[Imalaycle]

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[hasasnn2345tv]

Brothers and Sisters in Islam,

I have been in the government service for over a decade now and unknowingly I have been engaging in RIBA since then. I thought RIBA would only apply to receiving it and NOT paying it. Here are the problems I am facing after reading the articles I searched on GOOGLES about riba and hence I was so shocked to know I am actually engaging in it.

1. As a government employee upon assuming office you are automatically a member of the Government Service Insurance System and other forms of compulsory membership. Each month the government would deduct some amount as your contribution. You are entitled to make LOANS out of that money taken from you BUT you are charged an interest payable in 3, 6 or more years depending on the type of loans you made. Recently out of necessity, I made a loan which is payable in 6 years.

2. It is customary for people regardless of religion to make loans from other lending institution and interest on these loans may vary from 8% to 30% per annum. Aside from that it is automatically assumed you are insured with them paying a certain amount each month. All payments made to them are automatically deducted from your payroll.

After searching the topic on RIBA, I am totally in state of shocked!

You should try your utmost to free yourself of the burden of that loan you took out and pay it off as soon as possible. You should also try to look for an alternate source of income where there is no mandated insurance that deducts money from your salary or try to get an exception from your employers. If by insurance, you're talking about mandatory retirement plan payments that may be ubiquitous in your country, then and only then does it become permissible. For example, in Canada we have the RRSP (registered retirement savings plan), where if you are legally employed, some of your money has to contribute to it. Read more about the exact details in this thread: http://www.sunniforum.com/forum/show...-RRSP-s-halaal

The same thought process is used when it comes to mandatory car insurance.

Are you talking about banks and credit unions in your second point? If so, it is not permissible to have an account that charges a fee for storing money nor is it permissible to take out a loan from these institutions.

[Imalaycle]

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