• Transactions & Dealings >> Business

    Question ID: 50031Country: India

    Title: Business consultation to a business having bank loan

    Question: I am a business consultant. Currently I am in Qatar and one of my friends seeking my help to develop his business. It is a rent a car company and some of their cars are in bank loan. My job is to study the market and recruit some staffs and guide the business for its overall development. The source of finance for further development too is bank loan. Without knowing the complexities, I had committed to him; please advise me that whether I can go ahead or not? And how I should deal him?

    Answer ID: 50031

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 258/212/B=02/1435) It is mentioned in the Quran: وتَعَاوَنُواْ عَلَى الْبرِّ وَالتَّقْوَى وَلاَ تَعَاوَنُواْ عَلَى الإِثْمِ وَالْعُدْوَانِ (المائدة: 2) “Help each other in righteousness and piety, and do not help each other in sin and aggression” (5:2) When your job is to guide him in company matters and bank loan is source of future finance, then obviously it involves interest, thus your help and guidance in this regard will be tantamount to grow an interest based work. So it is helping in sin and this is not right for a Muslim.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India