[SintoDinto]

I read this on multiple turkish sites.

 

[azc]

https://islamqa.org/hanafi/askimam/84171?_e_pi_=7,PAGE_ID10,5653922728

 

[M.I.A.]

Maybe you should ask if riba is allowed in Muslim countries.

I think Turkish banks in particular.. although I don't really have anything to go on other than Google.

How about non muslims in Muslim countries? Just the line of questioning I would follow.. although it's open to opposition.

I'm clueless as to differences in madhabs and probably keen to keep it that way.

The central bank's decision appeared to defy the Turkish president who earlier called interest rates a "tool of exploitation".

 

[azc]

Muslim banks are not free from riba whereas islamic banking system suggests to invest the deposited money in business and profit should be shared with customers as well.

 

[M.I.A.]

Muslim banks are not free from riba whereas islamic banking system suggests to invest the deposited money in business and profit should be shared with customers as well.

...but that's not the same as business shares or the stock market is it? That's more to do with company value rather than profit I would suppose.

 

[azc]

...but that's not the same as business shares or the stock market is it? That's more to do with company value rather than profit I would suppose.

it's profit which matters for account holder. Ratio of total amount of money and time is counted. Rest depends on bank how it divides the year for releasing the profit, it may be every month as well. Molana Maududi has written some good books on this topic.

- - - Updated - - -

I don't have knowledge of stock market or share business, is it similar or not, I don't know

 

[M.I.A.]

it's profit which matters for account holder. Ratio of total amount of money and time is counted. Rest depends on bank how it divides the year for releasing the profit, it may be every month as well. Molana Maududi has written some good books on this topic.

- - - Updated - - -

I don't have knowledge of stock market or share business, is it similar or not, I don't know

I don't know either, never been involved in shares.. although for someone who has a small amount to invest, or at least thinks he does.. it seems tempting sometimes.

Although I understand that the risks involved and share market itself require a lot of understanding before anyone even thinks about it.

Depends on what your into.

For those just starting off I would think that small trade is the best way to invest, buying cheap and selling cheap.. although it's hard to find original ideas, it's more a case of turning up at the right time.

At one time I found bulk headphones that were flashy and absurdly cheap, was going to sell them on Ebay.. because how often do people go through headphones? ...a lot if I am anything to go by.

But I was afraid of the consequences of business and what Allah swt would make of it, so decided against it.

Just depends on what sort of life your living i suppose.


The prices may have gone up but if it's the same then they sell at a 400% profit margin now.

 

[azc]

I don't know either, never been involved in shares.. although for someone who has a small amount to invest, or at least thinks he does.. it seems tempting sometimes.

Although I understand that the risks involved and share market itself require a lot of understanding before anyone even thinks about it.

Depends on what your into.

For those just starting off I would think that small trade is the best way to invest, buying cheap and selling cheap.. although it's hard to find original ideas, it's more a case of turning up at the right time.

At one time I found bulk headphones that were flashy and absurdly cheap, was going to sell them on Ebay.. because how often do people go through headphones? ...a lot if I am anything to go by.

But I was afraid of the consequences of business and what Allah swt would make of it, so decided against it.

Just depends on what sort of life your living i suppose.


The prices may have gone up but if it's the same then they sell at a 400% profit margin now.

in modern age halal earnings are taken very lightly. Invariably, people don't care of means of earnings whether halal or haram. Only money must come is the trend of the day.

May Allah :swt: reward you for sticking to halal and staying away from haram.

 

[M.I.A.]

in modern age halal earnings are taken very lightly. Invariably, people don't care of means of earnings whether halal or haram. Only money must come is the trend of the day.

May Allah :swt: reward you for sticking to halal and staying away from haram.

It doesn't quite work that way lol, also had a completely legitimate business for around 3 years.. it was amazingly hard.. great spot with lots of footfall.. but hardly got anything from it, alhamdullilah it was a learning experience.

..if it ain't what the people want then there is no convincing them.

It always takes the right management to get things done.. even if the product is the same.

..ain't that a contradiction.


All praise is due to Allah swt.