Dear Maulana, Salam walaikum, i am bearing major expneses with my parents in constructing three seprate portion of home on the land fully owned by my parents. my two younger brother are not able to bear any thing at the moment as they have just started their earnigs. i want my brothers to return the amount when ever they are able to, with no time limit and only if they are capable enough to repay with the following term. if the amount of their share/part when coverts into gold becomes X-Grms gold now. they should return to me the amount with which i can purchase X-Grms gold at the time of repay. wethar the amount goes in less or more. is the above condition OK? because the value of 1 lakh will not be the same after 5 or 10 years. if i can purchase some thing with 1 lakh today i cant purchase the same thing with 1 lakh after 5 or 10 years. Thanks in advance.
Answer:
(Fatwa: 558/367/H=1432)
It is interest to take back more money than you have given which is haram. The interpretation of calculation with the rate of gold is not right as per the shariah. Due to this interpretation, the dealing of interest would not turn right. However, if you give gold in place of money in debt and take back as much gold as you have given in debt, then it is lawful.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband