Bashaoor Pakistan
Ulema of Jamia Binoori Town Karachi has Issued Fatwa Against Prime Minister Youth Loan Scheme as Haraam by Pakistani Ulema, as it is based upon interest (Sood or Riba), which is strictly prohibited in Islam by all means.
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But the fact is interest is haram in Islam in any type.
can you please illustrate how the interest is calculated @8% for 7 years, Rs 16000 interest ?
@farrukh
16000 is nt a fixed interest for 7 yrs on 20,00,000 in every month,it gradually decrese because interest is on remaining principle amount and this principle amount is going to be nill at the end of 7th yr
Allah ki Lanat on majossi madood nawaz shariff and his daughter.
Allah kind lanat on all Pakistani hauls mardood political parties, Allah tabah ka inn satano ko ameen.