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Muslim Link is Ottawa Muslims' Online Community Newspaper. The site includes an up-to-date Events Listing and Business and Community Directory for Ottawa Muslims.
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  • Displaying items by tag: Riba
Iana Financial Revives the Tradition of the Benevolent Loan
15
August
2018

Iana Financial Revives the Tradition of the Benevolent Loan

Published in Islamic Finance

It's not often that God and financial services are mentioned together in one sentence but Iana Financial's mission statement is an exception: "Towards God-centred community financial services, for the common good." Since 2009, the Edmonton, Alberta based organization has provided interest-free loans across Canada and the world to relieve people of the burden of usury and to help them pursue their goals.

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This is Part 1 of a series on Riba in Islam.  Part 2 will discuss the practical implications as well as alternatives for Muslims living in Canada today.
15
April
2018

What's wrong with interest?

Published in Islamic Finance

Of all the things that observant Muslims try to avoid, interest is the most challenging. It seems impossible to get by in today's world without it. How do you finance your education, buy a home, start a business or get out of a jam when you can't borrow money with interest? What does Islam say about it? Is all interest bad? What is interest for? How does it work? What does it do to people and society?

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