Is it permissible to take a loan from an interest-based (ribawi) bank to pay off previous debts, some of which were for luxuries, especially if the alternative loan from an Islamic bank has a shorter term and is less convenient?
It is not permissible to borrow with usury (riba), even with the intention of repaying debts. The debtor must repay what they can, and the creditors should wait for them if they are in hardship. It is permissible to engage in financing transactions with Islamic banks that adhere to regulations, such as Tawarruq. It is recommended to turn to Allah with supplication, repentance, and seeking forgiveness. Among the well-known supplications is: "O Allah, I seek refuge in You from anxiety and sorrow, and I seek refuge in You from inability and laziness, and I seek refuge in You from cowardice and stinginess, and I seek refuge in You from the burden of debt and the oppression of men."
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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Where this answer came from
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- Ftawy
- Original fatwa ID
- 177060
- 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