Monthly Archives: September, 2014

Solution for Those Who Already Entrapped in Usury Practice

usury

Solution for Those Who Already Entrapped in Usury Practice

Ibn Sa’di said, “All transactions, whether it is selling and buying, renting, investing, etc, in which the parties involved in it have agreed with it, but it is forbidden in shari’a, is an unlawful and invalid transaction. The willingness of all parties involved is useless because the willingness of transactors is a stipulation for validity of a transaction after the please of Allah and His messenger of that transaction.”
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Rulings for Fine that is given to the Social Activity

Social Activity

Rulings for Fine that is given to the Social Activity

Question:

I’d like to buy a car using the renting and buying contract or what we called, ‘ijarah al muntahi bit tamlik [musyarakah mutanaqishah]. There is a stipulation in the contract, saying that if I was late to pay the installment for 15 days, than I’ll be fined for 5000 riyal and the fine will be given to social interest. What is the ruling for this stipulation?

Answer:
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