What should one do if he borrowed from an interest-bearing bank, ignorant of the ruling, to build a house, and paid half the loan, with the other half remaining?
Machine translationRead the Arabic original
Question:
Welcome, I am listening to you, Honorable Shaykh. This young man says: I bought a house and took out a loan from an interest-bearing bank for it. I was bold in my judgment at that time, or rather, I was completely far from Islam. The loan term is eight years; I have paid for four years, and half remains. What should I do now? Should I sell the house and return the money to the bank so that I am done with what I did, or should I keep it and then rent it out?
Answer:
If you sell it or pay off the bank, there is no harm in the money you pay them. If you rent it out and pay the bank from the rent, since the bank has a debt against you, and the interest that increased and the amount you owe, you should give it in charity to get rid of it. So calculate the interest increase that was added, and give in charity the amount of money equivalent to it to be rid of it. Perhaps Allah will accept your repentance.
Welcome, I am listening to you, Honorable Shaykh. This young man says: I bought a house and took out a loan from an interest-bearing bank for it. I was bold in my judgment at that time, or rather, I was completely far from Islam. The loan term is eight years; I have paid for four years, and half remains. What should I do now? Should I sell the house and return the money to the bank so that I am done with what I did, or should I keep it and then rent it out?
Answer:
If you sell it or pay off the bank, there is no harm in the money you pay them. If you rent it out and pay the bank from the rent, since the bank has a debt against you, and the interest that increased and the amount you owe, you should give it in charity to get rid of it. So calculate the interest increase that was added, and give in charity the amount of money equivalent to it to be rid of it. Perhaps Allah will accept your repentance.
Source
قناة «العلامة الدكتور صالح الفوزان»، ماذا يفعل من اقترض من البنك الربوي جاهلًا لبناء بيت، ودفع نصف القرض، وبقي النصف الآخر؟ — youtube.com
The Arabic text is a machine transcription of the audio recording.
