Source: http://qa.muftisays.com/?269
Question ID: #269
 
Question: Regarding loan
Assalamu alaikum,



I am a bussiness man and today the situation of my bussiness is that it needs investment .Any have if i collaberate with any other person the situation is becoming bad as the devil is making all the work in peril.
In such a situation if i take a loan for a truck or investment into my bussiness through loans which are provided by banks or minority loans at an annual interest .Please tell me is this allowed in such circumstances or not.
 
 
Answered by: Ulamaa ID 01 ()
Date: 26/04/2005 14:46pm

Bismihi Ta'ala

To take a conventional loan from a bank for this situation will not be permissible.

And Allah knows best


Mufti Yaseen Shaikh
 
www.MuftiSays.com