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Hanafi Fiqh

Is a fixed interest loan Riba?

Assalamualaikum Sheikh.

Inshaallah I hope you’re doing well.

I will be going to university in the UK for my UG for 4 years. My father has decided that he wants to take a loan from the bank with a fixed interest of an agreed amount (about 1% which he’s happy with) in order to pay for the tuition without worry during those 4 years. He’ll pay for the first part and he said I’ll pay once I’ve finished.

Is this Riba? Can you please help me define Riba in layman’s terms and what is the halal way of loans and banks?

Al Azhar University fatwa allows for fixed returns on Bank deposits

I’m trying to get another opinion because I’ve linked a fatwa by al-Azhar that seemingly says that it’s permissible? Inshaallah you can clarify this for me as I may have misunderstood. I thought it’ll be better if I ask directly.

Please make du’a for me and may Allah reward you. Assalamualaikum.

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