#528: Ruling on borrowing Money from Banks with Interest
QUESTION
” Sallam alaykum Ya admin,pls what is the ruling on someone who borrows money from the bank as loan(were it wil be compulsory on him to pay riba/interest)pls is the business he those with that money halal or haram,pls what is the status of this individual people and the income and the good they did with this money,sallam alaykum,jazakhallahu khyran”
ANSWER
Wa alaykum Salām YWarahmatullāh Wabarakātuh.
Alhamdulillāh.
It is not permissible for anyone who believes in Allāh and the Last Day to engage himself in any borrowings that involve interest rates. This is because Allāh has declared it Harām and it is among the deeds upon which the Ulamā have agreed upon to be of the Kabā’ir.
As for the Hukm of the one who engages in that, then he is involved in sins and it is better that he repents to Allāh and never engage in such again.
As long as borrowing money is not Harām, there is nothing wrong with the wealth he gathers from such loans. Rather what was Harām was his deed, and his fuelling if this Criminal industry that enslaves people for Years.
And Allāh knows best.
Bārakallāhu fīkum.
Jazākumullāhu Khayran
25th Jumadal Ula 1439AH.
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