Fatwa #117933 June 2004India
Pls let me know whether taking loan permissible for 1. constructing house 2. purchasing a vehicle 3. inorder to expand the buisiness
Question
Pls let me know whether taking loan permissible for 1. constructing house 2. purchasing a vehicle 3. inorder to expand the buisiness Also please let me know a good book on "How to bring up your children".
Answer
It is permissible to take a loan only if it is interest free. It is prohibited to take out an interest bearing loan as interest is strictly prohibited by Allah and His Rasul [Sallallaahu Alayhi Wasallam].
Interest bearing deals incurs the cure of Allah. Allah Ta?ala states, ?Allah deletes (blessings) from interes.? Rasulullah [Sallallaahu Alayhi Wasallam] said, ?Allah curses the person who accepts interest, the person who offers interest, the writer of the interest bearing transaction and the witnesses of such a transaction.
and Allah Ta'ala Knows Best
Mufti Ebrahim Desai
Interest bearing deals incurs the cure of Allah. Allah Ta?ala states, ?Allah deletes (blessings) from interes.? Rasulullah [Sallallaahu Alayhi Wasallam] said, ?Allah curses the person who accepts interest, the person who offers interest, the writer of the interest bearing transaction and the witnesses of such a transaction.
and Allah Ta'ala Knows Best
Mufti Ebrahim Desai