Fatwa #1719015 October 2008Saudi Arabia

Using overdraft money

Question

if a person is having overdraft in his bank account(if has only one account),is it halal to use such money.the person is working but his monthly income is not sufficient to change the position of his bank account(overdraft).

Answer

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatoh

An overdraft is a loan on interest which is haram. The person should pay his debt and abstain from interest.

And Allah Ta'ala Knows Best

Mufti Ebrahim Desai
Darul Iftaa

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