Bank loan

15-1-2001 | IslamWeb

Question:

I am a businessman. I would like to know if I can take a loan from the bank to promote my export trade, otherwise I cannot compete with traders in the same field who have much more finance than I?

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Answer:

Praise be to Allah, the Lord of the Worlds, and blessings and peace be upon our Prophet Muhammad and upon all his Family and Companions.

Usury is Haram in Islam, in all situations. There is no exception. Almighty Allah has declared war against whoever deals with usury.       Be patient, trust in Allah, do not be greedy; Allah distributes the sustenance among His servants as He wishes. Allah knows best.