Is it permissible for the creditor and debtor to agree that the repayment date be tied to a future event, such as the creditor's marriage or travel, or must the date be fixed?
Scholars have agreed that setting a term for a loan obligates the lender to fulfill it, and he is not permitted to demand repayment before the agreed-upon term expires. This is the view of the Malikis and the Zahiris, and it was chosen by Ibn Taymiyyah and Ibn al-Qayyim. Evidence for this is derived from the general meaning of the : "Muslims are bound by their conditions," and from the fact that deferment is part of perfect beneficence, and the purpose of a loan is to show kindness. Moreover, Allah Almighty commanded the fulfillment of contracts and covenants, and this includes agreed-upon conditions.
As for stipulating an unknown term for a loan, such as "until the debtor gets married" or "travels," the Maliki school permits it. Contracts of donation, like loans and gifts, are treated with leniency in aspects not tolerated in other contracts, because their purpose is kindness, and a loan with an unknown term further increases this kindness. Thus, an unknown term in a loan is permissible, unlike in a sale.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/18721
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 18721
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy