Questions Questions › Category: Money MattersFilter:AllOpenResolvedClosedUnansweredSort byViewsAnswersVotesBanking in CanadaOpenMohamed Moussa asked 5 years ago • Money Matters1026 views0 answers0 votesBanking in CanadaOpenMohamed Moussa asked 5 years ago • Money Matters1081 views0 answers0 votesinheritanceOpenRosh Dimed asked 5 years ago • Money Matters1168 views0 answers0 votesRaffles considered haraam?Openحسن asked 5 years ago • Money Matters1016 views0 answers0 votesAssalam Alaikum Worahmatullahi Wobarakayuhu, We are muslims from Ethiopia. The government of the country budgeted a fund that is aimed at supporting unemployed youths organized under micro businesses. The fund is arranged to be managed by the agricultural and industrial bank owned by the government. The bank leases the money for the micro businesses through buying the machinery that the micro business proposes in the business plan. The bank do not request any collateral as the government planed this to support the youths that lack such capacity and the machinery bought is taken to serve that purpose. But the bank leases the money through incurring an interest rate of 9% on the unpaid principal up to the time it will fully be paid. We have selected and developed a business plan that can pay back the lease within a maximum of two years, Inshaallah. What does the sharia say? Is it permissible? Jazakallah for your advice.OpenKamil asked 5 years ago • Money Matters1068 views0 answers0 votesDonateOpenNowroz Mahmuda asked 5 years ago • Money Matters1350 views0 answers0 votesearning-halal-or-haramOpenMohammad Iqbal Mirza asked 5 years ago • Money Matters1206 views0 answers0 votes
