Can he get rid of interest by giving it to his brother who is in debt? Question I put some money in the bank in return for interest, and I want to purify (my wealth) of this interest by giving it to my brother who is responsible for himself and his family, and also owes money to one of his friends. He borrowed the money to buy a piece of land on which to build a house for his family, as his curren... »

Ruling on depositing money in the bank, and interest Question We are Indian citizens. We deposit money in the bank…how to deal with the interest given by bank? Answer Praise be to Allaah. Firstly: Depositing money in the bank in return for interest is riba (usury), which is a major sin. Allaah says (interpretation of the meaning): “O you who believe! Be afraid of Allaah and give up what rema... »

Transferring money from one currency to another Question What is the ruling on money which is transferred from one currency to another? For example, I am paid in Saudi riyals, and I transfer it to Sudanese riyals. One Saudi riyal is equal to three Sudanese riyals. Is this riba? Answer Praise be to Allaah. It is permissible to change notes of one currency into notes of another currency, even if the... »

Is it permissible to buy things through the Internet, knowing that I have a credit card for paying Question Is it permissible to buy things through the Internet, knowing that I have a credit card for paying through the Internet from one of the banks in Jordan. I put the money I want on the card, and the bank takes one dinar only each time I put money on the card, without any other payments. Answer... »

Buying with Debit Cards Question I hope that you will be able to advise us about using Debit cards. These cards are used in the following manner: when the amount of the purchase has been added up, for example 150 riyals, the card is given to the vendor and he passes (“swipes”) it through a machine that he has in his store. The value of the purchase is then taken instantly, by transferring the amou... »

Haris Irfan presents an excellent overview of the Islamic Finance market, covering its history to modern day transactions. Harris Irfan, Managing Director of European Islamic Investment Bank and Partner at Cordoba Capital, ‘Inside the hidden world of Islamic finance’. Novak Druce Centre, Saïd Business School, University of Oxford, 18 November 2014. »