Is it permissible to search for a bank to buy out an accumulated, burdensome debt in its entirety, for the purpose of reducing the value of the monthly installments?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
It is obligatory for you to repent to Allah for dealing with interest-based banks. As for paying off interest-based debts, it is permissible to deal with an Islamic bank that adheres to guidelines through tawarruq, by purchasing a commodity from them at an installment price, then selling it and using its proceeds to pay off your debts.
Summarized from the full answer at Ftawy · imported
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Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 133710
- Imported
- Translation status
- Source text, unreviewed
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