IslamQA

Bank loan with a timed interest free provision

Answered according to Hanafi Fiqh by DaruliftaaZambia.com

Question

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh

I wanted to know if I can get a loan from a bank if I pay back within a months time i will not pay back with interest buh if I exceed the one month I will have to pay back with interest

I really wouldn’t have taken buh I’m in need and my intention is to pay it back within a month in Sha Allah

Please help jazakAllahu kheyr

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

The Qur’aan explicitly prohibits engaging in interest based transactions. Allah states:

O you who believe, fear Allah and give up what still remains of ribā, if you are believers. But if you do not (give it up), then listen to the declaration of war from Allah and His Messenger. However, if you repent, yours is your principal. Neither wrong, nor be wronged. (Verse: 2:278,279)

In principle, any transaction that involves an element of interest – though conditional – is not permissible. Accordingly, the transaction you have undertaken in the form of a loan is not permissible in Shari’ah. In an avoidable situation, one should refrain from taking out such a loan. However, the money obtained through the loan will be Halaal. [i]

As long as you pay back within the interest free period, you will InshaAllah not incur the sin of engaging in interest. However, you should make Tawbah for engaging in a non-permissible transaction. [ii]

And Allah Ta’āla Knows Best

Mufti Nabeel Valli.

Darul Iftaa Mahmudiyyah
Lusaka, Zambia

____________________

[i]  المبسوط للسرخسي (20/ 126)

وَإِذَا أَقْرَضَ الرَّجُلُ الرَّجُلَ قَرْضًا عَلَى أَنْ يَكْفُلَ بِهِ فُلَانٌ؛ كَانَ جَائِزًا حَاضِرًا كَانَ فُلَانٌ أَوْ غَائِبًا ضَمِنَ أَوْ لَمْ يَضْمَنْ، وَكَذَلِكَ لَوْ شَرَطَ أَنْ يُحِيلَهُ بِهِ عَلَى فُلَانٍ؛ لِأَنَّ الْقَرْضَ لَا يَتَعَلَّقُ بِالْجَائِزِ مِنْ الشُّرُوطِ فَلَا يُفْسِدُهُ الْبَاطِلُ

 

 البحر الرائق شرح كنز الدقائق، کتاب البیوع، باب السلم، ج٦، ص۲۰۳، دار الکتاب الاسلامی

قَوْلُهُ (وَمَا لَا يَبْطُلُ بِالشَّرْطِ الْفَاسِدِ الْقَرْضُ) بِأَنْ قَالَ أَقْرَضْتُك هَذِهِ الْمِائَةَ بِشَرْطِ أَنْ تَخْدُمَنِي شَهْرًا مَثَلًا فَإِنَّهُ لَا يَبْطُلُ بِهَذَا الشَّرْطِ وَذَلِكَ؛ لِأَنَّ الشُّرُوطَ الْفَاسِدَةَ مِنْ بَابِ الرِّبَا وَأَنَّهُ يَخْتَصُّ بِالْمُبَادَلَةِ الْمَالِيَّةِ وَهَذِهِ الْعُقُودُ كُلُّهَا لَيْسَتْ بِمُعَاوَضَةٍ مَالِيَّةٍ فَلَا تُؤَثِّرُ فِيهَا الشُّرُوطُ الْفَاسِدَةُ ذَكَرَهُ الْعَيْنِيُّ…وَفِي الْبَزَّازِيَّةِ وَتَعْلِيقُ الْقَرْضِ حَرَامٌ وَالشَّرْطُ لَا يَلْزَمُ

 

[ii]  الدر المختار وحاشية ابن عابدين (رد المحتار) (5/ 249)

قلت: وقدمنا أن كل ما جاز تعليقه لا يفسد بالشرط الفاسد، وسيأتي أيضا (قوله القرض) ك أقرضتك هذه المائة بشرط أن تخدمني سنة، وفي البزازية: وتعليق القرض حرام والشرط لا يلزم. والذي في الخلاصة عن كفالة الأصل والقرض بالشرط حرام اهـ نهر أي فالمراد بالتعليق الشرط. وفي صرف البزازية: أقرضه على أن يوفيه بالعراق فسد اهـ أي فسد الشرط وإلا خالف ما هنا تأمل

This answer was collected from Daruliftaazambia.com, which serves as a gateway to Darul Iftaa Mahmudiyyah – Lusaka, Zambia.

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