Is it permissible to take out a maintenance loan?
QUESTION:
I am a university student and would like to know if it’s permissible to take out a maintenance loan. This will be paid directly to me for expenses. However I am aware that there is interest involved and would therefore like more guidance. I asked the university imam and he said it would be permissible. What would you advise me ?
ANSWER:
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
In principle, to take a loan in which interest is involved is harām (unlawful). A maintenance loan is such a loan wherein either 6% or 9% of interest is paid. The only situation where interest would not be included is if the person who has taken the loan earns lower than the threshold. [1] As a result, it is impermissible to take out a ‘maintenance loan’. [2]
Allah Ta’ālā has waged war with those people who deal in interest:
یَـٰۤأَیُّهَا ٱلَّذِینَ ءَامَنُوا۟ ٱتَّقُوا۟ ٱللَّهَ وَذَرُوا۟ مَا بَقِیَ مِنَ ٱلرِّبَوٰۤا۟ إِن كُنتُم مُّؤۡمِنِینَ ٢٧٨ فَإِن لَّمۡ تَفۡعَلُوا۟ فَأۡذَنُوا۟ بِحَرۡبࣲ مِّنَ ٱللَّهِ وَرَسُولِهِ
Translation: “Oh you who have believed, fear Allah and give up what remains [due to you] of interest, if you are believers. And if you do not, then be informed of a war [against you] from Allah and His Messenger.” [2:278-279]
May Allah Ta’ālā keep you steadfast upon His religion and grant you sustenance from permissible and lawful avenues. Āmeen.
And Allah Ta’ālā Knows Best
Concurred by:
Hanif Yusuf
References
[1]
https://www.gov.uk/repaying-your-student-loan/what-you-pay
[2]
وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا
[al-Qur'ān: 2:275]
والتجارة نوعان: حلال يسمى في الشرع بيعا وحرام يسمى ربا، كل واحد منهما تجارة، فإن الله أخبر عن الكفرة إنكارهم الفرق بين البيع والربا عقلا، فقال عز وجل: {ذلك بأنهم قالوا إنما البيع مثل الربا} [البقرة: 275]، ثم فرق بينهما في الحل والحرمة بقوله تعالى: {وأحل الله البيع وحرم الربا}
[al-Mabsūt li al-Sarakhsī: DKi: 12:126]
وفي الشرع: الزيادة المشروطة في العقد، وهذا إنما يكون عند المقابلة بالجنس
وقيل الربا في الشرع عبارة عن عقد فاسد بصفة سواء كان فيه زيادة أو لم يكن، فإن بيع الدراهم بالدنانير نسيئة ربا ولا زيادة فيه. والأصل في تحريمه قوله تعالى
{وأحل الله البيع وحرم الربا} [البقرة: 275]
[al-Ikhtiyār li Ta'līl al-Mukhtār: al-Risālāt al-Ālamiyyah: 2:70]
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Posted in Daily MattersBuyoo' (Money-related issues)Halaal & Haraam on 22nd Apr 2022 by Our Imam | 513 Views
