The Ruling on Taking a Riba-Based Bank Loan in a State of Dire Necessity
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Question:
If I am in dire need of a large sum of money, and I have no option but to borrow from the bank, knowing that the bank adds an amount to the principal upon repayment, what is the solution? May Allah reward you with good.
Answer:
It is not permissible for you to take riba under any circumstances, even if you are in need. Seek other ways: borrow from your good brothers, or buy a commodity on credit and sell it. This is called al-wa'dah. The scholars call it tawarruq. You buy a commodity on credit: you buy a car or something else, then you sell it and fulfill your need.
As for taking a loan with riba, it is not permissible, even if you are in need, even for marriage, or to pay off a debt. It is not permissible for you to take riba ever. Allah has made other ways easy for you besides riba.
If I am in dire need of a large sum of money, and I have no option but to borrow from the bank, knowing that the bank adds an amount to the principal upon repayment, what is the solution? May Allah reward you with good.
Answer:
It is not permissible for you to take riba under any circumstances, even if you are in need. Seek other ways: borrow from your good brothers, or buy a commodity on credit and sell it. This is called al-wa'dah. The scholars call it tawarruq. You buy a commodity on credit: you buy a car or something else, then you sell it and fulfill your need.
As for taking a loan with riba, it is not permissible, even if you are in need, even for marriage, or to pay off a debt. It is not permissible for you to take riba ever. Allah has made other ways easy for you besides riba.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.