• Transactions & Dealings >> Inheritance & Will

    Question ID: 22900Country: India

    Title: I am from Middle class family i have some Gold jewellary can i take Loan Against Gold ? For business purpose i dont have any other resources for money .plz Guide me?

    Question: I am from Middle class family i have some Gold jewellary can i take Loan Against Gold ? For business purpose i dont have any other resources for money .plz Guide me?

    Answer ID: 22900

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 1066/866/B=1431)

    If you own medium type of business and live respectfully, in this case it is not lawful for you to take loan without dire need; for you will have to pay interest. As taking interest is haram, giving interest is also haram.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India