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The question

Is it permissible to take out an interest-bearing loan to release a lien on a shop that is the sole source of livelihood?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

It is not permissible to release the shop's mortgage with an interest-based loan unless three conditions are met:

1. The woman and her children must have no other means of livelihood except this shop, such that its closure would result in ruin or unbearable hardship. 2. There must be no alternative to releasing the mortgage except an interest-bearing loan. Among the alternatives is purchasing a commodity through the bank and selling it to obtain cash. 3. The loan must be precisely for the amount needed to release the mortgage, with no increase beyond that.

Summarized from the full answer at Ftawy · imported

Read the full answer on Ftawy
Source platform
Ftawy
Original fatwa ID
141597
Imported
Translation status
Source text, unreviewed
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Read the full answer on Ftawy