The Office of the Supreme Leader

FAQ

    • Rules of Taqlīd
    • Rules Regarding the Authority of the Jurist Leader
    • Rules of Purity
    • Rules of Prayer
    • Rules of Fasting
    • I‘tikāf Rules
    • Rules of Khums
    • Rules of Zakat
    • Rules of Transactions
    • Business/Occupation
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    • Gifts
    • Silent Partnership
    • Mortgage / Pawning
    • Debt & Loan
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    • Bank Law
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      Bank Law

      To Make a Deposit to Get a Loan
      If one deposits money in the fund under the title of loan for a particular period, on the condition that the fund grants him loan, or if they lend him some money only after his depositing a certain amount of money with the fund, this condition amounts to ribā and is, therefore, ḥarām and invalid. However, the very loan deed is valid for both parties.

      Promise of Granting Banking Facilities
      If a bank promises to grant banking facilities to the holders of savings accounts, should they leave the money in their accounts untouched for, say, six months, as an incentive for customers to deposit their money in such accounts, there is no harm in such an promising nor in the bank’s granting banking facilities to depositors.

      On Which to Spend a Ribā-free Loan
      If a bank lends money to a person to be used for a certain purpose, the borrowed money becomes the property of the borrower but it is obligatory for him, as a matter of religious duty, to abide by the stipulated condition. However, if he spends it in another avenue, the transaction is valid.

      To Pay a Fee to a Bank     
      If, at the time of taking the loan, the payment made by the borrower to the bank is considered a fee in return for the administrative work like to write it in the book, documentation, and other expenses of the bank such as water and electricity bills and does not amount to interest paid on the loan, then there is no harm in paying the fee nor in receiving the fee/the loan.

      Mark-up for Delay in Installments
      To charge a mark-up for delay in paying installments is problematic.

      To Receive Interest from Non-Islamic Banks
      It is permissible to receive the interest from the banks of non-Islamic states, irrespective of whether the owners were among the People of the Book or polytheist, regardless of whether or not the depositor made it conditional that he be paid the interest.
    • Rules of Marriage and Divorce
    • Rules of Non-maḥrams (Looking, Hijab & Association)
    • Medical Rules
    • Miscellaneous
    • Rules of Eating & Drinking
    • Rules of Endowment and Ḥabs
    • Rules of Nadhr, Promise and Swear
    • Will and Funerals
    • Social and Cultural Issues
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