tag:blogger.com,1999:blog-19500355.post695979566636690099..comments2024-03-21T11:52:41.971+00:00Comments on Islamic Revival: The Shariah rule on receiving ‘cashback’ from electronic wallets or payment walletsAbualihttp://www.blogger.com/profile/06643744851892252884noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-19500355.post-8447975888436715162018-03-02T11:34:59.023+00:002018-03-02T11:34:59.023+00:00If cashback is received from the bank by using a c...If cashback is received from the bank by using a credit card for a specific transaction (for example for paying the gas station bill), would this also be considered as Riba? As the money that is payed for the bill is a credit that the bank "lends" to the credit card holder, so basically the bank says: "I'll lend you money (with no interest) and I pay you 1 % cashback, if you use the money for gas station bills"<br /><br />Wouldn't this be considered as a discount on the borrowed money, as if the credior would waive a part of the borrowed money?<br /><br />Just in theory, despite the discussion whether credit cards are allowed or not.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19500355.post-73102833562716903142017-07-18T22:43:57.073+00:002017-07-18T22:43:57.073+00:00Assalaamu alaykum waRahmatuallah Sheikh.
I hope y...Assalaamu alaykum waRahmatuallah Sheikh. <br />I hope you are in good health and may Allah reward you for taking the time in responding and help us in understanding, aameen. <br /><br />In the UK and probably in the West there exists a particular type of cashback which I'll explain. <br />A person signs up with a cashback party which exist in a form of a website, such as Topcashback or Quidco, and through their website a person accesses merchants. These merchants sell goods and services and the individuals purchases these goods or services via the cashback party ie their website. The cashback party gives the buyer money back for transactions that have taken place through them - this cashback amount is known in the beginning. <br /><br />In reality the contract is between the buyer and the seller. The cashback party appears to be as a broker who gets paid by the seller for business. This brokerage is then shared with the buyer. <br />My question is the permissibility of the cashback received from the cashback party for a transaction with the seller. It seems to me as if this is two contracts within one transaction which is haraam but need further clarity on the matter. <br /><br />JazakAllah khair for your response in advance and May Allah make us witness the khilafah in our lifetime, aameen. <br /><br />Brother Bilal Anonymoushttps://www.blogger.com/profile/10203953681054370054noreply@blogger.comtag:blogger.com,1999:blog-19500355.post-55175370119290026642017-07-17T01:36:22.818+00:002017-07-17T01:36:22.818+00:00Is the second case same as the case in which one r...Is the second case same as the case in which one receives reward points from the bank for transactions? Is this also Riba?Anonymousnoreply@blogger.com