Title: Sir , i m pursuing M B A and i want set up my own business but i have no sufficient capital for thi purpose i want to take loan is it right, and my father have a business they have a lot debtor they are not returning the my amount what will we do?

Question: Sir , i m pursuing M B A and i want set up my own business but i have no sufficient capital for thi purpose i want to take loan is it right, and my father have a business they have a lot debtor they are not returning the my amount what will we do?

Answer ID: 12293Posted on: Sep 1, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 689/689=M/1430)

In taking loan, one has to give interest. As taking interest in unlawful and haram, giving interest without any severe compulsion is also unlawful. Those who deal in interest based transactions have been cursed. Therefore, you should not take loan for business. If you really need money, try to get it from any non-interest sources, in-shaAllah you will get it. Those who owe debts to your father give them some time to repay if they are not in a position to pay it immediately. You shall get rewards from Allah for this act of kindness. Keep on demanding your debt in good manner. You can take your right forcefully from those who are delaying payment in spite of being able to pay.