Transactions (Shafii)

April 13, 2024 3 mins

How Should I Compensate for Interest I Paid?

Answered by Shaykh Irshaad Sedick Question I recently paid my credit card debt in full, alhamdulillah. I am supposed to determine the total amount I paid in interest over the years and pay this amount to charity as an expense. Please clarify if this is correct and elaborate on how one may erase this wrongdoing […]
April 6, 2024 3 mins

Can I Use Interest to Pay the Penalty for My Broken Oath?

Answered by Shaykh Irshaad Sedick Question Twelve months ago, I was scammed by a trading business. I had proof from their terms and services that I could request a full refund within 45 days of purchasing the product. I didn’t get a refund from them, and my bank was horrible at handling the situation. Now, nine […]
March 31, 2024 3 mins

How Does Islamic Banking Differ from a Regular Home Loan?

Answered by Shaykh Muhammad Carr Question How does an Islamic banking loan differ from a conventional one? Despite choosing methods like Murabaha or Diminishing Musharaka, the repayment seems similar, leaving me apprehensive. Could you clarify how Islamic banking avoids interest despite repayment amounts exceeding the borrowed sum? Answer Thank you for your question. May Allah […]
February 25, 2024 5 mins

Can I Respond to an Invitation to a Riba-Purchased Home?

Answered by Shaykh Irshaad Sedick Question Is it permissible for me to accept an invitation from Muslims to a house that was undoubtedly purchased with riba (interest)? Similarly, does the same ruling apply when I must travel in a vehicle financed through Riba? I am concerned about whether, by doing so, I might inadvertently be […]