Taking a loan from the bank
Question
My question is that we are in USA and can not buy a home on cash because it is impossible. So because of compulsion can we take a loan from the bank due to compulsion?
Answer
The majority dealings of all conventional banks are in total contradiction with the laws of Shari'ah. Their main operation revolves around interest and usury. For further details refer to http://muftionline.co.za/node/2145
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Zakaria Makada
- Checked & approved by
- Mufti Ebrahim Salejee (Isipingo Beach)
Fatawa SA is an independent, read-only index of fatawa already published by Mufti Online — Madrasah Ta'leemuddeen. It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.