Is it permissible to take out the loan knowing that one will be able to pay it back fully before any interest is due from the student?

Answered according to Hanafi Fiqh by Askimam.org

 

 

In clarification of my question 34023:

 

The student takes out a loan from the bank.  Interest is due immediately but the government pays the interest while the student is studying. A month after the student graduates the government stops paying  interest,  the student then starts repayment including interest.  The student has the option to pay back the loan in full at any time therfore providing the loan is paid back before the first installment is due no interest will be due from the individual.  

 

Is it permissible to take out the loan knowing that one will be able to pay it back fully before any interest is due from the student?

 

 

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

 

 

In principle and in general[1], it is prohibited to take out an interest bearing loan.  The very contract itself is prohibited even though one may pay the loan timeously and avoid paying interest.

Allah Ta`ala says;

{ يَا أَيُّهَا الَّذِينَ آمَنُوا اتَّقُوا اللَّهَ وَذَرُوا مَا بَقِيَ مِنَ الرِّبَا إِنْ كُنْتُمْ مُؤْمِنِينَ (278) فَإِنْ لَمْ تَفْعَلُوا فَأْذَنُوا بِحَرْبٍ مِنَ اللَّهِ وَرَسُولِهِ } [البقرة: 278، 279]

Translation:

O you who believe fear Allah and leave out the remains of riba, if you are (true) believers. If you do not (avoid interest), then be warned of war with Allah and His Messenger.” (Quran, 2:278)[2]

As stated above that this is a principle and a general ruling. If one is faced with a dire financial situation, then contact your local Mufti to advice you accordingly.

 

And Allah Ta’āla Knows Best

Hafizurrahman Fatehmahomed

Student Darul Iftaa
Netherlands

Checked and Approved by,
Mufti Ebrahim Desai.

 

 

 


[1]

فتاوی دار العلوم زکریا،ج5،ص514)

اگر اموال ربویہ سے قرض لینے کا مطلب یہ ہو کہ قرض بینک سے لیتا ہے اور اس پر سود ادا کریگا تو یہ درست نہیں کیونکہ جامعہ کی تعلیم فرض نہیں اور نہ انتہائی مجبوری ہےے کہ اس کے لیے ناجائز کا ارتکاب کیا جاۓ

[2] { يَا أَيُّهَا الَّذِينَ آمَنُوا اتَّقُوا اللَّهَ وَذَرُوا مَا بَقِيَ مِنَ الرِّبَا إِنْ كُنْتُمْ مُؤْمِنِينَ (278) فَإِنْ لَمْ تَفْعَلُوا فَأْذَنُوا بِحَرْبٍ مِنَ اللَّهِ وَرَسُولِهِ } [البقرة: 278، 279]

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