Tuesday, 1 September 2026
Topic
8 articles tagged “Money”, drawn from every section of the archive.
Yes. Zakah is 2.5% of savings held for one lunar year that meet or exceed the nisab, which is the value of 85 grams of gold or 595 grams of silver.
It can be given to eligible relatives who are not your direct dependants — siblings, aunts, uncles, cousins. It cannot be given to those you are obliged to maintain: parents, grandparents, children and grandchildren.
Conventional interest-based mortgages are prohibited by the clear texts on riba. A minority of contemporary scholars permitted them under strict necessity where no alternative exists; the majority did not, and the availability of Islamic finance has narrowed that argument considerably.
Stocks are permissible if the underlying company’s business and finances meet the screening criteria. Cryptocurrency is genuinely disputed among contemporary scholars, with respected positions on both sides.
Roles that directly involve recording, witnessing or transacting interest are prohibited by the explicit hadith. Roles with no connection to interest-based transactions — security, cleaning, IT infrastructure — are viewed more leniently, though scholars differ.
Conventional commercial insurance is held impermissible by most contemporary fiqh councils due to gharar and riba. Takaful (cooperative insurance) is the permitted alternative, and legally mandated insurance is treated as a necessity.
Interest-bearing student loans fall under the prohibition of riba. Contemporary scholars differ over income-contingent systems where repayment functions more like a graduate tax, and some permit them under need.
Clearly defined capital, a profit share stated as a proportion rather than a fixed amount, loss borne in proportion to capital, and a lawful underlying business.
