Riba

63424

I buy crypto tokens for investment purpose. Some tokens offer rewards on allocating (staking) your tokens. The staked tokens get used for voting, and the company rewards you with more tokens. Is receiving tokens on the staked tokens considered Riba?

Sayyed Mohammad Al-Musawi, Sayyed Mohammad al-Musawi is originally from Iraq and heads up the World Ahlul Bayt Islamic League in London. Other than being involved in various humanitarian projects, he frequently responds to... Answered 2 years ago

If you mean that the company rewards you with more tokens if you do more business with them or vote for them or bring more customers, then this reward is allowed
for you. This is when the activities of the company is investing in lawful business only.

Wassalam.

61026

Government . Riba . Investment . Pensioner

Is any amount given on fixed time certificates issued by the government for senior citizens and pensioners be considered Riba according to Quran and Ahadees?

If the amount is been invested in lawful business away from unlawful business e.g. alcohol, pork, usury etc, then the income from it will be lawful. Such income can not be fixed by a percentage from the capital, but it must depend on the profit if any.

Fixed amounts given by non Muslims is allowed for the Muslim to receive and utilize in lawful needs and aims.

Wassalam.

50736

Muslims . Interest . Riba . Western Society

How can we function as true Muslims living in the West and prohibiting interest (Riba) while there are many financial contracts that include such interest?

We can not prohibit others in Western society from dealing with Riba, but we as Muslims are not allowed to deal with Riba.

The meaning of Riba is to be taken from the Marja' of Taqleed and not from the people.

Despite the fact that we live in a society which deals with Riba but we should not indulge ourselves in Riba as far as we can.

Wassalam.

47044

Pension . Riba . Bank

Is it permissible for a person to take pension from a riba based bank where he used to work in the past and from where he has voluntarily retired?

Abolfazl Sabouri, Abolfazl Sabouri is based in New Zealand and has an MA in Jurisprudence and Islamic Studies. He is a graduate of Elmiyeh seminary in Qom with more than 15 years of study and research where he has... Answered 3 years ago

It is permissible but he should pay its khoms.