Interest-based loans to run or save business : interest-based loan to protect ones business form bankruptcy
Fatawa Question
Salamu Alaikum I have a terrible situation developed. I have a friend who is an excellent practicing Muslim. This friend had started a business that can be highly profitable and purely Halal. In order to get off the ground, though, he needs a hefty investment. No one within our community can offer the funds. If he does not get the funds, he may go bankrupt. In cases like this, is it allowed for him to take a business loan from a bank ? of course the loan will have Riba. Can you think of another alternative (i.e., any Muslim organizations that assist entrepreneurs with monetary needs).
Fatwa
Click hereto view more
Publication Date
2001-03-27
Main Subjects
Economics & Business Administration
Financial and Accounting Sciences
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-726558
American Psychological Association (APA)
Qahf, Mundhir. 2001-03-27. Interest-based loans to run or save business : interest-based loan to protect ones business form bankruptcy. .
https://search.emarefa.net/detail/BIM-726558
Modern Language Association (MLA)
Qahf, Mundhir. Interest-based loans to run or save business : interest-based loan to protect ones business form bankruptcy. 2001-03-27.
https://search.emarefa.net/detail/BIM-726558
American Medical Association (AMA)
Qahf, Mundhir. 2001-03-27. Interest-based loans to run or save business : interest-based loan to protect ones business form bankruptcy.
https://search.emarefa.net/detail/BIM-726558
