Comments on: What can I do with the interest paid by my bank?Is it HARAM to donate it to a Masjid or Madrasha? http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha Take the Journey of a lifetime Wed, 22 Feb 2012 21:34:59 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Student Of Knowledge http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha/comment-page-1#comment-13055 Student Of Knowledge Tue, 16 Feb 2010 14:59:59 +0000 http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha#comment-13055 Peace.. If you have taken interest from the bank them you have these options according to the Shariah: 1) stop taking the interest from the bank by cancelling the interest 2) Take the interest and then give it back in charity (meaning the poor)... This is the the answer you are looking for.. Peace<br><b>References : </b><br> Peace..

If you have taken interest from the bank them you have these options according to the Shariah:

1) stop taking the interest from the bank by cancelling the interest
2) Take the interest and then give it back in charity (meaning the poor)…

This is the the answer you are looking for..

Peace
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]]> By: sunamwal http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha/comment-page-1#comment-13054 sunamwal Tue, 16 Feb 2010 14:32:59 +0000 http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha#comment-13054 Usury is haraam. Interest is not haraam. Usury is the benefit earned on giiving a loan to a destitute-needy on onesided terms of loan, instead of giving a gift of money to the destitute needy person ( termed Sadaqa in Muslim theology).. Loans given for productive investments are not usurious.<br><b>References : </b><br> Usury is haraam. Interest is not haraam. Usury is the benefit earned on giiving a loan to a destitute-needy on onesided terms of loan, instead of giving a gift of money to the destitute needy person ( termed Sadaqa in Muslim theology).. Loans given for productive investments are not usurious.
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]]> By: D'voiCe http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha/comment-page-1#comment-13053 D'voiCe Tue, 16 Feb 2010 13:46:59 +0000 http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha#comment-13053 'Islamic banking' is the biggest con ever devised. No interest is received on deposits in their bank accounts, but they will offer to use YOUR money to make investments on your behalf, with all the risk on YOUR shoulders - ie if they lose your money it's tough. However when you take out a loan with them, they apply a 'charge' which is based on the prevailing market rate of interest at regular banks. Who is the winner here? I think you'll find all money has at some point been used to deal with 'haram' things (alcohol, pork, etc) so all money could be considered as 'ill-gotten'. Besides, couldn't your money be put to better use? The Saudis have the mosque construction finance covered.<br><b>References : </b><br> ‘Islamic banking’ is the biggest con ever devised.
No interest is received on deposits in their bank accounts, but they will offer to use YOUR money to make investments on your behalf, with all the risk on YOUR shoulders - ie if they lose your money it’s tough.
However when you take out a loan with them, they apply a ‘charge’ which is based on the prevailing market rate of interest at regular banks.
Who is the winner here?

I think you’ll find all money has at some point been used to deal with ‘haram’ things (alcohol, pork, etc) so all money could be considered as ‘ill-gotten’.

Besides, couldn’t your money be put to better use? The Saudis have the mosque construction finance covered.
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]]> By: alan h http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha/comment-page-1#comment-13052 alan h Tue, 16 Feb 2010 13:09:59 +0000 http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha#comment-13052 Technically you should not put your money to 'usury' at all. Having done so, use as you are led.<br><b>References : </b><br> Technically you should not put your money to ‘usury’ at all.
Having done so, use as you are led.
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]]> By: robert C http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha/comment-page-1#comment-13051 robert C Tue, 16 Feb 2010 12:26:59 +0000 http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha#comment-13051 if in doubt ,reinvest and gain more interest, also make enquiries regarding what your donation is really doing. a lot of these charities use up to 80% of donations for administration costs plus perks i notice oxfam in new zealand sent there c.e.o over to copenhagen for the climate change conference, why , they are supposed to be a charity, not a political junket org.<br><b>References : </b><br> if in doubt ,reinvest and gain more interest, also make enquiries regarding what your donation is really doing.
a lot of these charities use up to 80% of donations for administration costs plus perks
i notice oxfam in new zealand sent there c.e.o over to copenhagen for the climate change conference, why , they are supposed to be a charity, not a political junket org.
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]]> By: Jose V http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha/comment-page-1#comment-13050 Jose V Tue, 16 Feb 2010 11:45:59 +0000 http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha#comment-13050 first answer is a good one., but you should ask this to an imam or someone who knows what they're talking about. NOT us knuckle heads. besides your in the wrong section.<br><b>References : </b><br> first answer is a good one., but you should ask this to an imam or someone who knows what they’re talking about. NOT us knuckle heads. besides your in the wrong section.
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]]> By: dawky http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha/comment-page-1#comment-13049 dawky Tue, 16 Feb 2010 11:38:59 +0000 http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha#comment-13049 Give it to the Pope.<br><b>References : </b><br> Give it to the Pope.
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]]> By: marytoo http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha/comment-page-1#comment-13048 marytoo Tue, 16 Feb 2010 11:02:59 +0000 http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha#comment-13048 do like th4e wealthy arabs do spend it on wine women and song in another country<br><b>References : </b><br> do like th4e wealthy arabs do spend it on wine women and song in another country
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]]> By: cheir http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha/comment-page-1#comment-13047 cheir Tue, 16 Feb 2010 10:14:59 +0000 http://blog.hajjumrahreview.com/haram/what-can-i-do-with-the-interest-paid-by-my-bankis-it-haram-to-donate-it-to-a-masjid-or-madrasha#comment-13047 That's why Muslims have their own banking system, consistent with the principles of Islamic law (Sharia).<br><b>References : </b><br> That’s why Muslims have their own banking system, consistent with the principles of Islamic law (Sharia).
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