Taking a loan from a bank and getting an employee to write off the loan

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I know someone working at the Federal Bank. He says that he can help open my doors with a higher loan amount. Once he gives me the loan amount, the money can be paid by the insurance of the bank and I don’t have to pay anything towards the loan. He is basically squashing my money so the insurance can pay the bank back. If this was the case, I could open up plenty musjids and pay for the poor with loan amounts from the bank and the insurance of the bank will just pay the banks back. There is a saying that  money is the root to all evil and alot of people are doing this. It sounds corrupt but I require a Mufti’s advice.

Bismillaah

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A: This is incorrect.

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

 

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

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