Prohibition of Riba and its rationale : how can Muslims avoid Riba ?

Fatawa Question

Dear Shaikh Salam Alaikum. One of most boiling questions we have in mind of a Muslim is about Riba / interest. While always the Muslim scholars have only interpreted the word Riba and said it’s Haram. In current world context what alternatives do we have for Muslims living in non Muslim countries and the west, they cannot keep money and home for safety reasons also it is illegal to do so by many governments. We have to pay taxes to govt., then we have to pay from the capital we have to non Muslims. If we have to buy a house a car or any of the essential necessities we have to take a loan, and are forced to pay interest. Even in Muslim countries the authorities and most of the people bank with non Islamic banks, for reasons known to us. There is a fatwa from Nizamia, Hyderabad India that gives the rules of exception, please advise how can Muslims avoid Riba in their daily lives, and survive in Non Muslim countries. Also please advise if Zakah can be given to close relatives and own brothers and sisters who are not their dependents. Jazak Allah khair. S. A. Khan.

Fatwa

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Publication Date

2002-09-25

Main Subjects

Economics & Business Administration
Islamic Studies

Topics

• Islamic jurisprudence
• Muslims
• Usury

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-725660

• APA
• MLA
• AMA