401 k is investing in stocks and bonds which increases through compound interest. Which part of this is halal?!! Compound interest is absolutely haram. Why is no scholars talking about 401k and compound interest??
I have a 401K account with my former employer. Back then, I didn't know it was haram. So, what are my options ? What should I do with that money ? I'm trying to fix this issue since dealing with Riba is an unforgivable sin.
That increase in not through compound interest - but through increase in valuation of the company stocks that was purchased. Assuming that the company itself is identified halal to invest in.
Bitcoin mining is clearly halal under Islamic law as it does not involve haram activities. Blockchain technology contains most of the Islamic requirements for a halal transaction such as the recording of all transactions and the availability of witnesses as blockchain is open, fair, and transparent. Allah Knows Best!
Alhumdulillah for this information
Masha Allah. Thank you
Brother can answer me if tsp retirement plan is halal or haram can u make video on it for Muslim federal employees Zazak ALLAH khairan
Is Roth IRA permissible? Please make a video on this matter. Jazak Allah khair
Yes because of the interest.
401 k is investing in stocks and bonds which increases through compound interest. Which part of this is halal?!! Compound interest is absolutely haram. Why is no scholars talking about 401k and compound interest??
ua-cam.com/video/slCwdSYd0TE/v-deo.html
I have a 401K account with my former employer. Back then, I didn't know it was haram. So, what are my options ? What should I do with that money ? I'm trying to fix this issue since dealing with Riba is an unforgivable sin.
@@CelestialTrailblazer الله سبحانه وتعالى loves dose that repent
That increase in not through compound interest - but through increase in valuation of the company stocks that was purchased.
Assuming that the company itself is identified halal to invest in.
@@essempio your understanding is not correct. 401k runs on an engine powered by compound interest. Just search for videos on 401k and compounding.
Bitcoin?
Yes
Huh?
Bitcoin mining is clearly halal under Islamic law as it does not involve haram activities. Blockchain technology contains most of the Islamic requirements for a halal transaction such as the recording of all transactions and the availability of witnesses as blockchain is open, fair, and transparent. Allah Knows Best!