Can we take a loan from the bank for business purposes or is it haraaam?

Q: Can we take a loan from the bank for business purposes or is it haraaam?

Bismillaah

A: Refer to http://muftionline.co.za/node/7507 and http://muftionline.co.za/node/2088

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

 

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)