Transactions & Dealings >> Other Transactions
Question ID: 36238Country: Pakistan
Answer ID: 36238
Bismillah hir-Rahman nir-Rahim !
(Fatwa: 170/170/M=1433) If loan means a debt based on interest, then it was wrong that you gave your friend interest based loan. Loans based on interest are haram in Shariah and Hadith curses those who practice interest based dealing. A man who is taking interest based loan may be forced by need, but it is not lawful for the creditor in any condition to give interest based loan. However in the question mentioned above, you gave 40 Omani riyals to your friend as loan then your friend is bound to return you 40 Omani riyals. No matter what the value of riyal in Pakistani currency is. You should demand only 40 Omani riyals from your friend.
Allah (Subhana Wa Ta'ala) knows Best
Darul Ifta,
Darul Uloom Deoband, India