Q: Can we take a loan from a bank in a gulf country?
A: No.
And Allah Ta’ala (الله تعالى) knows best.
Answered by:
Mufti Ebrahim Salejee (Isipingo Beach)
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Bank Loans in Gulf Countries: Are They Accessible to Foreigners?
Answered as per Hanafi Fiqh by Muftionline.co.za
Scholar:
Shaykh Ebrahim Salejee
Short Link: https://islamqa.org/?p=114440
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This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.
Related Q&A
- Can we adopt a child and keep their name unchanged for a valid passport in the Gulf?
- Is it permissible for a person to borrow or take out a loan through a bank and use the money to go for Hajj or Umrah?
- Can animals be mechanically slaughtered in Gulf countries and what are the requirements?
- Can I take a loan from the bank to buy a house if Islamic finance is unavailable?
- Can I take a Loan from a bank if I intent to pay the interest using the interest that the same bank gives me on my account?
- Paying off Interest on a Loan with Interest from a Bank Account
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