Darul Iftaa Mahmudiyyah

the inflation here is extremely high. the banks are offering interest rate of more than 100%. can i use that money and make it a source of income

· 1 Rajab 1427 AH1 min readFatwa 14408English

Question

the inflation here is extremely high. the banks are offering interest rate of more than 100%. can i use that money and make it a source of income

Answer

Your question is not clear. According to our understanding, you wish to take a loan on interest and do business. If our understanding of your query is correct, then hereunder is our response:

It is not permissible to take a loan on interest as interest is expressly prohibited in the Shari’ah.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai

Answered by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/14408
Fatawa SA: https://fatawa.co.za/fatwa/askimam-14408

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