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Is it permissible to take a loan for business investment in difficult circumstances?

Answered as per Hanafi Fiqh by Muftisays.com
Assalamu alaikum,

I am a bussiness man and today the situation of my bussiness is that it needs investment .Any have if i collaberate with any other person the situation is becoming bad as the devil is making all the work in peril.
In such a situation if i take a loan for a truck or investment into my bussiness through loans which are provided by banks or minority loans at an annual interest .Please tell me is this allowed in such circumstances or not.

Answer
Bismihi Ta’ala

To take a conventional loan from a bank for this situation will not be permissible.

And Allah knows best

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Mufti Yaseen Shaikh

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This answer was collected from MuftiSays.com, based in London (UK). It is one of the fruits of Darul Uloom London. Many ‘ulama are involved in answering the Q&A on the site, including: Shaikul Hadeeth Mufti Umar Farooq Sahib, Mufti Saifur Rahman Sahib, Mufti Abdullah Patel Sahib, Maulana Qamruz Zaman Sahib, Mufti Abu Bakr Karolia Sahib.

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