QUESTION:
A non-Muslim requested a loan from a Muslim and said he’ll pay them X amount extra (i.e. interest). The Muslim agreed to this. When questioned about it, they said that the money that they are borrowing to the person is from their interest money, so it’s Haraam money on Haraam money, which makes it Jaaiz, because they’ll be giving it away anyway. Is this permissible to do?
ANSWER:
The recipients of interest funds are poor non-Muslims or poor Muslims. The funds should not be accumulated in one’s bank account or possession. Loaning interest funds to a third party irrespective of whether one will be accruing interest on it or not, is not permissible, rather on receiving interest funds, it should be disposed of to the correct recipients.
ALLAH TA’ALA ALONE IN HIS INFINITE KNOWLEDGE KNOWS BEST!
ANSWERED BY:
Maulana Abdul Kader Fazlani
Date: 28 Safar 1446 / 03 September 2024
CHECKED AND APPROVED BY:
Mufti Mohammed Desai Saheb
