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Can Interest be Used to Pay a Credit Card?

Q&A - Wealth PurificationBy Post Admin MathabahSeptember 25, 2022

Answered by Shaykh Yūsuf Badāt Question: Zaid bought a property. Lawyers advise him to transfer the money into a Nedbank trust interest bearing account which he does. He earns interest after the paperwork is finalized. Can Zaid assist his cousin who is also using a Nedbank account by paying the interest that has accumulated on…

Islamic View on Vehicle Purchase Options

Q&A - Wealth PurificationBy Answers AdminDecember 31, 2018

Answered by Mufti Ibrahim Kureshi Question: There are many car dealerships, some even owned by Muslims who offer 0% financing to Muslim customers. There is a third party financing bank or institution involved in this transaction. As for the contract, the dealership adds the interest amount into the principle. They call this a murābaḥah (profit…

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