Borrowing and repaying debts

14-4-2005 | IslamWeb

Question:

I read from your site that all currency like dollar have the same Hukum to gold and silver, and I know that is not allowed to take a gold in order to give the same weight of the gold later on. My question is: Is it allowed to borrow 100 dollar or pound in order to give after one month the same price.

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Answer:

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger. We ask Allaah to exalt his mention as well as that of his family and all his companions.

 

Borrowing money is not considered purchasing, selling or exchanging, and thus, the prohibition of delaying the payment (of the loan) does not apply to this issue.

Allaah knows best.