Taking out a zero interest loan
Q 5: What is the Islamic ruling on loans offered by the Nasser Bank bearing in mind that we repay the loan without any increase but the bank deals in Riba (usury)?
A: If the reality is as you have mentioned; you pay off the same amount of the loan without any additions and there is no condition of any additional money in case of delaying the payment, it is permissible to take the loan; otherwise, it is not permissible.May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his Family, and Companions.
Islamic ruling on lo...
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