Home » Hanafi Fiqh » CouncilofUlama.co.za » Bank Loan for Business
Q: I like to know whether taking a bank loan to open a business is allowed or not. If not, how else one can start a business in this country Australia?
A:Taking a loan on interest is only allowed under extreme circumstances. Starting a business does not fall under this category. Thus it would not be permissible to take an interest bearing loan to start a business.
Council of Ulama Eastern Cape
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