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  1. ʍʊɦǟʍʍǟɖ ʊֆʍǟռ ɢɦǟռɨ
    ʍʊɦǟʍʍǟɖ ʊֆʍǟռ ɢɦǟռɨ

    In Islamic finance, paying of interest, also known as "Riba," is considered Haram (forbidden). This prohibition is based on several verses in the Quran and best sayings of the Prophet Muhammad (peace be upon him) that emphasize the unjust and exploitative nature of Riba. One of the fundamental reasoRead more

    In Islamic finance, paying of interest, also known as “Riba,” is considered Haram (forbidden). This prohibition is based on several verses in the Quran and best sayings of the Prophet Muhammad (peace be upon him) that emphasize the unjust and exploitative nature of Riba. One of the fundamental reasons why Riba is considered Haram is because it results in unjust enrichment at the expense of others. Charging interest on loans can lead to a cycle of debt and economic exploitation, especially for those who are already in vulnerable financial positions.

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  1. Muhammad Saad
    Muhammad Saad Islamic Scholar

    Bitcoin or any other digital currency is purely a virtual and imaginary currency, lacking the fundamental attributes and conditions of real currency. Currently, no government has officially accepted responsibility for it. Various religious authorities and scholars worldwide, including Darul Uloom DeRead more

    Bitcoin or any other digital currency is purely a virtual and imaginary currency, lacking the fundamental attributes and conditions of real currency. Currently, no government has officially accepted responsibility for it. Various religious authorities and scholars worldwide, including Darul Uloom Deoband, have issued fatwas declaring it as illegitimate.

    Bitcoin or any digital currency, in essence, is nothing more than a fictional currency, devoid of the essential characteristics of real currency. The online trading of Bitcoin or digital currency under the guise of buying and selling is merely a deception, as it lacks actual substance, and there are no legal conditions for its transactions. In reality, it is akin to forex trading and takes the form of usury and gambling.

    However, in my opinion, if the government were to grant permission, there may be a possibility of engaging in spot trades.

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  1. Farah
    Farah

    Using haram money in Islam is strictly prohibited, but if someone unintentionally ends up with or spends such money for a charitable cause, it may not be considered haram itself. However, Muslims should not expect rewards in the hereafter for using haram money in this way. In Islam, the act of givinRead more

    Using haram money in Islam is strictly prohibited, but if someone unintentionally ends up with or spends such money for a charitable cause, it may not be considered haram itself. However, Muslims should not expect rewards in the hereafter for using haram money in this way.

    In Islam, the act of giving to charity, known as sadaqah or zakat, is rooted in sincerity and good intentions. Money obtained through unlawful means like interest (riba), gambling, theft, or any forbidden source is viewed as impure and unacceptable for charity. Even though giving such money to charity might be an attempt to cleanse ill-gotten wealth, it may not be regarded as a virtuous act in Islamic teachings.

    Islam encourages Muslims to donate to charity from their lawful and halal (permissible) earnings. This reflects genuine intentions to assist others and earn the reward of generosity from Allah. Donating haram income to charity may not be accepted by Allah. It is generally more advisable for individuals to repent for their wrongdoing and seek forgiveness for any unlawful earnings.

    It’s important to acknowledge that scholars may hold varying opinions on this issue, and specific circumstances can impact the acceptability of such donations. In cases involving haram money and charity, individuals are advised to seek guidance from knowledgeable religious authorities or scholars for proper guidance.

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  1. Abdul Rafeh
    Abdul Rafeh

    Interest (riba in Arabic) is considered haram (forbidden) in Islam because it is seen as a form of exploitation and a violation of the principles of equality and justice. According to Islamic teachings, money should only be used as a medium of exchange and should not be used to generate more money tRead more

    Interest (riba in Arabic) is considered haram (forbidden) in Islam because it is seen as a form of exploitation and a violation of the principles of equality and justice. According to Islamic teachings, money should only be used as a medium of exchange and should not be used to generate more money through interest. This goes against the concept of risk-sharing and mutual cooperation in economic transactions, which is seen as a more ethical and equitable way of conducting business in Islam. Additionally, charging or paying interest is seen as a form of greed and a desire for unlimited material gain, which goes against the teachings of moderation and balance in Islam.

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