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Subject: Riba/Intrest/Usury
Author: Ajam Ebrahim	[ Next Thread \| Previous Thread \| Next Message \| Previous Message ] Date Posted: 20:37:55 11/24/02 Sun Author Host/IP: NoHost/213.193.42.205 Is Riba/Intrest/Usury all the same thing if not what is the difference and is leasing or buying a house on mordgage allowed ? [ Next Thread \| Previous Thread \| Next Message \| Previous Message ]

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[> Subject: Re: Riba/Intrest/Usury

Author:
Laila Nasheeba
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Date Posted: 13:42:00 11/25/02 Mon
Author Host/IP: dhcp024-210-178-136.woh.rr.com/24.210.178.136

As Salaamu Alaikoum,

Riba is arabic word to detail Interest which is a form of usery.

The difference between renting and buying a home on interest is like apples and oranges.

When you buy a home with a mortgage you are paying a certain percentage of money more than what the cost of the house was back to the bank whom financed you.

When you lease or rent a home, you only pay whatever the person renting to you charges per month to live there.. they do not charge anything extra.

For more information on the meaning of what is interest, contact your local bank and they will be happy to sit down and explain it all to you.

AND ALLAH KNOWS BEST

Laila Nasheeba