Regarding Financial Loans from Non-muslim Foreign Banks Here in Europe: Some Muslims — Jurisprudential Answers — Miscellaneous Issues, Vol. 1
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Question and answer [link]
Question 94
Regarding financial loans from non-Muslim foreign banks here in Europe: some Muslims take a bank loan to buy a home and repay it with interest at a rate written in the source as '(84 and 6) percent' over twenty, twenty-five, or thirty years. In one arrangement only the interest is paid and the principal remains owed until the home is sold, when the loan is repaid from the sale proceeds. In another arrangement part of the principal is paid monthly in addition to the monthly interest, so the person's monthly payment consists of housing cost, repayment of principal, and interest. Is taking such a bank loan and repaying it with monthly interest lawful or unlawful?
Ahmed al-Hasan Response:
A loan with interest is prohibited riba. However, prohibited riba is realized between one believer and another believer, or between a believer and a Muslim who does not show hostility toward the Imams and the Mahdis (a). Therefore, whether taking a bank loan and repaying it with monthly interest is lawful or unlawful depends on the identity of the bank—that is, the owner or owners of the bank. If they are neither believers nor Muslims who profess love for the family of Muhammad (a), it is permissible to take a loan from them even if it carries interest. It is likewise permissible to lend to them or deposit money with them and take interest from them.
published translation. Source [1]
Source: الأجوبة الفقهية (مسائل متفرقة - ج1); Question 94; Page Not available; FIQH-MISC-V1-Q094. View Arabic source · Open the original Arabic source ↗
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References
- ↑ السيد أحمد الحسن. الأجوبة الفقهية (مسائل متفرقة - ج1). Question 94; Page Not available. FIQH-MISC-V1-Q094. View Arabic source
Cite this page
الأجوبة الفقهية (مسائل متفرقة - ج1) — السيد أحمد الحسن. Question: 94. Page: Not available. FIQH-MISC-V1-Q094. https://ahmedalhasan.org/ar/Library/BookContent/97
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