Q: Is it permissible in Islam to take out a loan for my business. I want to take out a commercial loan from the bank for my business. Can I take out the loan?
A: Taking an interest bearing loan from the bank is haraam.
And Allah Ta’ala (الله تعالى) knows best.
Answered by:
Mufti Zakaria Makada
Checked & Approved:
Mufti Ebrahim Salejee (Isipingo Beach)