Fulfilment of existing contractual obligations to pay interest : fulfilling already signed interest-based contracts

Fatawa Question

Then it would be Haram to take out more loans to finish school that was started before I was a Muslimah, but it would be acceptable to pay back loans very slowly and attend school very slowly, even though attending school might divert some of the money that would repay the previous debt sooner ? Notes : Assalamu Alaikum Sheikh Mufti Monzer Kahf Previously, you gave me answer A 3 EDC 7. Of course, as a Muslimah, I would love to still attain high achievement. However, I prefer to obtain the ‘Ilm that is best for obtaining Jannah rather than for obtaining worldly things. As a new Muslimah, I have a lot of serious responsibilities that could have a lot of consequences if I make the wrong choice, like a newborn baby boy, elhamdulilah, or learning the right path and avoiding the Haram. I have read so many Hadith that speak about how Riba will get us to hellfire. In Sha Allah I can see how Riba paid from previous commitments might be unavoidable, but I am afraid of committing to more educational loans because they would be commitments to Riba now that I am a Muslimah and know it is Haram. The only means of attending school I have is through loans with Riba, or by attending at a very, very slow rate (maybe one class per semester). So I am not sure what a person in my situation should do, except to do my best to avoid committing more Haram with new loans and trying to continue at a very, very low rate to pay the loans, and of course, study. Of course, right now my husband is also seeking to improve himself, but his studies will also be slow because he has to work and learn the language here, too, In Sha Allah.

Fatwa

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Publication Date

2000-12-30

Main Subjects

Financial and Accounting Sciences
Religion
Law
Islamic Studies

Topics

• Banks
• Islamic jurisprudence
• Education
• Students
• Loans
• Interest
• Usury

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-726282

• APA
• MLA
• AMA