Ruling on transferring a loan to another person in exchange for compensation
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This is a man whose name came up in the real estate bank, and then he transferred it to another person in exchange for sixty thousand riyals. Is this permissible?
This is not permissible, because a person’s right in the real estate bank is a right of usufruct. If he is still in need of using this loan, let him do so. If he is not in need, he should leave it alone, and it is not permissible for him to take compensation for it. There are people you find waiting for when their names come up,It is said: either to benefit from it if you are in need, such as if he has built the house he started building but borrowed from people to build it, in which case he is in need and takes the loan,Or it can be said: or you have finished, so you have no need for it.
The questioner: Is the money he took considered riba?The Shaykh: This is riba and also injustice, because the money is his right.
This is not permissible, because a person’s right in the real estate bank is a right of usufruct. If he is still in need of using this loan, let him do so. If he is not in need, he should leave it alone, and it is not permissible for him to take compensation for it. There are people you find waiting for when their names come up,It is said: either to benefit from it if you are in need, such as if he has built the house he started building but borrowed from people to build it, in which case he is in need and takes the loan,Or it can be said: or you have finished, so you have no need for it.
The questioner: Is the money he took considered riba?The Shaykh: This is riba and also injustice, because the money is his right.