Miscellaneous Questions on Loans & Insurance

بِسۡمِ ٱللهِ ٱلرَّحۡمَـٰنِ ٱلرَّحِيمِ

The following is by Shaykh Nur ad-Din Abu ‘Ubadah ‘Ali ibn Juma’ah.  The following are the answers to miscellaneous questions. 

My company takes money away from my salary to give me compulsory life and medical insurance.  I cannot change it as they have said that this is compulsory.  I do not know whether there is any riba’ involved in these insurances or not, and also do not know if they invest the money in haram activities.  What should I do? 

In Islamic law, insurance is permissible and thus you are not blameworthy. 

Is borrowing money on credit card haram if they give you 0% interest free deal for a period of time but charges you a balance transfer fee for it.  After the introductory period the bank would charge interest, riba’, if one did not pay back all the money? 

This is permissible in Islamic law so long as you abide by the prescribed time for paying back. 

My bank where I borrowed money for a house where I live in stipulates that I should have building insurance in place in case there is damage to the building?  Is this haram and what should I do? 

This is permissible in Islamic law. 

I bought a house from a bank in a non-Muslim country to live in with my family.  I paid them the deposit and in the house deeds, the bank has a legal charge, I pay them interest, riba’, on the money I borrowed monthly.  What should I do? 

In Islamic law, it is permissible to buy in installments through the bank or housing companies, even when the price in case of installment is higher than cash payment.