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Can I give my building to the bank and use the income to pay off my loans?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
Dear Muftisab, I have huge loans from the bank and have a lot of difficulty of paying the same. I am praying to allah to resolve me of my difficulties of finishing up the loans to the bank. I have a building in which there are 2 floors vacant and i have refused to let out the building to the banks because thier income is from interest. I would like to know “can I give the building to the bank and take the income and finish of the loans which are prevailing ” is it allowed in islam. Please let me know at your earliest. Regards, Irfan Bandukwala

Answer

(Fatwa: 1326/L=397/tl=1431)

You can rent your building to the bank; but it is not better.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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