Thursday | 01 December 2022 | 6 Jamadiul-Awal 1444
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Fatwa Answer

Question ID: 1551 Category: Dealings and Transactions
Home Loan

As salaamu alaikum, My owner selling her house in 80 lakhs as it is a big amount for me hence involving my cousin brother who want to pay half and another half I will pay, so that we can distribute two floor rents together every month. As it is in 80 lakhs can I take loan from bank and pay 40 lakhs my share is it permisable in Islam or not.

بسم اللہ الرحمن الرحیم

الجواب وباللہ التوفیق

In this case, it is not permissible to take interest-based loan from the bank. However, you are allowed to take loan from a financial institution offering interest-free loan, provided you have the capability and a firm resolve to pay back that loan. 

قال اللّٰہ تعالی: {اَحَلَّ اللّٰہُ الْبَیْعَ وَحَرَّمَ الرِّبٰوا} [البقرۃ: ۲۷۵

قال اللّٰہ تعالیٰ: {وَذَرُوْا مَا بَقِیَ مِنَ الرِّبٰوا اِنْ کُنْتُمْ مُؤْمِنِیْنَ} [البقرۃ: ۲۷۸]عن ابن مسعود رضي اللّٰہ عنہ قال: لعن رسول اللّٰہ صلی اللّٰہ علیہ وسلم آکل الربوا وموکلہ … الخ۔ (صحیح مسلم رقم: ۱۵۹۷)

عن أبي ہریرۃ رضي اللّٰہ عنہ عن النبي صلی اللّٰہ علیہ وسلم قال: اجتنبوا السبع الموبقات، قالوا یا رسول اللّٰہ! وما ہن؟ قال: وأکل الربوا الخ۔ (صحیح البخاري رقم: ۲۷۶۶

فقط واللہ اعلم واتم