Financial Transactions,Loan,
Fatwa No : 82138
معاملات / مالی معاوضات / قرض
What do the esteemed scholars and respected muftis say regarding the following matter that a person had invested in a committee (rotating savings group) of 240,000 rupees. After some time, he found himself in urgent need of money. He approached someone for a loan, promising to repay it when his committee payout is received. The other person agreed on the condition that he would immediately give him 200,000 rupees in cash, but when the committee amount of 240,000 rupees is disbursed, he would receive the full amount.
Is such a transaction permissible or impermissible in Shariah?
الجوابُ حامِدا ًو مُصلیِّا ً
It should be clearly understood that receiving any conditional or agreed-upon profit on a loan is considered interest (riba) in Shariah, which is strictly prohibited and unlawful according to the clear texts of the Qur’an and Hadith. Therefore, in the mentioned case, giving 200,000 rupees and taking 240,000 rupees in return is not permissible, and must be strictly avoided.
مأخَذُ الفَتوی
كما في الشامية: تحت( قوله كل قرض جر نفعاً فهو حرام ) أى اذا كان مشروطاً كما علم مما نقله في البحر اھ (۵/166)۔
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