Transactions & Dealings >> Interest & Insurance

Question ID: 1833Country: India

Title:
Is bank loan permisible in India for business purpose? if yes what are the criteria and if no why?

Question: Is bank loan permisible in India for business purpose? if yes what are the criteria and if no why?

Answer ID: 1833Posted on: Sep 1, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 683/679=N)

It is not allowed; because this involves giving interest, and both giving and taking interest is haram:

قال تعالی: و احل اللہ البیع و حرم الربوا (الآیۃ)

و لعن رسول اللہ صلی اللہ علیہ وسلم: اٰکل الربوا و مؤکلہ و کاتبہ و شاھدیہ و قال ھم سواء (مسلم و ترمذی)

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

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Title:
Is bank loan permisible in India for business purpose? if yes what are the criteria and if no why?

Question: Is bank loan permisible in India for business purpose? if yes what are the criteria and if no why?

Related Questions

Faiths & Beliefs

Miscellaneous

Prayers & Duties

Social Matters

Transactions & Dealings

Title: Is bank loan permisible in India for business purpose? if yes what are the criteria and if no why?

Question: Is bank loan permisible in India for business purpose? if yes what are the criteria and if no why?

Related Questions

Title:
Is bank loan permisible in India for business purpose? if yes what are the criteria and if no why?