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Borrowing money from a bank

Answered as per Hanafi Fiqh by DarulUloomTT.net

Q. Someone borrows a sum of money from the bank. Is the capital that he borrows considered halal after the person pays out his debt?

A. The capital borrowed is halal, however, he will be considered a sinner/transgressor for having agreed to pay interest to receive the capital, and will also be sinned for having paid the interest. As such, although the capital is halaal, and remains halaal after paying the debt to the bank, it is sinful to agree to pay interest.

And Allah knows best.

Mufti Waseem Khan

This answer was collected from DarulUloomTT.net, which is operated under the supervision of Mufti Waseem Khan from Darul Uloom Trinidad and Tobago.

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