Is it possible to take a loan at a bank at interest on Islam: when is it allowed? What religion can not be taken by a loan?

Is it possible to take a loan by Islam? There is an exact answer to this question.

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Loans, loans, mortgages and other similar financial transactions - all this has long become commonplace and it seems as if there is no person in the world whom this would not affect at least once in his life. Meanwhile, in the world there is such a religion as Islam, where many things that are familiar to the European layman are either not approved, or are completely banned.

Read on our website another article on the topic: "Can I eat rabbit meat to Muslims?". You will find out what meat is considered to be Islam Halal.

How do Muslims relate to loans and allows, in principle, to conclude such financial transactions Islam? We will talk about this in detail in the article below. Read further.

Is it possible to borrow money in Islam: when is it allowed?

In Islam, it is forbidden to borrow money

Such a phenomenon as financial dependence for more than one century led people to the loss of freedom. And although slavery has long been canceled almost throughout the world, the burden of debts is still an extremely significant factor in the restriction of human freedom, albeit spiritual, and not physical. At the same time, not to say that world religions paid a lot of attention to money and loans. And the attitude to this phenomenon of Islam deserves special attention. Is it possible to borrow money in Islam and when is it allowed?

In general, the debts of people to each other are not perceived in Islam as something bad. But at the same time, it is recommended to avoid them. So, the Prophet Muhammad more than once pronounced a prayer (dua), asking him to save him from heavy sins and debts. The hadith with this text, which was transmitted through Aisha, is in the collections of Muslim and Albukhri.

As for situations allowing Muslims to borrow money, there are three conditions for this: Islamic scientists:

You can borrow money only for those needs that do not contradict the norms of Islam and are not prohibited by Sharia.
The debtor must have the opportunity to repay the debt. This means that the amount should be lifting.
A person who takes money in debt should have the intention to return funds to the one from whom he takes them. You cannot hope that the debt will be forgotten or forgiven.

It remains to add that debt liability itself is perceived by Muslims as a serious stimulus. On the one hand, the duty becomes a kind of humiliation for someone who takes money in loans and a reason for self -flagellation. On the other hand, a person gives money to loans, begins to worry about the return of funds and compliance with the contract. Therefore, often borrowed money, becomes a reason for large quarrels between Muslims.

Is it possible to take a bank loan at interest on Islam?

Instrost and loans are a common type of financial transactions around the world. Is it possible to take a loan at the bank at interest on Islam and what does the Qur'an say on this?

In Islam, there is a unanimous and unambiguous opinion on this subject: no, it is forbidden to do it.
The financial loan, as well as installments, is Haram.

In Islam, there is such a thing as “kharaz” (money, data into circulation). With such a loan, a condition for the division of future profits is concluded between the bank and the borrower. Such transactions with the Bank Islam are resolved as opposed to ordinary loans, where it does not matter whether a person received a profit or not.

In which religion is it still impossible to take a loan?

It may seem amazing, but Islam is not the only religion that is negative about loans. Let's find out who else in addition to Muslims, you can’t take loans.

In fact, none of the existing religions approve of loans and installments. Moreover, condemnation concerns any form of provision and charging interest, be it ordinary consumer loan, mortgage, pawnshop, deposit or anything else.
Religious canons are prohibited not only to give loans, but also to give a debt with a percentage. At the same time, those transactions that were completed by mutual agreement of the parties are no exception.

Thus, not one of the existing religions approves loans, and in all cultures such transactions are considered a sin. Moreover, they are prohibited only in Muslims.

Transfer of debt to another person in Islam

Undoubtedly, the simplest way to get rid of the debt is to pay it. However, in Islam there is another option to say goodbye to duty, not quite ordinary. We are talking about the so-called al-Khaval or in other words, the transfer of debt to another person. We will tell you about how this scheme is carried out and what conditions are necessary for its implementation.

The first and main condition necessary for transferring debt to another person is the consent of the side that takes on payment obligations.
In the case of the consent of both parties, the relevant contract is signed.
It is worth saying about the consent of the creditor, which is also an important part of the transaction.

It is worth noting that the transaction described above with the transfer of debt to another person can not only be concluded, but also canceled. This is possible if, for example, a person who has accepted the debt, he died bankrupt. It is also possible to break the transaction if the person who accepted the debt swears that he did not accept it, and the transferring does not have evidence.

Dua to get rid of debts

There is a well -known prayer in Islam (DUA), read by the prophet Muhammad, to get rid of his burden. Now it is used by Muslims who want to get rid of the debt pit. Here is a dua to get rid of debts:

It is worth noting that there is a version according to which the Prophet Muhammad advised one of his Sahaba (associates), read the “Imran family”, namely, 26 and 27 of its ayat, to get rid of the duty of Surah.

As already written above, loans are a sin not only in Islam, but in all existing religions and should be prohibited. However, unfortunately, the majority of religions existing today no longer have the influence on people and society, as it was many centuries ago. Therefore, people simply turn a blind eye to many modern things and trends. What can not be said about Islam, in which traditions are still strong and there are rules.