THE LOW DOWN ON BORROWING AND LENDING What Everyone Should Know A loan is a loss on paper. The lender has no access to that money until it is repaid. Yet there are times when we need to borrow and others when we are in a position to lend. In fact, the Prophet (peace…
Stuck between a Rock and Hard Place Confused.com …about Mortgages, Insurance and Banking The Dangers of Riba Riba literally means increase. Known widely as ‘interest’ and ‘usury’, it is the charge levied for ‘using’ money. In other words, it is where one party makes a profit through lending to another party. It is the increase…
RIBA – Worse Than Any Other Vice Neither Wrong Nor Be Wronged What is riba? How bad is it? Why did Allah Almighty ban it? Finance is so complicated now. Aren’t times different now from then. Do the ayahs on riba still apply today? At the time the Qur’an was revealed, an atmosphere of greed and…