Darul Iftaa Mahmudiyyah

Can I take a Loan from a bank if I intent to pay the interest using the interest that the same bank gives me on my account?

· 13 Muharram 1422 AH1 min readFatwa 2642English

Question

Dear Mufti; I have read that you gave fatwah that the interest on a bank account could be used to offset the interest on a loan from the same bank; my question: If this is my intent can I take a loan from the bank ? Baraka Lahou Bikom

Answer

Respected Brother-in-Islam

Assalaamu Alaykum Wa Rahmatullaahi Wa Barakaatuhu

The wisdom behind the referred Fatwa is to merely dispose of the interest in the very avenue it was obtained from. It certainly does not imply that one can deliberately obtain an interest bearing loan.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai
FATWA DEPT.

Answered by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/2642
Fatawa SA: https://fatawa.co.za/fatwa/askimam-2642

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