ASN, ASN2, ASN3, ASG, ASB, ASW2020, ASM, ASD, AS1M, AMANAH SAHAM NASIONAL BERHAD V5
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 Mar 13 2014, 04:51 PM
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#1
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Senior Member
1,505 posts Joined: Dec 2006 From: Subang Jaya, Selangor  
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QUOTE(Nursh @ Mar 13 2014, 04:41 PM) Should i cancel the contract/agreement?or shall i continue but donate whole the money to charity after 25 years and keep my capital (RM89700 or RM50000?)bcuz it's my right ? It really up to you. If you cannot live with it knowing that it is a riba, then cancel it. But normally you will have to pay penalty etc. |
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Mar 13 2014, 05:14 PM
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#2
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Senior Member
1,505 posts Joined: Dec 2006 From: Subang Jaya, Selangor
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QUOTE(Nursh @ Mar 13 2014, 05:06 PM) Maybe it 'sabout getting in Hell for eternity for those who received/gives out Riba,while corruption don't? I'am not sure about corruption though maybe because it doesn't affects most of the people,but only the people who are corrupting. Errr... People who take and give bribes (corruption) will also go to Hell. There's a hadith about this.So it means that i borrow RM50 000 from RHB and invest in ASB ,every year i get 8%+ dividen.So every month i have to pay RM299 accumulated until RM89 700,so the extra RM39 700 is the interest rate right?isn't that illegal in the islamic law?u pay more than u should.  Anyway, I believe that whether it is a small matter or a big matter, it shouldn't be taken lightly if there is a clear directive about it in Islam. But, back to the loan question, yes the rm39700 is the interest rate and it is illegal in Islamic Law. However, if you make islamic loan for rm50k for 25 years, I assure you that you will pay more than rm89700 over 25 years because of higher profit rate (read: interest rate) than conventional loans. My point is, whether your loan is conventional or islamic, you still have to pay more than what you borrowed. The only difference is that the islamic law is structured in such a way that it is permissible in islamic law of transaction. This post has been edited by Nidz: Mar 13 2014, 05:16 PM |
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