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 ?

winjoy wrote: 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...

DigitalStorm82 wrote: 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

winjoy wrote: 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

Suleyman wrote: winjoy wrote: 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...

Bismillah,

Sweet.  25% fee.  This is Islaamic banking, huh?  I think the Islaamic bankers are kind of missing the point of not paying or charging or witnessing riba.  You're not supposed to rip people off and cause the inflation of the value of goods over time.  Please think about it. 

What is the bottom line?  Take two houses:  One is paying 6 % interest and the other with your 25% fee.  Can you answer which house in the end will end up actually costing more money?  I know you know the answer without doing the math.  Then just think about the meaning and reason for the rule and do the right thing.

Peace

herjihad wrote: Suleyman wrote: winjoy wrote: 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... Bismillah, Sweet.  25% fee.  This is Islaamic banking, huh?  I think the Islaamic bankers are kind of missing the point of not paying or charging or witnessing riba.  You're not supposed to rip people off and cause the inflation of the value of goods over time.  Please think about it.  What is the bottom line?  Take two houses:  One is paying 6 % interest and the other with your 25% fee.  Can you answer which house in the end will end up actually costing more money?  I know you know the answer without doing the math.  Then just think about the meaning and reason for the rule and do the right thing. Peace

Sister,you have mistaken my words,there is no such as 25% fee,it is an adding from the buyer of the house from the real value of the house,the rest amount is being financed by the bank,this is the rule of real trade witnessing that if there is a real sell unless one can use sellers as an fraud activity under the papers,25% is the proof of understanding that he is eager to own a house,but if one has no 25% then also can use murabaha project just he must prove he really buys a house behind the papers...bank buys and sells the house to the murabaha applicator,bank buys to 1 and sells to 1,1;the murabaha applicator pays back the 1,1 with installments...in interest banking systems,bank gives money to the buyer such as 1 and at the end of the time period takes 1+money from the customer,as i have said riba is on money not on trade...thx...

Bismillah irrahman irrahim

Assalamu alaikum

I have heard two rulings on this particular issue, first one is from hanafi school which states that if you live in non-muslim country then taking an interest on your money is ok from the banks in those countries. There are some sort of arrangements in the banks that if you have some basic money you keep it in those banks and then pay the mortgage with your salary through your bank. The interest on your money and the mortgage interest square each other off. Quite complicated for my little brain but I have written as it is.

Now the second way is told by my sheikh who happens to be very strict(first ruling stated above is thought to be most lineant one). I am not sure how it is where you live but here even banks like HSBC offer islamic mortgages but according to my sheikh most of em are not halal. For a halal mortgage or loan, islamic bank acts as a first buyer. The property is bought say 100,000, islamic bank pays for it. Then you have a contract with the islamic bank that within next so many years you are going to pay back the money with stated additional money due to increase in the value with time. i.e add 20,000 for 20 years as thats how much you think value of property is going to increase. But keeping in mind that you have to state the final value in your contract and it can not be changed because you are looking at a high rise in property value.

wassalam