Question:
Assalam o Alaykum,
Thanks for answering my question. I think I have not made my question clear to you. I wanted to ask, how to stay safe from these cheaters who are fooling us in the name of Islamic Banking, when we know that there is no concept of Profit in Lending in Islam, when they ask us to cut 6% profit on lending, means they are charging interest in disguise, but innocent Muslims don’t realize this. How shall we protect ourselves from this, specially our family members who are unknowingly involved in this kind of interest bearing loans from Islamic banks.
Answer:
wa `alaykum salam,
The Prophet (s) said:
Man ghashshanaa falaysa minnaa.
Who cheats us is not one of us! (Hadith)
Imam Senad Agic
Head Imam (IABNA)
The Islamic Association of Bosniaks in North America
American Islamic Center – Chicago
