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Is it permissible to borrow money from a colleague with increased interest?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
Assalamu alaikum, I want to borrow money from a person working in my office for a period of six months. I will return the money with increased amount. Is it jayez.

Answer

(Fatwa: 156/156/M=1432)

It is lawful to pay more than the borrowed money provided there is no condition of extra amount and the creditor does not harbour a desire it to receive extra amount, rather it is good, and proved by hadith.
“إن خياركم أحسنكم قضاء” و فى رواية عن جابر قال : كان لى على النبى صلى الله عليه وسلم دين ، فقضالي و زادنى (مشكوة)
However, at the time of paying the debt one should say like this: this is your capital demand and this extra amount is from my side.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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