IslamQA.org Logo

Using interest to offset an interest bearing loan

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I know that it is haraam to deal with interest, but buying a house today comes with great difficulty and is seen as a need not and not a want. Can one use interest recevied from an investment account to offset the interest paid towards the house?

Bismillaah

A: A house was always a need, not only in today’s times, and we were always told to refrain from interest.

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

 

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

Find more answers indexed from: Muftionline.co.za
Read more answers with similar topics:
Search
Related QA

Pin It on Pinterest