Mufti Online — Madrasah Ta'leemuddeen

Taking an interest-bearing loan to study

· 13 Jumada II 1446 AH1 min readEnglish

Question

I have a great academic background and I want to continue my studies abroad. The country I am currently living in is Afghanistan, so my financial circumstances are not good and for continuing my studies I am not going to be able to pay for my education expenses.

Can I get a loan and this loan has been accompanied by interest. Studying abroad is my dream and I can make my future through this. So can I get the loan?

Answer

Taking an interest-bearing loan is haraam. Hence, you should refrain from this. Severe warnings have been sounded in the mubaarak Ahaadith for those who get involved in the grave sin of interest.

Hazrat Jaabir (radhiyallahu ‘anhu) reports that Rasulullah (sallallahu ‘alaihi wasallam) cursed the one who consumes riba (interest), the one who feeds it to others, the one who records it (i.e. the transaction) and those who are witness to it (i.e. the transaction). Rasulullah (sallallahu ‘alaihi wasallam) also said, “All of them are equal (in the sin of interest).”

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

Answered by
Mufti Zakaria Makada
Checked & approved by
Mufti Ebrahim Salejee (Isipingo Beach)
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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/35364
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