Transactions & Dealings >> Interest & Insurance
Question ID: 11980Country: AU
Answer ID: 11980Posted on: Sep 1, 2020
Bismillah hir-Rahman nir-Rahim !
(Fatwa: 482/441=B/1430)
It is unlawful to take loan from banks, it requires payment with interest. As taking interest is unlawful, giving interest is also unlawful. If someone is forced, due to the law of land or due to his poverty, while he is unable to get interest free debt and living in plight without a home, then such person is allowable to take loan for home. الضرورات تبیح المحظورات
Allah (Subhana Wa Ta'ala) knows Best
Darul Ifta,
Darul Uloom Deoband, India