What is the ruling on buying a loan from another person for a real estate bank and making the payments?
Machine translationRead the Arabic original
Question:
He says: Is it permissible for me to buy the loan that a person owes to the real estate bank and for me to make the payments, either in full or in installments?
Answer:
No, this is not permissible. Buying the loan is exchanging dirhams for more or fewer dirhams, which is riba (usury or interest). If you do not need the loan, go to the bank and tell them to transfer it from your name to someone else’s name. It is not your property to sell. This is one aspect. The other aspect is that this is riba, which is selling dirhams for dirhams.
He says: Is it permissible for me to buy the loan that a person owes to the real estate bank and for me to make the payments, either in full or in installments?
Answer:
No, this is not permissible. Buying the loan is exchanging dirhams for more or fewer dirhams, which is riba (usury or interest). If you do not need the loan, go to the bank and tell them to transfer it from your name to someone else’s name. It is not your property to sell. This is one aspect. The other aspect is that this is riba, which is selling dirhams for dirhams.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم شراء قرض على شخص آخر للبنك العقاري والقيام بالتسديد؟ للشيخ الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.