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so who is religous here? |
Kwiksta
Joined: Jul 17, 2004
Posts: > 500
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On 2005-10-13 18:36:13, amnesia wrote:
we do we have Islamic Banks.
They work by not taking interest.
For example a normal bank would give you a loan to buy a car (lets say it was 15,000) you have to pay back the load during a period of time which costs 20,000.
In an Islamic bank, they say, ok you want this car. The bank BUYS the car, then gives it to you and gives you a finance option which comes to 20,000.
It's a technicality but one that most Muslims have no choice with in this day and age.
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theyve got that in s. africa....which banks do that here?
Previously --> tempsonyfreak |
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joebmc
Joined: Jan 03, 2003
Posts: > 500
From: Kent
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What about Muslim saving accounts and that surly you wouldn’t say no to the banks giving you interest on your money?
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PeterKay
Joined: Jul 08, 2003
Posts: > 500
From: The Ummah
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On 2005-10-13 17:28:51, solidsingh wrote:
so what do muslims say to banks when they open accounts
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This is what i do, at the end of the year for example Ramadhan i contact my bank and tell them to give me the years total of interest in my account and then take that amount and give it to the poor with my zakat (2.5% of my total wealth). In this country its not as easy but Islam helps you in situations like these and my example is one easy way of dealing with the issue.
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PeterKay
Joined: Jul 08, 2003
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From: The Ummah
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On 2005-10-13 18:41:14, joebmc wrote:
What about Muslim saving accounts and that surly you wouldn’t say no to the banks giving you interest on your money?
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Yes i do say no. Islam comes before my wealth.
Verses 130 and 131 from The Holy Quran:
O ye who believe! Devour not usury, doubled and multiplied; but fear Allah. that ye may really prosper.
Fear the Fire, which is repaired for those who reject Faith.
Rather give the interest back than suffer in the hearafter.
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solidsingh
Joined: Jan 15, 2004
Posts: > 500
From: india
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are you allowed to borrow money?
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PeterKay
Joined: Jul 08, 2003
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From: The Ummah
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Yes, i borrow money of my parents if need be. BUT they do not charge any interest and this is fine.
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solidsingh
Joined: Jan 15, 2004
Posts: > 500
From: india
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how do you afford a house then, you ask your parents for 200k?
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PeterKay
Joined: Jul 08, 2003
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From: The Ummah
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Nope, my house only cost £16k and they helped me buy it. (10yrs ago)
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solidsingh
Joined: Jan 15, 2004
Posts: > 500
From: india
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ok but what about muslims now who are like 21, how are they supposed to afford a house without a mortgage
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amnesia
Joined: Jan 15, 2004
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From: Doha, London, Tokyo, Shanghai
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same way as I explained with buying a car.
In most Arabic countries the goverment gives you a home or land plus money to build a home for example.
But lets say you are not from an Arabic country and just a Muslim.
Get a friend to help.
Maybe a friend can't help.
Then go to an Islamic Bank.
In some instances you have no choice. lets say you are in a country without an Islamic Bank, then you have no choice but to get a loan.
Mortgages in the Uk are extortionate anyway compared to Bahrain or Qatar.
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solidsingh
Joined: Jan 15, 2004
Posts: > 500
From: india
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so would you be sinning by paying or gaining interest even if you had no choice
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scotsboyuk
Joined: Jun 02, 2003
Posts: > 500
From: UK
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@solidsingh
Peter or amnesia can correct me here, but I would imagine that it is permissible to get a mortgage if it is the only way one can get a house. I would imagine that the intention is the most important factor.
"I may be drunk my dear woman, but in the morning I will be sober, and you will still be ugly." WSC |
PeterKay
Joined: Jul 08, 2003
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From: The Ummah
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True Scots, Islam rewards you on intention first then actions.
These sites may interest you:
http://www.halalmortgages.com/halal/index.html
http://www.amanahfinance.hsbc[....]caf.nsf/Pages/UKFAQHomeFinance
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solidsingh
Joined: Jan 15, 2004
Posts: > 500
From: india
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that jus interest but reworded, if islam rewards your intentions, why the need for an islamic bank?
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dealer3
Joined: Apr 11, 2005
Posts: > 500
From: London
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hi everyone, fiirst tiime im posting here... i tried to read as much of the 80 odd pages as possible, i would just like to say that i am also a good muslim, i would just like to point out there is slight confusion in a few areas even among muslims, but otherwise most of the disccussions have been quite good...
if you would like to ask any questions about Islam, like some others did then feel free to visit
www.towardsislam.com/forum
i mean at the end of the day you dont have to,and its not no encyclopedia, however there is a section for muslim and non-muslim dialogue where people with questions about islam or people who want clarifying in certain ares can ask questions and hopefully they will be answered in a very good manner!
feel free all are wlecome...however please continue this thread hopefully i will also contribute my knowledge!
p.s. you could also look ay my signature...
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Posted: 2005-10-13 18:41
