Fatwa #1438717 July 2006Pakistan

want to intend to borrow some amount from provident fund and will return in monthly installments with some mark up. Is it permissible for me to take such loan and pay mark up ?

Question

I am a salaried person working with a private company. I contributed 10 % of basic salary in provident fund and same amount is matched by the company. The provident fund is optional.

I want to intend to borrow some amount from provident fund and will return in monthly installments with some mark up. Is it permissible for me to take such loan and pay mark up ?

Answer

If the loan is an interest bearing one, it is not permissible to make use of the facility.

And Allah Knows Best

Muhammed Zakariyya Desai

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