Monthly Archives: April, 2016

Ruling of Housing Credit

Ruling of Housing Credit

Ruling of Applying for Housing Credit via Bank

There are two ways of buying goods via bank:

Firstly, a muslim goes to a bank and tell the bank, “I want to buy a certain house or car.” The bank says, “We don’t have it. Please check out if there is something that suits you, tell us, and we’ll buy it.” Then he goes to find what he wants, and when he finds it, he informs the bank of it, and the bank buys it.

After the bank buys and has it, then the bank makes a transaction with its client and there is no agreement that ties the client when the bank hasn’t buy and own the goods. For example, the client doesn’t store some down-payment, or certain amount of money which some people called “administration fee”, nor anything as a compensation of bank’s willingness to help him in realizing his wish, and it is not allowed to sign any written agreement which stated about the ability to buy the goods after the bank owns it. These are not allowed until the bank has the intended house.
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Cheap Market

Cheap Market

Cheap Market

We may have heard about this, moreover at the time prices of the basic needs at the market skyrocketed. The government may try to help its people by opening a cheap market.

Upon hearing the term “cheap market”, we’ll certainly think of a market that sells thing with a very low price – below the normal market price.

Or, we’ll imagine of a market that looks “cheap”, since goods sold in it are cheap, low-quality ones. Thus it is just normal that such market only attracts poor people, who are used to starved.

Very rarely the elite ones glance toward a cheap market; those who are ultra-rich, who shop using their credit card.
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Fiqh Muamalah: Purchasing by credit, Selling by cash

Purchasing by credit and cash

Ruling of Purchasing by credit, Selling by cash

Question:

Assalamu’alaikum.

Ustadz, I’d like to ask about the ruling of purchasing house or land, and what is the ruling if we bought a house and paid half of its price (the rest is still unpaid and without taking bank loan), then we resell it with a higher price than its initial price, and we gain some profits from the selling of that not-yet-paid-off house.. Is it considered as usury? Thank you very much. Wassalam.

From: M Ali Sadikin

Answer:
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Contest of Studying Religious Book

Contest of Studying Religious Book

Question:

In order to boost public understanding of Islam, A certain Islamic publisher or book store hold a contest of studying religious book, intended to anyone who buy the book that becomes the contest’s reference. Is this activity allowed?

Answer:
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