Mufti Online — Madrasah Ta'leemuddeen

Taking an interest bearing loan

· 17 Jumada I 1438 AH1 min readEnglish

Question

Sending this on behalf of someone: If I buy a property and the bank finances it and I pay a set amount plus interest every month to the bank, is it halaal or haraam?

Answer

Taking an interest bearing loan from the bank is haraam. Grave warnings have been sounded in the Mubaarak Ahaadith for the one who gets involved in riba (interest). Jaabir (radhiyallahu anhu) reported that Rasulullah (sallallahu alaihi wa sallam) cursed the one who consumes interest, pays interest, the scribe for the interest bearing transaction and the witness to such a transaction.”

And Allah Ta'ala (الله تعالى) knows best.

Answered by
Mufti Zakaria Makada
Checked & approved by
Mufti Ebrahim Salejee (Isipingo Beach)
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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/18528
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-18528

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