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Buying s Tractor on Interest PDF Print E-mail

Buying s Tractor on Interest

Question: What do the Ulema of Deen and the Muftis have to say about the situation in which I as a farmer need to purchase a tractor, which I need from time to time. Tractors can be bought only through an international bank, which charges Interest on the instalments What does the Shari'ah say about time purchasing the tractor through the bank?

Answer: The loan is one of interest since the bank takes from you more than the price of the tractor. You should therefore make do without the tractor and content yourself with a smaller produce. It you have to purchase one, try to buy it cash because taking a loan on interest is not permitted unless under extenuating circumstances. In fact, even in Duurul Harb where is it permissible to take interest from a Harbi person, it is not at all permissible to pay interest.

Fatawa Rahimiyyah vol.3

 
 

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