Buying a Car or Home Without Riba (Interest)
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- Опубліковано 12 жов 2024
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Do we really understand our responsibilities regarding wealth? If we are sincerely striving to please Allah, then we must be concerned with our financial dealings. But in societies and systems where interest is the rule of the day, how are we able to participate without compromising our cherished Islamic principles? Jamal Badawi examines this issue by providing possible solutions for three common economic challenges: selling things that are forbidden, the question of riba (is it the same as interest?) and the question of insurance. He then briefly touches upon the following areas of concern: indirect riba, saving plans and pensions, student loans, working at a bank or insurance company, and interest accrued on bank accounts. Other topics discussed: leasing cars, paying more for Islamic financing, deferred payments, leasing equipment, how to explain why interest is haram, and if Islamic economics are just theory. (Duration: 1 hour, 15 min) Jamal Badawi is professor of management and religious studies at St. Mary's University in Nova Scotia. He is a well-known author and speaker on Islam who appears often on TV and radio. He serves on the board of CAIR-Canada and is also a member of the Fiqh Council of North America and the European Council for Fatwa and Research.
Brothers and Sisters in Islam. I currently work in a conventional bank and directly deal in riba for my job. I do not want, may Allah protect me fight Allah and his Messenger. Inshallah I will make these changes swiftly and may Allah bless me for doing so. When you give up something for Allah he will replace with something better. I too tried to delude myself into thinking it's halal but it is not. We should all fear Allah!
May Allah forgive us and save us - Aameen.
@Malik Al Habeshi
Bro the thought is PURE.
ALHAMDULILLAH
MAY ALLAH MAKE IT EASY FOR YOU
Assalammualaikum brother
Please don't quit your job from the bank
There's a difference between ribaa and4 usury
During the prophets time, it was usury not interest
There were no banks then
It was like loan sharks5 charging borrowers an extremely high interest
That's haram
Interest us within affordability and it's fine. You got to be rational in your thinning and understand this facts
Watch Dr Shabir Ally
Take care
sometimes i don't believe those so called scolars. i want to live my life in this basic principle, haram is haram & halal is halal. rich muslim country should think of helping muslim people around the world, introduce diffrent interest free products instead of investing trillions of dolars in American and european banks.
remember that american banks and european banks are all owned by the same people and that does not mean they came from those countries, most bankers are jewish zionist, people can't stand them all over
@@stacksflat7482 Most banks are publically traded companies owned by thousands of shareholders, pension funds, and mutual funds.
@@roberthannah7983 not at the central bank level
Yes open up our own bank
T C thank you bro me to it confused me
I fully appreciate and understand dilemma which is applicable to 85-90 % of the 1.8 billion Muslims. Overwhelming majority of them cannot own a car or a house or an Electrical Appliance by an outright purchase because what they earn every month is not sufficient to meet all ends. So you have rightly asked the question - what should they do ??. They work hard and earn a living but not enough to do outright purchase. Should they continue to suffer the pain and difficulties of not having their own house or a car or couple of electrical appliances and blame it on “ Qadar”. And they continue to be in deep financial trouble and uncertainty paying rent for house, car and everything forever and never owning it. This is hogwash and easier said than done. What about people ( and again vast majority of Muslims) who work in private sector and have no retirement benefits or pensions or social security. Should they just die or should they start begging at the age of 60 after retirement??
Hence, it is a matter of common sense that if I as an individual take a loan from an Institution which I am capable of paying back and within my means to buy a house or a car etc, it should be okay to take a loan and return the loan ASAP with some agreed interest or service charge or profit - choose your nomenclature. There is nothing wrong as I see it. And similarly, if during my working years the company and I pay every month towards provident fund and which I get it upon my retirement compounded with interest / service charge / profits - again choose your nomenclature. There is nothing wrong as I see it.
Most religious scholars have taken a very simplistic and literal meaning of RIBA. RIBA as I see it applies generally in two conditions 1) When you as an individual or body corporate become/ behave / indulge and do things as Loan Sharks to exploit a vulnerable and poor person to extend money and demand or device an action for demanding unreasonable sums 2) When you inherit a sum of money or after few years or work or profit , give up work, sit idle and deposit the money in bank to live off the interest on deposits. These for sure are Sinful.
The intention of your act is what decides whether it is Haram or not. Your act is defined by whether your intention is to Exploit a weakness , situation or vulnerability. What harm have I committed or whom have I exploited to take a certain amount of money to have my own house or car etc and return the loan with thanks and some interest / profit / service charges - use ur nomenclature u feel suitable.
And finally in most of the poor countries having large Muslim population, the so called Halal Investment is a huge scam to rip off of vulnerable sections of their savings. And the so called minuscule number Islamic Banks and Finances in most of the places where they exist have “service charges or shared profit charges” much more than normal mortgage or other interests charges paid to a normal bank. Is this not an EXPLOITATION of my belief, faith, weakness and vulnerability by the so called Islamic Banks.??? So how come it becomes Halal??
God Almighty is the Greatest in all Respects and HE for sure understands my Belief in Him , His Rahma, His Mercy, His Compassion and has full understanding of my situation, vulnerability and intention behind my act. So God Help all those who have genuine needs and guide them to what is right and good.
The damages caused by adhering to conventional banking and credit services is evidenced by the boom bust economy we have created since the start of the first nationalised bank in the 16th century. Not a decade passes without the collapse of an economic cycle in the west ( check The Economist on the history of the boom and bust) . The government gets to implement lifelong inflation rates WITH the aid of conventional banks and its practises. Student loans are non defaultable, car loan agreements are criminally one sided, liability is almost always dumped on the shoulders of the VULNERABLE. All appeals and arbitrations are handled by biased non moralistic courts. Even after this most people are uninformed about the little rights they and what they sign away. 2008 recession caused by excessive housing loans caused by the need to acquire excessive wealth fuelled by never ending greed which is unchecked by any moral standard.
None of us know if we can live till the end of the day let alone guarantee payback even if it is part of our base income.
All interest bearing loans share in the contribution of the RIBA economy. Economies fail but share of money never shifts from the wealthy to the poor. The whole system is corrupt, no transaction is exempt so the best you can do is do your best and avoid as much as you can .
Problem is today u r renting an apt or home , some one offers cash money to home owner and he gives u 90 days notice. Now best of luck finding a safe home for ur self and family, changing school, and finding new job.
Mashallah i benefitted alot from this sheikh he put my heart at ease about buying without interest
Specially buying a house without interested
"Islamic" Banking is 9 out of 10 times RIBA. Period.
No
yes
Plz watch imran hosein on prohibition of Reba intrest its mind opening you have word thanks
Send the link please
To some of the comments, HAVE MERCY ON YOUR BROTHERS. Ppl are asking these questions bco of difficulty not desire. Rent can easily be greater than $1500-2000USD a month for a brother with family of 4/5. Want to give your kids Islamic school education? Need gas, groceries, utilities, expenses are real. What happens when you are 65+ yrs old? No 401k bco haraam. No house bco haraam loans. Your kids who have their own families and responsibilities to take care of you and your wife. Ppl are aware of Allah and do not seek disobedience. Just looking for clarity to real life problems. So have mercy brothers and sisters.
Chen Zian exactly
Allah looks after the believers.
Choose the dunya or hereafter
WOW, MashAllah, the first idea that he gave about shares of a house and rents is very interesting. Insha'Allah I will try this with my friends in the future when we get proper jobs.
RIBA is a big problem for muslims and some solution needs to be found out. As for the solution of buying a house in sharing where there are many people involved and you pay the rent according to the share then its a good idea PROVIDED that if there is any damage to the house or needs repair then it is the responsibility of EVERYONE involved in the house not just the person living as according to my knowledge in a business transaction risk and profit/loss would go hand in hand.
If the other people involved are not sharing in the risk then its no different than taking loans from the bank which are usually much cheaper.
when u have family u can not really share with other people
Not sharing the house with the people to live. The ownership that you pay off with paying rent.
I agree with you brother
Yes.Profit and Loss both should share. When doing biz need to share risk
this is the same thing banks are doing and it is also riba. because the co owners decide the sale price before which is not according to market rate at the time of sale
Cash price and installment price should be the same, any increase is Riba. Idea for house is superb. However, for car example, I think the gentleman didnt understand Riba properly. Kindly listen to Sheikh Imran Hosein on Riba to get the right understanding.
What happen if someone default its monthly payment for 3 or even 6 months, or even make monthly partial payments?
As someone in this community was saying haram is haram, no matter how you define, in your heart still says it's interest.
Anyway, we have the term called darurah like the example given if there is only pork and you don't consume, it will cause death, than it is allowabled in Islam.
Similarly, in case of buying a house, if don't buy now you will never owned it b'cos 20 years later the house prices will increase and you may not have a chance to own one. This can be defined as darurah.
Despite darurah, you can only buy/own one property otherwise it is not darurah. if you intend to own another house (bigger) for any reason (bigger family), than you may want to sell the first house. You can't own 2 houses and call it a darurah, unless you have valid reason (2 wives hah?).
Having said, if have enough cash than the aforementioned is NOT applicabled.
Bullshit. U dont need to own a house. Christians and jews modified their religion to an extend that they were out of fold. Muslims r doing the same to Islam. Shame on u ppl.
If I pay 100.000.00 can I pay same amount back?(if you vona help me buy home or car etc..) If NOT then there is RIBA! Prophet s.a.w.s. said: Haram is known and Halal is known,betwen that is....you know the rest.
Its crazy, there are so many billionaire Muslims in the world and there is not 1 group that is helping the Muslim world buy a home?. Imagine the blessing of helping 1000s of families be free from riba. Greed is a sickness in the hearts
I am not muslim and this is on my mind also
I really like Jamal Badawi, he is a bit of a legend, but he is wrong, wrong, wrong about Riba and this is obvious because he did not train in economics, banking or finance (so he is not an expert in the core technical areas required). His solutions to avoiding interest do work but they are convoluted and are not practical for sufficient numbers of Muslims. He then justifies the use of necessity to allow mortgages - this is backsliding because renting is always an alternative option. The whole problem is that Badawi and company equate interest to Riba which is unjustified. Riba does not mean any increase over the principal (interest in other words) it means instead economic exploitation akin to loan sharking and similar predatory practices rather than heavily regulated bank and mortgage interest. The sub-prime mortgage scandal resulting in the crash of 2008 is a good example of usury/Riba in action due to the economic exploitation of people who were never likely to be in a position to afford a mortgage on a house - resulting in them losing the house and large sums of their money. However, for most bank interest and mortgage transactions these do not constitute Riba because the borrower is assessed according to their ability to repay the loan. This is known as ethical lending and conforms to the principles of Islamic law. One expert in the area of economics and Islamic Finance is Dr Mohammad Omar Farooq, the Wiki page on Riba covers all the various arguments concerning Riba as well as links to Dr Farooq's two seminal peer reviewed articles on this subject published in the literature in case anyone is interested.
Renting is not an option since you contribute to someone else paying RIBA with absolutely no stake in ownership, it probably is the only thing worse than getting a mortgage.
aos 19 when you rent, you are not responsible on how the owner bought the house, how do you even know that they don’t own it outright without any mortgage? If you apply that logic then even shopping for food could be considered riba since the store could have stocked the food they sell through a loan, lol
Loaning money without charging interest and borrowing without paying interest. Yep that works for me perfect. I will borrow money all day long and make money off it but I will not loan money. But if the other person thinks like me, why on earth would he loan me. Just like me he will invest in things to make himself more money. In a nutshell nobody will loan money and everybody wants to borrow. No one can borrow if no one is willing to depart with their hard earned money for awhile without getting anything back for it. In the class room no interest works but not in the real world.
it woukd be a beautiful thinh if we didn't pay interest but we are stuck in a Western world which in time will prove to be unsustainable.
House prices are rising so far that an attempt to save would be in vain abd even saving for a deposit is all most in vain
The greed in the world is the problem and i have no answer but wish i did.
Excellent.i also convinced on community based projects rather financing from islamic or conventional banks as result is da same.
@Psycnosis The difference is very clear that we are deceiving ourselves knowingly that it is a sin, but just to feel good and to justify we change the name or play a trick on ourselves. We should remember that poop will remain poop no metter how much colongne we spray on it, the original smell will never go away
I like your analogy bro (despite its already 9 years ago at the time of writing), a poop will remain a poop.
selling stuff is when you decide price of something and if someone wanna buy they buy.Even if the time passes the amount of money stays same. for example 1.000$ stays like 1.000$
But in interest you buy a house for 1.000$ by using credit.Then they give you time to return money and give them even more.So you pay 1.000$ and give them extra 200$ just because they gave you 1000$.That is interest.
SINCE you Bought house today with amount of money 1000$ for example.and it takes you 4 months to return 1200$ then you BOUGHT HOUSE with 1200$ and also earned sin.
Why not simply wait the time and buy same house with 1000$ instead of ''not been patient'' and lose even more?
and your house value increased with time much more than interest you paid
I think one has to look into the Quran and what is Riba. In the Quran Riba is when you borrow money and the one you borrow demands you to pay back double the amount. Or, in multiple, such as 2x, 3x 4, and so on. Why don't people just loot into the Quran and get guidance? Riba is when loan sharks are involved.
prohibition of riba (intrest) is 400 years ago Arstu described.
All religion r agaist riba main problem is ho much to obey religion
The whole tone of discussion is deceptive and dishonest. I’ll invent 25 excuses just not to call it riba. A spade is a spade, so call it a spade. And there is nothing wrong with riba if it is openly disclosed and mutually agreed upon. You are not working for free and neither is The bank .
Osman Carrim if a person is desperate it means he already asked the bank, the friends, and everybody he could’ve thought off, including this mysterious benefactor you are talking about. It means that the good Muslim person told him - No. otherwise he would’ve not be desperate, would he? However I have to agree , when it comes to some so called daily loans - it is criminal that they are allowed to operate. Especially the interests they are charging are outrages. On the other hand there are only few people who use them. The vast majority is using banks with no problems. So it is very irresponsible to accuse the entire society based on a cases of a very few desperate people, and that what makes this approach dishonest and deceptive. Because it drives the “we are better people then them” message into the heads of Gullible people.
I completely agree with you. It doesn’t make any logical sense to call it riba especially when your buying a house here in the U.S it may take anywhere from 15-30 years at least to save up to buy the cheapest house while in the meantime you blowing your money monthly on something you’ll never own (renting). To me renting sounds more like riba Because %100 of it is profit instead of the money the bank loans you which doesn’t exceed %5 profit (interest rate) Therefore your definitely making the rich richer and the poor (yourself) poorer which is the whole idea behind riba.
I agree, there are lots of modernist scholars who agree that interest in modern financial markets is not the prohibited riba from the time of the prophet.
@@roberthannah7983 what's the difference? Riba is riba
@@rustyray420 Big difference - if you are an illiterate debtor to a moneylender who takes your land and cattle and sells you and your family into slavery as in 6th century Arabia, after riba was doubled and redoubled. Pretty obvious why this social evil was prohibited. Historical context can explain a lot. Europe wasnt much better - debtors prisons, etc. until modern bankruptcy laws came along.
yes agree brother 100 percent well said
So in a nutshell, the job of a bank be nothing more than a safety deposit box for people. So lets go further. Where should money come from in the first place and who and by what measurement it should be produced/printed and where should that money be held and by whom and how can we access it to transact?
Remember whoever printed that money and wherever it is held, those people don't own that money so they can't loan it. If anything at all they can give it away. Even that is questionable because you can only give away something that actually belongs to you. So who's money is that printed money anyway? Huh?
Brother it is still the Riba buying a car on instalment you are paying more then the actual price of the Thing
Afaq Jabbar brother me to it confused me that why should I pay more if I don’t have the money and one sheikh said is halal but I still can’t accept
as salam alaiykum, brother can you tell me which companies in Toronto are doing this so I can stay clear of them?
lol
Mortgage is NOT RIBA, now renting is a complete waste of money!
anyone know how I can get access to the part where he says he will discuss fair rental value in the 'tapes'
Can you tell any company like this who gonna buy house for me and then I rent to own it. I have 800+ credit but don’t have 20% down. Thanks
there is no consession regarding riba, Quran strongly prohibited with strong words
This speaker is NOT intellectually honest, nor aware. Ribs is forbidden as it makes the wealthy wealthier & wealthier, the poor poorer. Being charged more if paying over time , is the same as paying interest. Period.
The wealthiest getting more of the money, is not sustainable. Currently, the 86 wealthiest people own 50% of the wealth in the world. Christianity & Judaism also forbid riba.
Mike Johnson true bro, you must have watched Imran Hosein :D
Those people (Gates, Buffet, Zukerberg, Bezos) got their wealth through entrepreneurship and business. No one got wealthy by letting their money sit in a bank!
There us rent option, if one shop around enough Time to they will find one we who will dilute the Evidence and correct Stand
The root of all chaos in the world is Raba banking system
The necessity makes absolutely no sense. Think about it, if you're broke or bankrupt and can't afford rent, what bank is willing to approve you for a mortgage? 😂
Your still be paying interest somebody will be making profit out of you.interst on food was wrong not investment
Interest is haram, period.
mashaallah brother very good initiative for the middle class persons. brother i have a question, is the dividend what the speaker spoke about is it the difference amount of value of share at the time of investment and the amount received on transfer at the fair market value? plz reply me. :) Jazakallahu Khairan.
ASSALAM o alaykum. Bro Write maa sha ALLAH like this. Jazak ALLAH
So let's say this I'm a store owner and I go out and buy goods for the store and then bring them to my store to sale. But charge an increased amount, this is permissible in Buying and Selling.
Then I go to the car auction and purchase 3 cars for $2500 each and sell them for &4000 each. Again buying and selling.
Or I honors and buy a house for $100,000 and sell it for $150,000 again buying and selling which is permissible.
The brother put so a many different aspects into it that made it seem like RIBA but if he kept it simple without all the share holders and the like then it's the same simplified.
So if my self and 4 people got together and bought houses fixed them and sold them or rented them and the profit was spilt would this be riba.
What we must do is stop looking for what's wrong and look for what's halal. So the ruling in Islam is, when it comes to Ibaadah. Everything is incorrect unless there's a text stating the how by Allah and His Messenger.
And everything outside of ibaadah is halal unless there's a text stating that it's haram. And buying and selling in Islam is what's recommended. And that includes trading. So finished to trade my car for a home to rent or even buy them that is permissible and the price is solely unto the two parties. If One agree to buy that home or car for stated price than who can say this is illegal. It between the buyer and the seller.
John Brown riba mean excess or addition on loans ( liquid assets). Not on solid assets . like if u give me 1 kg of bread on loan( do not sell on cash ) so u cant ask me for excessive return other than original amount coz bread is consumable product . on other hand If u give me your toaster on loan to use. u can ask me for rent of ur choice with the term that I couldn't pay u rent ill have to give ur toaster back and aren't eligible to ask anything else other than your toaster or replacement in case of damage.
Salaam Alaikum Yahyha
I am a muslim I live in Denmark and unlike most mulsims I am educated and I see NO diffrence in this...
lets say you buy a car for 100.000 USD and take a loan in the bank for it with a fixed interest. Lets just say that when you done paying for the car you paid a total of 150.000 USD, means 50.000 is interest.
Instead of that you let another muslim buy it for 100.000 and resell it to you for 150.000 that you have to pay in terms.... what is the diffrnce cept that the muslim take bigger risc?
Psycnosis lmao ur a moron “unlike most Muslims i am educated”
You are right, it is the same as interest. But the contract is sharia compliant because it uses a murabaha deferred mark-up contract. Would Allah really care about that? I think not!
It prevents the bankers from reselling the cumulative "derivatives" of all the customers at a reduced rate to the other banks with a future "hope" of making more money based on the contracts written up. Bankers then get greedy and offer subprime loans to customers who can't afford to repay them (by making the contract look more attractive/affordable) then bet against their mortgage using insurance to get payed should the customer be unable to pay back.
So the world burns and with every customer that has failed to pay the bankers have received insurance money (got paid) and they've also have been payed by the banks they originally sold the "packages" (contracts of all the mortgages at a reduced rate) to the banks years before any symptoms of failure appear.
The rules for avoidance of riba dictate you have to pay 1:1 money exchange at THE SAME TIME (not future payments). That is considered permissable.
Essentially having a thousand stakeholders in your property that you pay rent to over a period of time will prevent the disaster of giving money to devious bankers and thier money making schemes. This will prevent you enrolling in global catastrophe.
Fear Allah to recommend ribs
Don't rage war with Allah (,your hakam
@Munir ulhaq
What is the difference between legal marriage and illegal marriage... I think its a marriage certificate and witness just to make it halal without that marriage is invalid. I think islamic banks also using the same concept. ... please correct if im wrong.
There is no illegal marriage.
Ok now where is the different of if i by a house thru a bank and pay 10000+ or if someone buys it and sell it to me for more???????? I dont understand it!!!
Stop this madness
Trewq Podium lmao
musi husi that's trade which is halal. Obviously the guy will sell and reasonable market rate.
These days at 4 percent mortgage you end up paying about additional 150K on a 300K usd loan. Over period of 30 years.
because selling stuff is when you decide price of something and if someone wanna buy they buy.Even if the time passes the amount of money stays same. for example 1.000$ stays like 1.000$
But in interest you buy a house for 1.000$ by using credit.Then they give you time to return money and give them even more.So you pay 1.000$ and give them extra 200$ just because they gave you 1000$.That is interest.
SINCE you Bought house today with amount of money 1000$ for example.and it takes you 4 months to return 1200$ then you BOUGHT HOUSE with 1200$ and also earned sin.
Why not simply wait the time and buy same house with 1000$ instead of ''not been patient'' and lose even more?
@@azafar6493 and the value of that house may goes up to 1 million in over 30 years
rent a car rent a bike rent a house same as rent a money??????
rent and get more poor 🤣🤣🤣
I’m glad interest isn’t haram in my interpretation.
There is not doubt in riba being haraam regardless of your interpretation. May Allah guide you
Well then you are a deluded and enslaved to your desires instead of Allah.
Reselling the car to you with a higher price than the cash price is called Riba from the backdoor...
I don't get Muslims, please tell us a viable solution to interest, if I buy a house and can't pay the bank takes the house so how am I in debt over my head? How is this riba? If I'm renting and loose my job I'm homeless and most rent increase each year for the same apartment, if renting for 30 years you will pay more than most mortages with nothing to show for it. How is this a better solution? . So I don't see how renting is a better solution. If I loose my job I can at least try to sell my house.
Many masjid were purchased with bank loans not in cash, so please we need Muslims helping Muslims purchase homes and cars without interest, I don't see any other solution that make sense especially if you live in the US. Everyone says harm but do not offer any solution.
So Muslims should not get an educa6tiin, have homes or cars, walk everywhere . And work at minimum wage case we can't pay for medical school engineering school etc.
1. We do NOT need university to study. There are many other options. E.g. I'm an accountant. There are accounting courses that cost £3000 a year - no need for a loan. 2. We don't need a loan for a car, people just get them for expensive cars. My car was only £2000 and I saved a year for it. 3. We can save up for houses. I'm saving 50% of my salary for my first house because I've stopped wasting money on useless things. There's always a way, but this video explains that we need the help of others.
Vakas Shah if you have to save for the car...imagine the OPPORTUNITY COST you had! You could have used the money you are saving to invest or build a better home. Instead you are saddled with the savings for the car. And if you use a loan to buy a car, you could have used the car to drive for Uber! You could have used your earnings from the car to pay the loan instalment, and at the end you could pay off the loan!
Think about it....if you have no use for interest, your life will be very hard.
plz no one hear ask your opinion plz don't waste your time typing bigotry as i have seen u before in Muslim and non Muslims videos always typing against Islam and giving your opinion on things that u have no knowledge off
adeel abbasi lame. This is called discussions about Islam. Some Islamic ideals are good, some are plain bad. Take heed, and decide which is good and which is bad!
What is the difference in what the people in Toronto are doing? Instead of taking interest from an american, you are taking interest from a muslim, you are just not calling it interest. It doesnt mean that it is not interest, Its actually worse because your are being a hypocrite, by commiting a major sin,and trying to act ignorant that "Its not Riba"Any idiot can tell that paying a person more than actual retail price over a periodof time, is Riba,and you ant change price as time goesitsinterest
bobjones3210 what if you ordered have property of riba while did not know! ?
I want to know it's not allowed Muslim look loan's???
Not true
Isn't that still riba??
Riba applies only in Muslim Country , I do not care what everybody said , only Ibn Taymiyah went against the all Imam , apart from that none of the 4 school of thought forbids Riba in non muslim country.
Saleem
@Saleem What is your basis for this? I'm sorry but it makes absolutely no sense. Is wine also only prohibited in Muslim countries? Riba is riba wherever you are, Muslim or non-Muslim countries, and it's Haram.
No knowledge? Just like that? typing against islam and muslim? At least argue with me with proof, my brother.
HOW CAN WE BUY A CAR WITHOUT RIBA? I DIDN'T UNDERSTAND
Buy used one till you save good amount of money and then buy the luxury car
Live within your means. Ride a bike, bus, ride share, or etc. borrow from family and friends for no riba.
abdi but you will lose the amount of utility you will get from it before you saved completely! Imagine, if you can use that car to drive for Uber......how much would you have earned from Uber when you used interest to borrow money to buy the car and drive it and slowly pay in installments? You would have paid back the whole loan when you drive for Uber because you are using the car for a productive use! But if you save for the car......You would be poor for a LONG time before you get the car!
@@bunnystrasse Good comment - too bad more people here do not understand utility and time value.
@@bunnystrasse is being able to drive for uber more important or obeying the commend of Allah and his Rasool saw? All that extra money you pay in interest for a car that will require much more money in maintenance because of driving around all day. Is it worth your akhira? They are other ways to make money
this is not true..
I will keep this short and sweet.
You have $50,000 that you have worked hard for years and years and then saved it. Would you be willing to lose it for 10 years and then at the end of that time find it?
Now loan me your money and I will give it back to you in 10 years.
Thank you Prophet Muhammad.
I will be more clever. I will never loan money but I will always borrow, meaning I will use other people's money to make money. That is my kind of prophet. If I can find enough suckers to fall for it.
Exactly. Interest is useful for that kind of purpose! Interest is simply the cost of borrowing someone’s resources!
@@bunnystrasse true
This dunya is NOT for muslims so clearly riba is prohibited.its very simple formula. Most of the thing are not nesesiti.
That won't work muslim are not united.
Look how weak people are, can't even live without interest, it shows your weak Imaan and you don't fear Allah. No Riba means no riba, stop moaning and go struggle for the sake of Allah, if you don't find sweetness struggling for your lord then you're not right. You are weak.
xDwelleR - unfortunately, interest is not the same as Riba. This is the problem. Riba means economic exploitation not any increase over the principal. Your definition is from Al-Jassus more than 1000 years ago.
Riba is basically Usury, shut up.
xDwelleR - you didn't read my comment properly, I said Riba is usury. But usury/Riba is not interest. Go away and read Dr Mohammad Omar Farooq's peer reviewed publications in the literature via the Wiki Riba page before commenting. You might like also try improving your Adab (Islamic manners) as well while you're at it!
Bro jamal
Your chatting nonsense
Please join us in the real world
If you gave 150.000. Dollars to muslims
They would abscond and move to hawiia
Plz stop being so trusting & join us in the real world.
No offence
+Omer Fazal and what is it ?
You dont need to buy car and home on riba. Period.