Q: I took a loan on interest and I know very well that it is haraam in Islam, but now there is no way except this option. I have to get married and construct a house. A promise is coming in a few months time which is deadline to get married. Please tell me what should I do.
A: Taking an interest bearing loan is Haraam and forbidden in Shariah. Severe warnings have been sounded in the mubaarak Ahaadith for those who get involved in the grave sin of interest.
Hazrat Jaabir (radhiyallahu ‘anhu) reports that Rasulullah (sallallahu ‘alaihi wasallam) cursed the one who consumes riba (interest), the one who feeds it to others, the one who records it (i.e. the transaction) and those who are witness to it (i.e. the transaction). Rasulullah (sallallahu ‘alaihi wasallam) also said, “All of them are equal (in the sin of interest).”
If someone from your family or friends is prepared to give you an interest free loan, then you may accept it. If no one wishes to assist you, then you should rather rent a house.
Taking an interest-bearing loan from the bank for this purpose will only earn you the curse of Allah Ta'ala. You should understand that this is the beginning of your new life, hence why commence it with the curse of Allah Ta'ala?
And Allah Ta'ala (الله تعالى) knows best.
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