What is the ruling on taking a loan from an interest-based bank (a usurious bank) to buy an apartment for housing, noting that I am renting at a high amount relative to my income, and I am an employee? Also, considering that the conditions of Islamic banks are strict, and I cannot obtain the full amount from them, is it permissible to take a loan to purchase an apartment or not? May Allah reward you.
Usury (interest) is prohibited by Islamic law, and the Messenger of Allah, peace be upon him, cursed the one who consumes usury, the one who pays it, its recorder, and its witnesses. Whoever leaves something for the sake of Allah, Allah will compensate them with something better and greater, and Allah will provide relief after hardship. Needing a place to live does not permit taking a loan with interest. And Allah Knows Best.
Is buying shares from the Arab Bank permissible?
Buying and selling shares owned by usrious companies is impermissble. And Allah Knows Best.
I have 490 shares in a commercial company, and they have been held for a year. The price of each share is one dinar, noting that the shares are at a loss. I want to know the amount of zakat due on them?
Commercial shares are subject to zakat based on their current market value, even if they are at a loss. The zakat rate is 2.5%. And Allah Knows Best.
I missed fasting 30 days of the obligatory fast within the last 6 years and 20 days. How do I fast? And what should I do?
Missed fasting days must be made up, and it is permissible to make them up on non-consecutive days, as continuity is not required for making up missed fasts. Additionally, expiation (Fidya) must be given: feeding one needy person for each day if the makeup is delayed for one year. If the delay extends to two years, Fidya must be given to two needy people per day, and so on. And Allah Knows Best.
