Buying properties on interest loans : interest, it has ruined me !

Fatawa Question

Dear Brother, I need to understand, need guidance from your esteem scholars regarding my problem. I am 42 years of age, married with 5 children, my eldest son is a Hafiz-e-Quran, I have tried to live my life as much as possible as a good person, but due to lack of working capital I have taken loans from people with monthly profit, they do not share in my loss, over the past 2-3 years I have suffered heavy losses in my business, therefore, I am unable to pay them their principal and the monthly profit, but these people some of them who are in appearance strict observing Muslims don’t understand and are unwilling to give me any relaxations, whereas I have paid them so far more than their principal amount in monthly profits, I have honestly told them that I am unable to pay them their monthly profit but they still insist and put pressure on me to pay them, I am unable to even meet my family’s basic needs because of this. I realize that I have done grave sin, but why is that I am only suffering and the person who is taking the profit are not, they are thriving, infect one of them even went for Umrah and one went to Hajj last year, but they still demand their profit from me, I begged them, requested them to stop the profit and receive only the principal in installments, but they do not listen. I pray regularly, but now my Iman is very weak I have repented asked Allah's forgiveness but my problems do not go away, the more I try the more my problems get worse. It is now the situation that I am away from my family for the past 2 months. Please help me and guide me as to what I should do and how in the light of Shari’ah I deal with these people whom I have paid more than their principal amount in profits over the last 3 years. Please help me I am very disturbed and need guidance. Thank you.

Fatwa

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Main Subjects

Economics & Business Administration
Financial and Accounting Sciences
Islamic Studies

Topics

• Islamic jurisprudence
• Profits
• Usury

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-729726

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