward of the Patient Creditor

What are the solutions offered by Islamic Law regarding debt repayment or postponement in light of the difficult economic circumstances? Also, what is the reward of the creditor who forgives the debtor?

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An Interest-Bearing Loan is Void

What is the ruling of Sharia on obtaining a loan where the same amount of that loan is repaid, but another party pays the interest?

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Ruling on Claiming a Waived Debt

My paternal uncle owed my brother (15000 JDs). However, my uncle died before settling the debt. While we were receiving condolences, my brother stated that he decided to forgive the deceased and waive the debt. We accepted that and divided the estate among the heirs. However, after five years, my brother reclaimed the debt. Are we obliged to pay him?

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Ruling on Selling Pension

What is the ruling of Sharia on selling pension?

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Ruling on Claiming the Promotional Discount from Late Payers

We own a learning club that offers educational courses on various subjects on semi-annual basis. The contract signed with the student includes the agreed price and payments over the period of the course. The club offers promotional discount to the student who makes payment on time. However, the amount of discount is added to the original price of the course when the student is behind in the payment, as stipulated in the contract. For example, if a course costs (400 JDs), a student is offered a (100 JDs) as a discount provided that he/she pays the whole sum, which is (300 JDs), on time at the end of the course. However, if he/she is behind in payment, then he/she is required by court to pay the (400 JDs). Of course, this is taken care of by the club`s agent or lawyer in charge of the following up and collection, be that via court or bargaining. The agent or lawyer deliver this task in return for taking the amount of the discount offered to the student. What is the ruling of Sharia on this?

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Ruling on Personal Advances System of the Social Security Corporation

What is the Islamic ruling on the personal cash advances made by the Social Security Corporation to pensioners in return for (4.5%) as declining interest?

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Ruling on Developing Software for Riba-Based Transactions

Our Company is specialized in software development. Recently, we were asked to develop the software of a conventional bank to help clients open accounts there. What is the ruling of Sharia on that?

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Ruling on Margin Financing

What is the ruling on lending a client an amount larger than that which he had deposited forbuying stocks at the Amman Stock Exchange; knowing that the financial intermediary (Company) charges a commission against each buy and sell activity undertaken by the client?

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Ruling on Building Decorations for Stores through Murabaha

What`s the ruling on financing stores' decorations through Murabaha sale/transaction?

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Ruling on Charging Extra Amount on Loan to be Given to Charity

A certain organization works on developing villages and small enterprises through giving small loans to villagers. A borrower is given (2500 JDs) to be paid back over a certain period, but he/she must pay (75 JDs) as loan fees, which will be spent on village affairs. What is the ruling of Sharia on this?

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Ruling on Guaranteeing Loans against Commission

What is the ruling on dealing with a company that guarantees loans, where it concludes agreements, with banks, stipulating that whoever fails to pay off a loan, the company will cover up to (80%) of that loan in return for taking (1.5%) from the total of that loan?

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It is Forbidden to Sell Gold Via Murabaha Contract

What is the ruling on buying gold via staff provident fund on Murabaha basis where the fund purchases the gold and sells it to the members of the staff by installments?

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Some Rulings on Trading with Gold

What is the ruling on selling and purchasing gold along with mentioning the regulations governing that?

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Ruling on Waiving/Forgiving a Portion of Debt against early Settlement

Someone has bought a car through a Provident fund based on a Murabaha contract. Is it permissible to waive a portion of the payments due on him in return for early settlement of the rest of the debt?

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