Taking an interest bearing loan to start a business

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I want to start the business with my friend. We live in India. I want to have clarification with following points

1. Can I start a business by taking loan based on interest?

2. If above thing is not possible then is it OK if my partners take loan and I restrain from it?

3. Is it ok if I work in their (my partners firm) which takes loans and take my share of profit as employee?

I wanted to have clarification because in any way the firm in which I am working currently has taken loan from banks for its functioning.

Bismillaah

A:

1. No.

2,3. Both are wrong.

4. The operation is corrupt. However, the wage is permissible for you. Rather look for a place that is more careful in this regard.

And Allah Ta’ala (الله تعالى) knows best.

 

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

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