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Regarding loan

Last updated: 1st January 2005
Question ID: #269
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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.



Bismihi Ta'ala

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

And Allah knows best

Mufti
Answer last updated on:
26th April 2005
Answered by:
Ulamaa ID 01
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