Interest
Submitted by admin on Sat, 2014-11-29 15:35
Q: My father gave some money to a broker for land so some how my father can't get the land so the broker said that he will return the amount which he has took from us but after 1 year he gave some amount from the total amount. After that my father told him why don't you return all my money but he said that he couldn't give the full amount at once because he used the amount in his business. But he said (if we don't demand it) he will return our money with interest of 2.5%. So my question is, is it permissible to take the extra 2.5%?
A: This is pure interest. Interest is Haraam and forbidden in Islam.
And Allah Ta'ala (الله تعالى) knows best.
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