janab salam, i am a running a trading firm sucessfully. but now i want to expend my bussiness but due to shortage of fund i want to make intrest based loan through bank,is it correct? please give me correct path. allah hafiz
Answer
(Fatwa: 1277/1214=B/1430)
Taking loan on interest is permissible only in exigent cases; it is not permissible for expanding business. You should keep on running the company which you now run successfully, Allah shall give barakah in it and avoid using interest money as much as possible.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband