AskImamDarul Iftaa Mahmudiyyah (AskImam)
the inflation here is extremely high. the banks are offering interest rate of more than 100%. can i use that money and make it a source of income
Question
the inflation here is extremely high. the banks are offering interest rate of more than 100%. can i use that money and make it a source of income
Answer
Your question is not clear. According to our understanding, you wish to take a loan on interest and do business. If our understanding of your query is correct, then hereunder is our response:
It is not permissible to take a loan on interest as interest is expressly prohibited in the Shari’ah.
and Allah Ta'ala Knows Best
Mufti Ebrahim Desai
- Answered by
- Mufti Ebrahim Desai
Fatawa SA is an independent, read-only index of fatawa already published by Darul Iftaa Mahmudiyyah (AskImam). It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.