Are Bonds Haram? Quick Facts

are bonds haram

Yes, Bonds are considered haram. According to Islamic scholars, engaging in the buying, selling, or trading of prize bonds within a business context is considered haram. Are bonds haram? This is a question that has been debated amongst many in the financial world. Bonds are essentially loans made by individuals or institutions to companies or … Read more

Is Health Insurance Haram? Quick Facts

is health insurance haram

Yes, Health insurance is considered Haram. According to Islamic law, health insurance is haram. However, there are two exceptions to this rule: when a person is forced to obtain insurance, in which case the sin is on the one who is forcing them, or when a person is in great need of health insurance and … Read more

Is Trading 212 Halal or Haram?

Is trading 212 halal

Is trading 212 halal? It’s no secret that the world of finance can be a murky one. For Muslims, who are required to follow Shariah law, this can pose a problem. Many financial products and services are simply not permissible under Islam. This is where Trading 212 comes in. Trading 212 is a UK-based online … Read more

Are Credit Cards Haram or Halal?

are credit cards haram

Yes, Credit cards are haram as the bank charges interest on the money lent to the user. This interest includes the annual subscription fee and other charges that must be paid even if the user pays on time. It is considered riba and is prohibited in Islam. The user is also obligated to pay interest … Read more

Are NFTs Haram? Quick Facts 2023

are nfts haram

NFT is partially halal. If the NFT represents something that is halal, such as a piece of artwork, then it may be considered halal. However, if the NFT represents something that is haram, such as gambling, then it would be considered haram. Are NFTs haram? NFTs, or non-fungible tokens, have been getting a lot of … Read more

Is 401k Halal or Haram?

is 401k halal

No, 401k is not considered halal. Islamic scholars have concluded that 401k is not considered halal. In the context of Islamic finance, the term “halal” denotes actions or products that are permissible according to Islamic law. This encompasses investments that do not involve interest (riba), gambling (maysir), or speculative practices (gharar). Is 401k halal? There … Read more

Is Roth IRA Haram?

is roth IRA haram

Is roth IRA haram? The Roth IRA is a retirement savings account that allows you to invest after-tax dollars. This means that you will not be able to deduct your contributions from your taxes, but all of the money in the account can grow tax-free. When you reach retirement age, you can withdraw the money … Read more

Is Real Estate Haram?

is real estate haram

Is real estate haram? When it comes to real estate, the question of whether or not it is haram – forbidden by Islam – is a common one. After all, real estate can be a huge financial investment, and many people want to know if they can do so without violating their faith. Read the … Read more

Is CFD Trading Halal or Haram?

Is CFD Trading Halal

Is CFD Trading halal? This is a question that many Muslims grapple with, as Islam prohibits gambling. But what exactly is CFD trading, and is it considered gambling? In this blog I briefly explain what CFD training is and speak about whether CFD trading is halal or haram. So make sure to read till the … Read more

Is Leverage Trading Halal? Quick Facts 2023

Is Leverage Trading Halal

No, Leverage Trading is note halal, because Leverage trading refers to using borrowed funds to amplify potential returns in financial trading. In Islamic finance, there is a principle called “riba” which prohibits the charging or paying of interest. Is leverage trading halal? As most of us are aware, Islamic law has strict rules and regulations … Read more