Topic

Modern Money

Interest, mortgages, investing, crypto, insurance and gambling. Short, honest answers for new Muslims.

Should I pay off my mortgage early as a Muslim?

Yes, in most cases. Getting out of interest and debt early is encouraged, but keep an emergency fund and check early repayment charges first.

Yes, according to most scholars. Paying in is compulsory, and receiving benefits is taking what the law entitles you to. Ask a scholar if unsure.

Not usually; most scholars advise against it. A casino is built on gambling and your money supports it. Avoid it unless you truly have no choice.

Yes, joining a lottery syndicate or office pool is haram. Pooling money is still gambling, so decline politely and offer another way to join in.

Yes, a debit card is generally halal. You spend your own money, so there is no loan or interest; just avoid overdraft charges and haram purchases.

Yes, a conventional car loan with interest is haram according to most scholars. Halal options include saving, a used car and Islamic car finance.

Yes, a conventional business loan with interest is haram for most scholars. Halal options include Islamic finance and profit-sharing partners.

It depends on the contract. True 0% instalments can be halal, but watch penalty interest, deferred interest and hidden fees in the small print.

Yes, most scholars allow a regular current account out of need, if you avoid interest and overdrafts. An Islamic bank is a good choice if available.

It depends on the ETF. Regular ETFs hold banks and haram firms, but Shariah-screened ETFs are accepted by most scholars, with income purified.

Yes, writing essays for other students to submit is haram: it's cheating, and the income isn't halal. Tutoring and allowed proofreading are fine.

Yes, selling your own lecture notes is generally halal, if your university allows it and you never sell slides, exam answers or essays.