Riba
8 articles tagged “Riba”
Is a Savings Account Haram? (2026): Conventional vs Islamic Accounts in Pakistan
An interest-bearing savings account is riba and the profit must be given away; a Mudarabah account at an Islamic bank is a different contract. What the fatwas say, what to do with interest received, and how to switch.
Switching to Islamic Banking in Pakistan (2026): The 2028 Riba Deadline and You
The Constitution now says riba must be eliminated before 1 January 2028. Here is what the Federal Shariat Court judgment and SBP's conversion rules mean for a conventional bank customer, and how to move your accounts.
Is Easypaisa Loan Halal? (2026): Easypaisa and JazzCash Nano Loans Reviewed
Easypaisa easycash and JazzCash ReadyCash charge 5% a week on a cash loan, up to 40% over eight weeks. That is riba in the classical ruling, and a Banuri Town fatwa says so. The halal routes to small cash.
Is Bank Profit Halal in Islam? What Pakistani Savers Should Know (2026)
Profit from a valid Islamic bank account is halal per mainstream scholars: a share of real financing income with loss exposure. Conventional account interest is riba. The difference explained.
Is National Savings Halal? The Sarwa Islamic Accounts Question (2026)
Regular National Savings certificates pay interest, which scholars treat as riba. The Sarwa Islamic accounts are the compliant alternative, paying 11.10% to 11.52% as of July 2026, with caveats.
Is Credit Card Use Halal in Pakistan? (2026)
Carrying a balance on a conventional credit card is riba and clearly haram. Scholars differ on cards paid in full every month, and Pakistan now has Islamic card options. The positions, honestly.
Profit Rate vs Interest Rate: The Difference That Matters (and When It Doesn't)
Pakistani Islamic banks declare profit rates that look like interest rates and track the same policy environment. What genuinely differs, what doesn't, and why scholars still draw the line.
Are Islamic Banks in Pakistan Actually Islamic? An Honest Assessment (2026)
KIBOR-benchmarked pricing, rates that track the policy rate, and real contract differences the critics skip. A fair audit of Pakistani Islamic banking: what is genuinely different and what is not.