Ruling on Interest-based Loan


Ruling on Interest-based Loan

  1. Is Taking an Interest-based Loan to Study abroad permissible? NO

Taking an interest-based loan (Riba) is prohibited and it is a form of cooperating in evil; Allah The Almighty Says (what means): {And cooperate in righteousness and piety, but do not cooperate in sin and aggression. And fear Allah; indeed, Allah is severe in penalty.} [Quran 5:2] Therefore, it is not permissible to borrow money and pay Riba unless there is a dire need, and studying is not a necessity which allows one to commit what is prohibited. You must sincerely repent to Allah for having borrowed an interest-based loan and be determined never to commit this sin again.


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