Advanced search
Visit
6386
Last Updated: 2016/12/27
Summary of question
A Pakistani government organization offers interest to their employee in exchange for some money the employee should invest, but with a term in which the probability of returning back their investments is small. Is it permissible to take such interest?
question
Salam. I am a government employee and the government organization offers interest based on incentive for its employee if they submit specific sum of money monthly. So, is this permitted or not? In its term and conditions, one clause says, in case of war your money will be used with no refund. So, can you please reply to my question with reliance on authentic references, if it is permitted or not? Wasalam.
Concise answer
According to some scholars, there would be no problem to take such interest if it is given under a valid legal contracts like Mudärabah (A contract, entered into by two persons on the condition that the stock or Rãs al-Mãl in trade shall belong to one of them, and the labor to another, and in case profit is accrued, it should be divided between both of them.  If the whole profit is stipulated to go to the proprietor (of the stock) it is called “Bida’ah, Hibah (donation) moawaddah (exchange contract), advocacy for business or Musharakat (partnership).    According to other scholars, it is an example of haram usury.
 
Appendix:  The grand maraja’ answer to this question is as follows: [1]
Grand Ayatollah Khamenei (May Allah grant him long life):  There is no problem in it if it is done under moawaddah contract or the like.  If you lend it, you are not allowed to take this interest.
Grand Ayatollah Safi Golpayegani (May Allah grant him long life):  It is impermissible to take interest if you stipulate a condition by which they have to pay back its interest.  If they themselves give you the interest there would be no problem to take it.
Grand Ayatollah Makarem Shirazi (May Allah grant him long life):  Given the supposition made in the questions, taking this interest is considered as haram.
Grand Ayatollah Makarem Shirazi (May Allah grant him long life):  It is considered as a haram act if it is not done under any kind of valid Islamic contracts like Mudarabah and the like.
 

[1] . This question has been sent to the office of grand Ayatollahs Khamenei, Safi Golpayegani, Makrarem Shirazi and Noori Hamedani (May Allah grant them long life) by IslamQuest Website.
Question translations in other languages
Comments
Number of comments 0
Please enter the value
Example : Yourname@YourDomane.ext
Please enter the value
Please enter the value

Thematic Category

Random questions

  • Why didn’t Allah miraculously prevent the killing of Imam Hussein (A.S.)?
    16391 The infallibles 2010/05/27
    Everything takes place under Allah's will and according to His traditions and the same way Allah had the power to prevent Prophet Ibrahim's blade from cutting he could have also disabled all of the enemies' weapons, and miraculously saved Imam Hussein, but such a miracle did not happen ...
  • Who is Zaid bin Haretha?
    8074 برخی صحابیان 2013/04/18
    When still a child, Zaid bin Haretha, accompanied by her mother (Sa’ada bint Tha’laba bin ‘Abd Âmer), was going to Tha’laba bin Âmer tribe, to visit his relatives. On the way to his destination, Zaid bin Haretha was attacked and his property was confiscated by Bani ...
  • What is the Islamic law about women going out with makeup?
    8744 Laws and Jurisprudence 2011/12/01
    Office of Grand Ayatollah Makarem Shirazi (may Allah grant him long life): There is no objection to women wearing light makeup on their faces and hands up to the wrists provided that it does not entail any evil or corruption but it is necessary for ...
  • Is it permissible to invest in non-Muslim countries?
    8607 Laws and Jurisprudence 2009/04/21
    In response to your inquiry, the grand Ayatullah Khamenei says: “Investing in the banks of countries with non-Islamic governments is permissible per se, given that it doesn’t strengthen them politically and economically such that they will use it against Muslims and Islam, and in ...
  • What is the meaning of the word "Allah"?
    15252 Traditional 2011/11/17
    The word "Allah" which is translated into God is a particular and the most comprehensive name of God. Hazrat Ali (a.s.) explaining the meaning of "Allah" said, "Allah means the worshipped one, by Whom people are bewildered, and to Whom they are submissive. Allah is ...
  • Can a woman have an extended relationship with others over the internet without her husband’s permission?
    8296 Laws and Jurisprudence 2012/04/19
    The following is the response of the maraji’ to your question: 1. Khamenei: If it doesn’t entail using his wealth/belongings [without his consent], there is no need for permission, but please do remember that it is impermissible to develop a relationship with a non-mahram which ...
  • Was the Fadak usurped before or after the burning of Lady Zahra’s home?
    9666 تاريخ بزرگان 2010/07/31
     This question doesn’t have a brief answer. Please click on the detailed answer. ...
  • What is the Mus’haf of Fatimah? Did the prophet and his household know about this book?
    14937 Traditional 2011/04/20
    The Mus’haf of Fatimah is the name of a book that was written by Imam Ali during Lady Fatimah's lifetime. The content of this book was communicated to Lady Fatimah through the special angel Gabriel. This book consists of future prophecies, the secrets of the Prophet's household and ...
  • Why is it permissible in Islam to marry female captives?
    9538 Philosophy of Religion and Law 2011/01/02
    Given that we have already dealt with the political and social aspects of slaveholding in our previous answers, here we will study two more issues concerning the subject matter: 1. The reason and philosophy behind the legality of conjugal relations with female captives 2. Why doesn’t this ...
  • How should one go about identifying the most learned Mujtahid, if the testimonies of the witnesses contradict each other?
    8354 Laws and Jurisprudence 2011/01/15
    All grand jurists have said in their edicts that there are three ways of identifying a Mujtahid, and the A'alam:First: when a person is certain that a particular person is a Mujtahid, or the most learned one. For this, he should be a ...

Popular