Question:
Salamulaykum
I am a college graduate working as a policeman in the US. When I was in school I took out student loans even though they had interest. There are not Islamic banks or well funded Islamic organizations in my area and I am aware that interest is haram in our deen and was vehemently opposed to this. I have two questions: 1) Should I repay these loans even though its has interest? 2) By taking these loans have I committed a sin?
Answer:
A`udhu billahi min ash-shaytan ir-rajeem
Bismillahi ‘r-Rahmani ‘r-Raheem
The Ulama agreed that any loan with interest is Haram. Repent and ask forgiveness and promise not to do it again. Unless you can avoid paying the interest, pay it as you are forced to do so, but hate it in your heart.
Imam Senad Agic
American Islamic Center – Chicago
Majlis #1 Head Imam (IABNA)
www.aicchicago.com
www.imamsenadagic.com
www.iabna.org
