Debts in the economy, reserve requirements and credit creation : is debt industry permissible ?
Fatawa Question
Assalamu Alaykum Prof Monzer Kahf, There are views amongst us saying that the debt industry itself-regardless Islamic or conventional-is to be stopped. The Muslim community should stop taking loans altogether even for buying houses or cars. Similarly businessmen must stop taking loans from banks, any banks. It is better and more Baraka not to do business or own a house if you can’t afford them. What do you say of these views ? Azlan Awang Shah Alam, Malaysia
Fatwa
Click hereto view more
Publication Date
2012-07-18
Main Subjects
Financial and Accounting Sciences
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-730803
American Psychological Association (APA)
Qahf, Mundhir. 2012-07-18. Debts in the economy, reserve requirements and credit creation : is debt industry permissible ?. .
https://search.emarefa.net/detail/BIM-730803
Modern Language Association (MLA)
Qahf, Mundhir. Debts in the economy, reserve requirements and credit creation : is debt industry permissible ?. 2012-07-18.
https://search.emarefa.net/detail/BIM-730803
American Medical Association (AMA)
Qahf, Mundhir. 2012-07-18. Debts in the economy, reserve requirements and credit creation : is debt industry permissible ?.
https://search.emarefa.net/detail/BIM-730803
