Banking/ Interest

Riba In Darul Harb

QUESTION: What is the rulling regarding interest in Darul Harb? Some Muslims based in countries like France, Belgium and the UK claim that these countries are Darul Kufr and Darul Harb, thus legitimizing the Riba. What is the Hanafi Madhab ruling in this regard?...

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Assisting A Parent With Interest Money

QUESTION: My mother has a debt exceeding R10 000 from a business which she started. She owns no jewellery and whatever income she earns, is used to pay for her household expenses and maintenance. She is paying the debt off very slowly. Can I use interest money to...

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eBucks

If a person uses his virtual card via his Google Wallet App, FNB places the individual on a higher tier for the eBucks rewards program, allowing one to earn more eBucks. My brother and I manage the expenses of our household. He pays for the utilities and the...

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Working For A Financial Institution

QUESTION: I work in a claims and disability assessment position, where I assess severe illness and disability, for Old Mutual. Someone brought it to my attention that Old Mutual works with interest. Is it permissible to work for this type of institution? ANSWER: Based...

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Paying Traffic Fines Using Interest

QUESTION: Interest on our bank account is is removed monthly and discarded of. Can we use this money to pay off traffic fines? ANSWER: No, it cannot be used to pay fines. The recipients of interest funds are poor Muslims who are eligible to receive Zakaah, or poor...

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Service Fee On EFT

QUESTION: Can we charge a service fee to a person doing an EFT in lieu of cash? For example, accepting cash and carrying comes with a high risk of endangerment. ANSWER: Yes, it is permissible on condition that there is mutual agreement between both the parties for...

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Service Fee For EFT

QUESTION: A person has cash and requires someone to do an EFT on his behalf. Is it permissible to charge the person a 3%-5% service fee for administering the EFT or will it be regarded as interest? ANSWER: Yes, this is permissible as the charge is in exchange for a...

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Credit-Card Debt

QUESTION: I used an FNB Credit Card in my business around the year 2005. The business subsequently closed down around 15 years ago due to financial problems. The initial amount owed was around R120 000, but with interest accrued, it accumulated to R150 000. The...

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