1- No. On obligatory precaution basis.
2- Yes, in Non Muslim countries.
3- No. If the banks are owned 100% by Muslim individuals.
If the banks are partially or totally owned by government, then the money could be taken with the permission of Sayed, but not with the intention of loan.
4- Yes, you can
I would like to have the following clarifications with regards to it's permissibility in the Islamic context
I would like to have the following clarifications with regards to it's permissibility in the Islamic context
1) Is it permissible to invest in cryptocurrencies?
2) Can we invest in government bonds/trust funds in a Muslim or non Muslim country?
3) Can we invest in Fixed deposits or obtain loans from non Muslim banks?
4) Can we invest in venture capital schemes, whereby we invest in halaal businesses and then sell of our investment at a higher price at a later date?
I have followed up with regards to bitcoins and other crypto currency, some responses are sayings is permissible while other replies are not permissible. I would like to have further clarification
It all depends on two things
– Is it real or just a symbolic coin.
– Is it business or gambling
– Is it associated with RIBA or usury or not.
Scholars are given different answers to the above questions so the respond varies.