[Loans to employees]

Fatawa Question

Dearest Dr. Monzer, As-Salamu `Alaykum, Hope you are well and at the best of health and faith. Could you kindly reply to the following question ? As-Salaamu `Alaykum. I am working in a government organization which engages maritime business. The employees of this organization are entitled to apply for the various types of loan (vehicle loan, ten month loan, etc.) based on their job category. Although these loans are interest based, the interest is very low comparing to the bank. I’m also thinking of applying for loan to buy a vehicle since I don't have one. But some fellow Muslim employees say it is Haram. Others say it is acceptable since I don't have any other options. Please clarify this to me. Jazaka Allah Khairan.

Fatwa

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Publication Date

2011-07-13

Main Subjects

Financial and Accounting Sciences
Islamic Studies

Topics

• Islamic jurisprudence
• Loans

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-732871

• APA
• MLA
• AMA