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Is the profit I earn from a business I undertake using a loan I obtained from a bank that charges interest halal to me? I have paid back the loan and the interest that was charged. I do construction and general supplies. When a contractor is given government contracts you will have to execute before payment is done. In some cases the amount is huge and you would need a loan but in my country there are no Islamic compliant banks. There are only banks that charge interest.

asked 10 abdulrashid's gravatar image
closed Apr 03 '13 at 03:59 sadie ♦ 1.6k315 sadie's gravatar image

The question has been closed for the following reason "The question is answered, right answer was accepted" by sadie Apr 03 '13 at 03:59

No. It's haram for the following reason. Intrest or Riba is forbidden in the Din. Just as one who owns a store where swine or alcohol is sold, the gains that they have attained are haram for we know that Allah(swt) has forbidden these things. If you research Ibn Taymiyyah(ra) he gives good explanations on thses matters as well as any student that learned from him.

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answered 5324 Muttawakkil's gravatar image

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Asked: Apr 01 '13 at 19:39

Seen: 610 times

Last updated: Apr 03 '13 at 03:59



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