Mufti Online — Madrasah Ta'leemuddeen

Interest

· 6 Shaʻban 1435 AH1 min readEnglish

Question

Interest is considered to be a strong haraam and a grave sin, but isn't interest needed as a fundamental basis for starting a bank and being able to
hand out loans?

Answer

This is on the basis of disbelief and as a result of the corrupt capitalistic mindset.

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

Answered by
Mufti Ebrahim Salejee (Isipingo Beach)
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Questions about this ruling, answered only from the archive with sources.

Where scholars differ, it’s safer to take the more cautious view.

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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/7037
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-7037

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