Disposing of a house purchased with a riba (usury or interest) loan
Machine translationRead the Arabic original
Question:
Honorable Shaykh, a questioner says: I bought a house and took out a loan from a riba bank for it. At that time, I was ignorant of the ruling; in fact, 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 to finish what I did, or should I keep it and then rent it out?
Answer:
If you sell it and pay off the bank the money they lent you, there is no harm. If you rent it out and pay the bank from the rent, since the bank has a debt against you, you should give in charity the amount of the riba the bank added to your debt. Give in charity the amount corresponding to the riba and the increase calculated on it, so that you may get rid of it. Perhaps Allah will accept your repentance.
Honorable Shaykh, a questioner says: I bought a house and took out a loan from a riba bank for it. At that time, I was ignorant of the ruling; in fact, 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 to finish what I did, or should I keep it and then rent it out?
Answer:
If you sell it and pay off the bank the money they lent you, there is no harm. If you rent it out and pay the bank from the rent, since the bank has a debt against you, you should give in charity the amount of the riba the bank added to your debt. Give in charity the amount corresponding to the riba and the increase calculated on it, so that you may get rid of it. Perhaps Allah will accept your repentance.
Source
75-اللقاء الأسبوعي مع الشيخ صالح الفوزان - 26 — archive.org (1:02:51)
The Arabic text is a machine transcription of the audio recording.