Student Loans With Interest Halal?

[Navy9]

Banks take people's properties all the time. For example, hey lend you money to buy a house in a 30 year loan, and you pay them back every month for 25 years, and if you are not able to pay them back anymore, they keep everything that you have paid them for the past 25 years which is already more than the amount they lent you and then they take the house back.

If someone makes one or two full payments a year in addition to his/her regular mortgage payment and if that payment is applied directly to the principle, that person can cut down the 30 years into almost half of the period if not lesser. In such way, interest cost considerably declines. Assuming this mortgage is the conventional mortgage of fixed interest rate!

[Talo alle udaa]

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May Allah forgive us wallahi Student Loans is clearly Riba.

Islam is about following you heart, forexample you take student loan and become doctor and help thousend of thousend needy people, if you did not take that loan then you will never become e doctor and would never help those needy people, intresst rate and 1400 years ago rippa system is not a same think as today , before 1400 years ago there were no BANK system which lend people money, it was indvidual who lended eachother money for fixed rippa like i give a loan 100 dollar , before i give you most agree you will pay be back 200 dollar, thats old rippa system which islam forbids, but taking from bank a loan and consideration of inflation and other costs which THE BANK have, if you then pay 2% or 6% interest rate that's legitimate business transaction.

foraxmple íf you think so called scholars, culumaa have all answers then your tottaly wrong. foraxmple i would ask you suaashaan??

can you pray salaadtul MAKHRIB and CISHAAA and subax wHILE ITS day ligth( qoraxda soo jeedo???

ma tukan kartaa salaaada makhrib, cishaha iyo subaxa qoraxdoo soo jeedo?

jawaab i sii then i would explaine how that you can pray iyadoo qoraxda soo jeedo SALAAD CISHO( MAAHA SALAAD QALO ah) waa salaad cisho waqtigeeda normalka ah laakiin qoraxda waa soo jeedaa.

Markii ficil la xukumayo laga hadli maayo markaas wixii kasoo bixi karo ee waxaa la is weydiin wuxu in uu banaan yahay in kale asliyan. Tusaale ahaan, qofbaa ku dhihi dukaan khamro lagu gado ayaan ka tijaaran, ha dhawna ilmo agoon ah ayaan guri ooga dhisi. La dhihi maayo maadama waxaa ka imaanaya ay faaiido ku jirto in la ogalaan ka ganacsiga khamriga. Islaamku wuxuu ku dhisan tahay Iimaan iyo Camal saalix ah, hadii la dhaho "islam is about following your heart" diinti waala fasaadin, munaafaq kastana sidaado kaley ayuu kuula imaan asagoo ku andacoonaya Ribada wa xalaal maadama diinta eey tahay waxaa qalbiga ku jira un, iwm.

[DR-YALAXOOW]

Markii ficil la xukumayo laga hadli maayo markaas wixii kasoo bixi karo ee waxaa la is weydiin wuxu in uu banaan yahay in kale asliyan. Tusaale ahaan, qofbaa ku dhihi dukaan khamro lagu gado ayaan ka tijaaran, ha dhawna ilmo agoon ah ayaan guri ooga dhisi. La dhihi maayo maadama waxaa ka imaanaya ay faaiido ku jirto in la ogalaan ka ganacsiga khamriga. Islaamku wuxuu ku dhisan tahay Iimaan iyo Camal saalix ah, hadii la dhaho "islam is about following your heart" diinti waala fasaadin, munaafaq kastana sidaado kaley ayuu kuula imaan asagoo ku andacoonaya Ribada wa xalaal maadama diinta eey tahay waxaa qalbiga ku jira un, iwm.

markii geel loo heeso waxaad u heestaa lo, adeeroow khamri inuu wax dhibaato weeyn u leh shacabka waa la og yahay, qamrigana xaaraan yahay, laakiin intresst rate modern economy isku mid maaha ribaddii xaraaanta laga dhigey.

sidaan kuu sheegay ribadda xaaraanta ah waa mida individuals ah waayo waqtigaa 1400 sano ka hor BANK system ma jirin, sidaa darteed laba oran karo intresst rate 4% ee BANKIGA u bixiyo expenseska qarashka bankiga lama oran karo waa RIBBO.

eeg 1400 years ago dadkii noolaaa CARUURTA ayey guursan jireen kama wado rasuulka scw ee guursadey gabar 6 jir, ee waxaan ka wadaaaa 1400 years ago was common culture to marry 6 years old child and have sex whit here 9, arrintaa normal ayey aheeyd 1400 years ago or even 200 years ago ama xitaa 100 years ago whole world child marrieg was normal think, but today is unexceptable.
its like that we live today different world than 1000 sano ka hor, marka intresst rate is different than rippa which islam was talking about 1400 years ago.

[BlackVelvet]

Avoiding Riba is essentially saving oneself from being ripped off, and living a life financial slaver.

Allah is our protector, and as long as we obey his laws we shall always be protected.

modern economics is based on interest rate,, foraxample to keep inflation in place, central bank have to have intresst rate system to keep economy of the country keep going. we have today papper money which did not existed 1400 years ago.

papper moneys needs interest rate to keep value of the money, its 20 cuntery, we are not anymore camel raiding 1400 years ago,, that world is gone long time, islam is about modernaty, and giving muslims the best economy in the world.

This is the issue. The whole system runs on interest rates and that is where the problem is centred. There was an article about this in today's Financial Times, the chief of the World Bank is suggesting that we find a new way of using gold as a reference point and it's clear that that is what we are going to need in the near future. Waa cajaaib it goes to show, Ilaahey didn't say riba is haram for no good reason, we've tried riba and it doesn't work. All we need is to find a halal alternative that can work long term.

And if there is any hope of that we need Muslim economists who will probably have to get into ten's of thousands of pounds worth of debt to cure the system, ironic isn't it

http://www.ft.com/cms/s/0/eda8f512-eaae ... z14rwXdGJd

[Executive]

^ True the problem is the whole system. No muslim country wants to listen to the muslim economists of today for political reasons. Our financial systems were mainly influenced by western countries during the colonial era. If you just look at somalia, before we had a government we had a banking system adopted by the Italians and British. Even the Central Bank was a former Italian Bank. And the Somali shilling is not Somali, it was issued by the British and adopted by our first government when it was established.

It would be interesting to see a new system and how it would work.

[BlackVelvet]

It would be completely unrecognisable. Lakin I don't think we really want to change, I saw a Muslim economist on Islam Channel once and he was saying how current Islamic banking is a farce because it's based on non-islamic fundamentals, so we're trying to create an 'Islamic version' of things that are in no way compatible with Islam. Shari'a in general today is a joke anyway implemented based on political point scoring and personal interest. It's funny actually, some of those 'Muslim' countries practise things like stoning and at the same time ask for interest on their international deposits. It's ridiculous .

[Executive]

^ yeah agree


DR Yalaxow aka DR Halaal,

You are the perfect consumers, the banks must love you. Why are you promoting their practices and the riba based system which your adopted country has suffered under especially in the early 1990s. Your tax money was used to bail out the banks and buy their bad debts.

I am surprised you as a Somali muslim support such system, while you have Swedish people creating their own community banks trying eliminate interest from their savings and loans. Just read what their views are on interest http://jak.aventus.nu/57.php?HIST=,968,22,

[Paddington Bear]

Bloody rascales were rioting yesterday!