Currency depreciating when paying back a loan
Question
If I borrow Rs 10 lac from someone and return the same amount after 10 years, the value of the money will not be same and interest is haraam so what should we do to keep the value of the money?
Answer
You may borrow gold and pay back with gold in return.
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Ebrahim Salejee (Isipingo Beach)
Where scholars differ, it’s safer to take the more cautious view.
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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/29441
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-29441
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