my husband works in U.A.E and he wants to take loan there and buy a house in india. loan should be payed back to bank with interest . so my question is that ke is it halaal to take loan and build a house ,?we want our independent house to live in . we have our parents house to live but not our own’s.,and we cannot stay in parents house due to some reasons.
As Muslims, it should be known that we are only bound to do those things that we are capable of. We should live according to our means, not according to our desires.
By venturing into buying this house on loan, interest bearing transactions will be effective. Allah Ta’ala has strictly forbidden interest in the noble Qur’aan. In fact, Allah has declared war with a person who deals in interest. The alternative will be to buy such a house that is within one’s budget, thereby, saving oneself from the severity of interest.
and Allah Ta’ala Knows Best
Mufti Ebrahim Desai