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Riba, mortgages and loans
31 segments in 7 recordings · 2017 to 2021 · 0 verified · 16 checked positions · fiqh/finance/riba-and-mortgages · Feed
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Click a year to jump to itLatest answer · 29 Jan 2021
29 Jan 2021MindTrap with Mufti Abu Layth
LatestIs a mortgage riba?
The guest says a mortgage is not riba because the bank acts as an agent buying a specific house and then sells it on in instalments; riba is only a free loan repaid with extra.
machine7 min 51 s25:59on YouTube
Earlier answers · 30 · newest first
2021 · 4
29 Jan 2021MindTrap with Mufti Abu Layth
Isn't calling a mortgage agency just a loophole for interest?
The guest says the loophole charge is backwards: what counts is what is technically happening, and a bank that also gives loans can still offer a permissible mortgage, as a pub also sells food.
machine2 min 40 s31:13on YouTube
29 Jan 2021MindTrap with Mufti Abu Layth
What happened when Shaykh Atabek wrote to Mufti Taqi Usmani about mortgages?
The guest says his respectful open letter to Mufti Taqi Usmani on mortgages got no reply, only an abusive reaction from students, which he does not think the mufti ordered.
machine5 min 45 s33:53on YouTube
29 Jan 2021MindTrap with Mufti Abu Layth
Could a senior scholar ever publicly change his fatwa on mortgages?
Mufti Abu Layth doubts the jurist could ever publicly accept the guest's view; the guest says almost no scholar is fully independent of politics, audience or salary.
machine7 min 11 s40:13on YouTube
5 Jan 2021Monday Nights with Mufti Abu Layth
Can I take a mortgage, and can I urinate standing up?
Bank interest is not the Quran's riba in his understanding, and urinating standing up is fine, with care over splashing.
machine3 min 42 s37:40on YouTube
2020 · 13
27 Oct 2020Monday Nights with Mufti Abu Layth
Is Sharia-compliant investing really different from normal investing?
Mufti Abu Layth says ethical investing is fine, but interest loopholes are absurd: bank interest is not Quranic riba and mortgages are permissible.
machine9 min 53 s1:00:41on YouTube
24 Aug 2020Monday Nights with Mufti Abu Layth
Why isn't bank interest riba?
Mufti Abu Layth holds that today's bank interest is not the riba the Quran addresses, arguing that the usual definition of riba as 'something extra' does not hold together.
machine6 min 37 s15:18on YouTube
10 Jul 2020MindTrap with Mufti Abu Layth
Why is lending money for profit considered wrong in Islam?
Mufti Abu Layth tests why profit on loans is a problem; the guest points to profit-sharing partnership as the alternative.
machine1 min 51 s1:24:20on YouTube
10 Jul 2020MindTrap with Mufti Abu Layth
Can the bank take my whole house if I default near the end of my mortgage?
Mufti Abu Layth says that, in UK practice, mortgage lenders are far more lenient with defaulters than landlords, and asks to discuss riba as a concept.
machine4 min 32 s1:26:11on YouTube
10 Jul 2020MindTrap with Mufti Abu Layth
Is it better to rent or to take a mortgage?
Mufti Abu Layth argues that, compared with renting, a mortgage is probably the better option, and presses the guest on what is wrong with riba as a concept.
machine5 min 10 s1:30:43on YouTube
10 Jul 2020MindTrap with Mufti Abu Layth
Is bank interest the same as the riba forbidden in the Quran?
Mufti Abu Layth holds that the riba of the Quran meant loan sharking, not modern banking; the guest says today's banks are loan sharks.
machine6 min 26 s1:35:53on YouTube
10 Jul 2020MindTrap with Mufti Abu Layth
Why might the Quran's ban on riba not apply to modern loans?
Mufti Abu Layth argues that Quranic riba belonged to a zero-sum economy and does not apply to modern loans; the guest describes its human cost.
machine4 min 34 s1:42:19on YouTube
10 Jul 2020MindTrap with Mufti Abu Layth
Does bank lending help society prosper?
Mufti Abu Layth argues that bank lending, by recycling the same money, is what has allowed modern societies to prosper; the guest warns of endless debt.
machine3 min 50 s1:46:53on YouTube
10 Jul 2020MindTrap with Mufti Abu Layth
Is investing as a partner better than lending at interest?
Mufti Abu Layth accepts partnership as a better model but says lending and investing both run on greed; the guest calls today's system worse than riba.
machine4 min 27 s1:50:43on YouTube
10 Jul 2020MindTrap with Mufti Abu Layth
Is it wrong to expect something back when you lend money?
Mufti Abu Layth says modern lending has safety nets that loan sharks lack, and that people being motivated by a return is nothing wrong.
machine3 min 54 s1:55:10on YouTube
10 Jul 2020MindTrap with Mufti Abu Layth
Are Islamic mortgages really different from normal mortgages?
Mufti Abu Layth calls Islamic mortgages a loophole that does the same thing as a conventional one at a higher price with an Islamic veneer.
machine6 min 22 s2:06:11on YouTube
10 Jul 2020MindTrap with Mufti Abu Layth
Is bank interest the riba that the Quran forbids?
Mufti Abu Layth's view: the riba of the Quran means loan sharking, not interest-based bank loans, though banks are not philanthropists.
machine3 min 11 s2:21:35on YouTube
28 Feb 2020From the Mind of a Mufti
Is it halal to buy bad loans and foreclose on people's homes?
Buying property as a business is permissible in his view, but exploiting people who cannot pay and evicting them is oppression he is against.
machine38 s30:52on YouTube
2017 · 13
19 Oct 2017video
Opening: riba as a complex, over-claimed and symbolic subject
Riba is a complex but over-claimed subject that has become symbolic in Islam. Mufti Abu Layth asks viewers to bear with a detailed explanation.
machine2 min 04 s0:00on YouTube
19 Oct 2017video
Why does Mufti Abu Layth say riba has become a symbol rather than something people understand?
Riba has become a symbol of Islam that many hold important without understanding it, because religion for many people is a matter of visible symbols. What people know is that Allah declared war on riba and destroys it while increasing charity.
machine3 min 27 s2:04on YouTube
19 Oct 2017video
What was the riba of the jahiliyyah that the Quran condemned?
Riba is spoken of as three kinds: riba al-jahiliyyah, riba al-fadl and riba al-nasi'a. The riba of the jahiliyyah was a tyrannical loan-shark practice of compounding debt enforced by killing, torture and enslavement.
machine3 min 45 s6:12on YouTube
19 Oct 2017video
What is riba al-fadl and what does the hadith on gold, silver, wheat, barley, dates and salt say?
The six-commodities hadith requires equal, hand-to-hand exchange and makes delay riba, even between different goods. Taken literally it would make credit impossible, so the scholars exempted gold and silver by a kind of consensus.
machine5 min9:16on YouTube
19 Oct 2017video
Does the Quran forbid every kind of excess when it forbids riba?
The definite article in 'Allah forbade riba' points to a specific known kind of riba, not every excess, since most excesses are not haram. Umar wished the Prophet had explained riba, and Ibn Abbas held there was no riba except in delay.
machine2 min 56 s14:16on YouTube
19 Oct 2017video
Did the scholars ever agree on what counts as riba?
There has never been clarity or agreement on what riba applies to: the Hanafi, Shafi'i and Maliki schools each defined its scope differently, and nobody calls a phone-for-phones swap riba. No scholar has given Mufti Abu Layth a satisfying explanation of why delay in barter is riba.
machine4 min 34 s17:12on YouTube
19 Oct 2017video
Are mortgages and bank loans the riba forbidden in the Quran?
Mortgages and bank loans are not the riba forbidden in the Quran, which addressed a tyrannical loan-shark culture. Today's borrower is the one giving more, not taking, and is protected by a legal framework of cooperation, debt management and bankruptcy.
machine7 min 59 s21:46on YouTube
19 Oct 2017video
How was the economy of the Prophet's time different from today's?
The Quranic prohibition came in an economy of finite gold, where wealth could only grow by taking it from others. Money, which Mufti Abu Layth calls humanity's greatest invented story, was later dematerialised into paper, changing everything.
machine7 min 14 s29:45on YouTube
19 Oct 2017video
How did Adam Smith and industrialisation change attitudes to greed and lending?
Adam Smith's idea of the pursuit of self-interest and the industrial-era promise of a better tomorrow changed a mindset in which greed was simply evil and nobody would lend. These are ingredients of the modern economy the Quran did not address.
machine4 min 40 s36:59on YouTube
19 Oct 2017video
How can a bank lend out more money than it has?
Banks lending out far more than they hold, though it can be abused, is what allows communities to flourish. Money today is created out of nothing, but spending it enriches others.
machine5 min 44 s42:32on YouTube
19 Oct 2017video
Why did the Quran declare war on riba?
The Quran declared war on riba because of the tyranny of a loan-shark culture in a world of finite money, which modern banking does not resemble. The only similarity is that more is repaid than taken, which banks explain by inflation and motivation.
machine4 min 22 s49:44on YouTube
19 Oct 2017video
Is an Islamic mortgage any different from a conventional mortgage?
Mortgages and bank loans today are not the riba the Quran condemns, in Mufti Abu Layth's understanding. Islamic mortgages are the same thing under another name, a loophole the Maliki school has never liked, as Umar said of the jizya renamed a gift.
machine4 min 57 s53:15on YouTube
19 Oct 2017video
Are student loans, car finance and mortgages haram?
Mortgages, student loans, car finance and other bank loans are not haram in Mufti Abu Layth's understanding, though nobody is obliged to take them. He encourages Muslims in the West to invest in property, while leaving renting or Islamic mortgages to personal choice.
machine3 min 25 s56:42on YouTube