Q & A : Interest ( Total Questions : 8 )

Q & A . Send Question

« Previous 1 Next » View All

Question :

Is it permitted to pay interest to non-Muslims and also take interest from them?

Answer :

Giving interest to a non-Muslim in a deal that is based on interest is impermissible and receiving it (interest) is permissible and there is no objection in it.1

Question :

a) Is it permissible to deposit or borrow money from Muslim banks whereby the interest is either received or paid out?

b) Is the law of interest in borrowing/depositing similar with Muslim /non-Muslim banks?

Answer :

a): It is permissible to deposit money in a bank without prior condition for interest and it is as well permissible to take interest, if the bank in which money is deposited belongs to Muslims. If it belongs to government, it is permissible to take interest provided that half of the interest is given away to poor people (momeneen of them).

It is not permissible to take a loan from a national bank (bank owned by muslims) with interest. But if the bank is owned by government it is permissible to take loan with interest provided that taking loan should be with the intention of securing a property whose owner is unknown. Having taken the loan he considers it as a loan given to him on behalf of a Hakim Shara' (Islamic judge). Grand Ayatollah Seestani has permitted this.

b): Answered above. 2

Question :

Is it permissible to receive interest from a non-Muslim bank? What about taking loan with interest, is it permissible?

Answer :

It is absolutely permissible to take interest from a non-Muslim bank. Even making a condition for obtaining interest is permissible. Taking a loan with an interest is not permissible unless one takes it with the intention of securing the money after which he considers it as loan given to him on behalf of Hakim Shar’a (Mujtahed).3

Question :

Is it permissible to receive interest from a non-Muslim bank? What about taking loan with interest, is it permissible?

Answer :

Question :

If I know that the bank will give me interest even without stipulating the conditions, is it permissible for me to deposit in a savings account that takes the form of a term-deposit?

Answer :

Yes, it is permissible, as long as you do not stipulate the conditions of interest.5

Question :

Is it permissible to take interest from unbelievers, especially for those who live in their countries?

Answer :

Yes, apparently one is allowed to take interest from the unbelievers whose property is not honored.6

Question :

Yes, apparently one is allowed to take interest from the unbelievers whose property is not honored.

Answer :

Taking mortgage with interest is not permissible but you can take the money of the unbelievers with the intention of securing the money (from their hands). Then, if you did not spend the money throughout a year, khums (1/5) would become obligatory and it would no longer be dealt with as loan.7

Question :

Can I take an urgent loan from a non-Muslim bank, even if I know that the bank will charge interest?

Answer :

If a Muslim intends to get a loan from such banks, it is necessary that he should do so with the intention that it is a transaction without return, even if he knows that he will end up paying the capital as well as the interest. And he should not do so with the intention of getting the loan with the condition of [paying] interest.8

« Previous 1 Next » View All

Top ^