I am an Indian citizen. Can I take education loan from a non-Islamic bank inspite of knowing that I have to give the interest? – I have no other way to fund my higher education (MBA from a Australia). Please do mention any Islamic bank which can give me education loan in an Islamic way for my higher education (MBA) from US/Australia.
Answer:
(Fatwa: 472=460/N)
(1) You can not; since giving and taking of interest is sternly prohibited in Islam:
واحل اللہ البیع و حرم الربوا (الآیة) وقال: یا ایھا الذین آمنوا اتقوا اللہ وذروا ما بقی من الربوا ان کنتم مؤمنین، فان لم تفعلوا فاذنوا بحرب من اللہ و رسولہ (الآیة)
(2) We do not know any Islamic bank in
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband