The Obligation of Repaying The Debt.

Taking a loan (debt) is a form of mu'amalat (social and economic dealings) that is allowed by the Islamic Shari'ah to its adherents in facilitating their daily affairs. There are several conditions that have been stipulated by Muslim scholars upon the debtor and creditor so that such provision that is allowed in Islam does not get abused. Islam deems debt as a practice that is permissible when there arise genuine need and significance.....

Can You Invest with Borrowed Money?

I want to know whether it is permissible to borrow money for investments. Does Allah forbid us from buying goods or making investments (even if they are halal) using borrowed money, or does He stop us only from borrowing haram funds? Please, clarify the principle involved here, since I am unclear whether to borrow or not, for halal investments from halal sources?

Giving Charity or Repaying Debt?

I have a debt which I owe a relative. I have clear intention to pay it off and the relative trusts in me to pay it back whenever. During Ramadan, I wanted to do good and I pledged a big amount to a charity. I paid half that amount and will shortly pay the other half. Did I do something wrong that is against the teaching of the Prophet (peace and blessings be upon him)? Should I have instead paid my debt down? Should I use the second payment to pay my debt or should I fulfill my promise to the charity?

Who are The People Entitled to Receive Zakat?

Zakat is to be paid to the eight categories mentioned in the Saying of Allah: Which means: "Zakat expenditures are only for the poor and for the needy and for those employed to collect [zakat] and for bringing hearts together [for Islam] and for freeing captives [or slaves] and for those in debt and for the cause of Allah and for the [stranded] traveler - an obligation [imposed] by Allah . And Allah is Knowing and Wise." [Al-Quran, Surah At-Tawbah, verse 60]....

Zakat of a Debt

In terms of zakat on debt, the majority of the scholars distinguish it between two kinds of debt: 1. If the debt that you are owed is with wealthy people who can pay you your right when you request it, then you must pay its zakat,..