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Financial Transactions

The Importance of Business in Islam

Shaykh ʿAbdul-ʿAzīz Ibn Bāz highlights the significance of business in Islam, praising traders who follow Allah’s ﷻ commands. He notes that trade was a key livelihood of the Muhājirīn in Medina and relates the story of Saʿd ibn al-Rabīʿ al-Anṣārī and ʿAbd al-Raḥmān ibn ʿAwf as an example of Islamic brotherhood and commerce.

Ṣalaḥ al-Irānī May 14, 2023

Financial Transactions

What to Do with a House Bought with Usury?

A man builds a house using a usurious transaction and then repents. Shaykh Muḥammad Nāṣir al-Dīn al-Albānī explains that sincere repentance is required, and if possible, the person should donate the house’s value in charity to the poor. If this is not feasible, no further action is required.

Ṣalaḥ al-Irānī May 14, 2023

Financial Transactions

Is It Permissible to Work as a Cashier Selling Cigarettes?

A cashier working in a store where selling cigarettes is mandatory asks whether their income becomes unlawful and if they are sinful. Shaykh Ṣāliḥ ibn Fawzān al-Fawzān states that selling cigarettes is sinful and that one should only sell what is lawful.

Ṣalaḥ al-Irānī November 29, 2018

Financial Transactions

Selling Perfume to Women

A man from France asks if he is responsible for women who buy perfume and use it outside the home. Shaykh Salih al-Fawzan replies that the seller is not responsible. Women are accountable for their own actions, so the shop can sell to both men and women.

Ṣalaḥ al-Irānī November 24, 2018

Financial Transactions

Islamic Ruling on Bitcoin and Crypto

Shaykh Sulayman ar-Ruhayli explains the difference between electronic money and digital currencies, and discusses the main issues with cryptocurrencies like Bitcoin. He concludes that dealing with them is not allowed due to high risk, uncertainty, and lack of real value or government backing.

'Uthmān as-Sūdānī June 6, 2018

Financial Transactions

Is Taking a University Loan Allowed?

Shaykh Muhammad Bazmul explains that taking an interest-free loan for university study is allowed if you can openly practice Islam and stay safe. However, taking a loan with interest is not permissible, even for education, because dealing in interest is forbidden in Islam.

Nūr ad-Dīn an-Nīgerī January 15, 2018