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@simplymeandhe The interest rate on interest bearing loans is irrelevant. It’s all a grave sin. It doesn’t matter where you are in the world, your obligation is to not wage war with Allah and his messenger by dealing in riba. There are only 3 paths: 1) You invest in yourself so that your...

@simplymeandhe maybe for you, if that’s how good your comprehension skills are

@asyaphari You invest in yourself, in the form of skills to increase your income from employment, or you invest in a business that is operated by Muslims, or a business where you have a say over operations. There is no easy buy button to invest with for a Muslim that wants to stay clear from...

@ronnie223 Good luck trying to purify capital gains

@asyaphari It’s an arbitrary limit. Each scholarly body has their own definition of what constitutes insignificance. Many scholars believe that value is zero percent. I personally follow that view.

@leftydad Well I’m sorry for assuming your intention.

@leftydad Brother, I sense some underlying passive aggression. I am not trying to convince you of my stance, nor am I issuing fatwas as I am unqualified. I am merely relaying to you the fatwas of the most knowledgeable contemporary scholars (i.e. Ibn Uthaymeen and Al-Albani) Investing in a...

@milos The scholars I mention do not hold a minority opinion. Their opinion’s reflect the same stance held by classical scholars like Sheikh Al-Islam Ibn Taymiyaah and Sheikh Al-Islam Ibn Al Qayyim. They also reflect the opinions of the founders of the 4 mathhabs. There has been a...

@cautiouslittlehope I wasn’t talking about the FDIC cap, I was just misinformed about something, I thought that there was a legal mandate to save money in banks past a certain point of stacking cash. I don’t think it’s controversial amongst anyone in the industry that being an equity owner...

@milos Why do you assume my knowledge of fiqh is relevant? I am not giving you my fatwas. I am unqualified. I am relaying to you the fatwas of the most knowledgeable contemporary scholars like Sheikh Al-Albani and Ibn Uthaymeen. We are 2B in numbers but because we are complacent with the...

@cautiouslittlehope It depends on which country you live in. For Muslims in the U.S. you legally can’t stash money past a certain limit. I know it is the same in some gulf countries. The solution would be to stack gold, but you would need to figure out how much cash you would need liquid...

@berniceann There is equal isolation of risk with regards to the borrower in most developed economies if we're talking about corporate loans. Assuming a corporate entities' credit rating isn't in the gutter, collateral is minimal and an LLC ends up serving as a protective measure. The bank...

@leftydad Generally no company that has interest on its balance sheet. It isn't an obligation to invest in a publicly traded company, given the severity of the fact that Riba is worse than fornication by orders of magnitude, and is an act of having war waged upon you by Allah and his messenger...

@cautiouslittlehope I understand but I don’t think his opinion is right, and that there are definitely scholars who disagree with him. Just thinking logically, we are obligated by law to deposit our money in bank accounts. Waiving the interest payment because it’s the “feel-good” approach is...

@cautiouslittlehope That’s interesting, but I never knew Muslims waived their right to interest? It doesn’t make sense not to just collect it and go and donate it to some people in need instead of leaving it in the pockets of the bank? It’s not like there’s a possibility the interest will...

@annevdw54 Shariah compliance does not mean 0 riba, and each scholarly body has their own definition of what constitutes an acceptable amount of riba. Make no mistake, these scholarly bodies do not represent the overall scholarly consensus. The matter is an issue of dispute. "We have left out...

@philip1979 The only way a stock is halal is if it has 0 interest bearing obligations and interest income on its balance sheets. This isn’t controversial. Now there are some scholars that are of the belief that because almost all publicly traded companies engage in interest bearing...

@annevdw54 are you intentionally leaving out the stocks part of options 2? as my comment here indicates, almost all publicly traded stocks have interest on their balance sheet, and investing in them is an issue of dispute amongst scholars.

@annevdw54 1 and 3 are the options where you would be free of the grey zone of Islamic jurisprudential dispute.

@darlingdaughter The Problem With Interest - Tarek El Diwany