Islamic banks takes a fixed payment for late fee. Not as % like conventional banks. So is that riba? Also Islamic bank takes fixed monthly and annual fee ( of 1 time ) which is basically their income/ service charge for the card. So does it qualify for being halal?
The halal method would be to give a loan without interest and a contract along with it whereby the house purchaser pays an agreed amount for rent, so two parts to the agreed repayment, if the loan repayment is not able to be paid then the rent would still be applicable, however the amounts would be much less than todays rent and mortgage payments because it is due to riba/interest that payments are so high, due to the over printing of false paper money the value the money does not exist, you need more of to buy the same thing as someone who would have needed less of the money to a product in the past,
Islamic banks takes a fixed payment for late fee. Not as % like conventional banks. So is that riba? Also Islamic bank takes fixed monthly and annual fee ( of 1 time ) which is basically their income/ service charge for the card. So does it qualify for being halal?
did you got an answer for this please tell me
The halal method would be to give a loan without interest and a contract along with it whereby the house purchaser pays an agreed amount for rent, so two parts to the agreed repayment, if the loan repayment is not able to be paid then the rent would still be applicable, however the amounts would be much less than todays rent and mortgage payments because it is due to riba/interest that payments are so high, due to the over printing of false paper money the value the money does not exist, you need more of to buy the same thing as someone who would have needed less of the money to a product in the past,
Corruption of money, this does not happen when things that have intrinsic value is used as money
Assalamualikum there is mo islamic bank india......
Online Web site amazon Flipkart etc.. some time purchaseing time selected bank debit card offers . That offer use halal or haram ???