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My husband took a home loan and bought a new flat 2 years back.

Mu' meneen Brothers and Sisters,

As Salaam Aleikum wa Rahmatullahi wa Barakatuh. (May Allah's Peace, Mercy and Blessings be upon all of you)

 

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Assalamalaikum

My husband took a home loan and bought a new flat 2 years back . Since then we have been staying on our house & paying EMI every month. But now since last 6 months alhamdullilah we both have been taking lots of effort to come closer to Islam & have realised that even giving interest is haraam. Initially we thought that only taking interest from banks is haraam. Now that we have already taken loan with interest & also realized that its haraam to do so, please do suggest what we shud do now? We have already committed a great sin & now we are looking for ways for repentance. Please do help us. Also, let us know whether keeping money in fixed deposit is sin or not as ultimately after some years the money multiples due to interest. does that money also become haraam?

 

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Answer:

 

Bought house on loan interest

In the name of Allah, We praise Him, seek His help and ask for His forgiveness. Whoever Allah guides none can misguide, and whoever He allows to fall astray, none can guide them aright. We bear witness that there is none worthy of worship but Allah Alone, and we bear witness that Muhammad (saws) is His slave-servant and the seal of His Messengers.

 

Allah says in the Holy Quran Chapter 2 Surah Baqarah verse 274-276:

But those who devour riba become like the one whom Shaitaan has bewitched and maddened by his touch. They have been condemned to this condition because they say, Trade is just like riba, whereas Allah has made trade halaal and riba haraam. Henceforth, if one abstains from taking riba after receiving this admonition from his Lord, no legal action shall be taken against him regarding the riba he had devoured before: his case shall ultimately go to Allah. But if one repeats the same crime even after this, he shall go to Hell, where he shall abide for ever! Allah deprives riba of all blessing and develops charity, and Allah does not like an ungrateful, sinful person.

 

Allah says further in the Holy Quran Chapter 2 Surah Baqarah verse 278:

O Believers!, fear Allah and give up that riba which is still due to you, if you are true believers. But if you do not do so, then you are warned of the declaration of war against you by Allah and His Messenger!

 

Allah says in the Holy Quran Chapter 4 Surah Nisa verse 161:

That they took riba, although they were forbidden. And that they devoured mens substance wrongfully. We have prepared for those among them who reject faith a grievous punishment (of Hell Fire)!

 

Al-Tirmidhi Hadith 2827 Narrated by Abdullah ibn Mas'ud

Allah's Messenger (saws) said, "Even though usury be much, it leads in the end to penury."

 

Al-Tirmidhi Hadith 2829 Narrated by Ali ibn AbuTalib

Ali said he heard Allah's Messenger (saws) invoke the curse of Allah on those who took usury, those who paid it, those who recorded it, and those who refused to give sadaqah.

 


Dear and beloved brother in Islam, it is neither the taking out of a loan nor a mortgage which by itself is unlawful or prohibited in Islam; what is unconditionally and specifically and categorically prohibited and absolutely unlawful in the Sight of Allah Subhanah is the interest element in the conventional interest-based loans and mortgages.

 

There is absolutely no harm in Shariah if one wishes or needs to take out a loan or a mortgage to fulfill their needs, provided the loan/mortgage is Shariah compliant and thus free of interest; but to indulge in an interest-based loan or mortgage would indeed be absolutely against the Guidance, Commands and Boundaries of Allah Subhanah.

 

Your Question: Now that we have already taken loan with interest & also realized that its haraam to do so, please do suggest what we shud do now?

Whatever deeds one might have done, if one turns to Allah Subhanah in sincere Taubah and seeks forgiveness, Allah Subhanah has promised in the Holy Quran that He will forgive all the sins of such a believer, even if one has committed the gravest sin of all: Shirk! Not only that, our Lord is so Merciful and Generous, that He not only will forgive the sins of the believer, He will change his evil deeds done into good deeds!

 

The conditions or ways to seek sincere Taubah or Repentance from the Merciful Lord are:

  • One is aware that he has sinned, and feels sorry and ashamed at his sin.
  • Makes a solemn covenant and promise with Allah that he will not repeat his sin again.
  • Turns to Allah and seeks forgiveness, before he has met with his appointment of death.
  • Is a believer and does righteous good deeds thereafter.

 

Allah says in the Holy Quran Chapter 39 Surah Zumur verses 53-54:

(O Prophet) say: O My servants who have wronged their own souls.Do not despair of Allahs Mercy! Surely, Allah forgives all sins. He indeed is the All Forgiving, All Merciful. Return to your Lord and submit to Him before the scourge overtakes you; for then you may get no help from anywhere.

 

Allah says in the Holy Quran Chapter 3 Surah Ale Imraan verse 135-136:

Allah likes such good people very much, who, if ever they commit a base deed or wrong their own soul by the commission of a sin, remember Allah instantly, and ask for forgiveness from Him for their shortcomings. For who, but Allah, can forgive sins? (And Allah loves those) who do not knowingly persist in the wrongs they did. These will be rewarded with forgiveness from Allah, and with Gardens beneath which canals flow, and they will reside therein forever! How excellent is the reward of those who do good deeds!

 

Allah says in the Holy Quran Chapter 6 Surah Anaam verse 54:

When those come to you who believe in Our Signs, say: "Peace be on you! Your Lord had inscribed for Himself (the rule of) Mercy. Verily if any of you did evil in ignorance, and thereafter repented and amended (his conduct), Lo! He is Oft-Forgiving, Most Merciful."

 

First and foremost sister, you should turn in taubah unto your Lord Most Gracious and seek sincere forgiveness for the transgression occurred at your hands in ignorance of the Laws of Shariah..if you are indeed sincere in your repentance, it is expected that you will find your Lord Forgiving and Merciful.

 

Secondly, fear Allah, and do whatever is in your power and control and ability to come out from the indulgence in riba as soon as you possibly can.either by paying off the loan if you have the means, or by getting the house re-financed through a Shariah-compliant Islamic bank or financial institution, etc..basically do whatever it takes to take yourselves out of the clutches of the abomination of riba. If you make sincere intention and do the necessary striving to save yourself from the unlawful indulgence in riba only for the Sake and Fear of your Lord, rest assured that your Lord Most Gracious will accept your piety and your obedience and will guide you to the right way, Insha Allah.

 

Your Question: .Also, let us know whether keeping money in fixed deposit is sin or not as ultimately after some years the money multiples due to interest. does that money also become haraam?

Allah Says in the Holy Quran Chapter 3 Surah Ale-Imraan verses 130-132:

130 O ye who believe! Devour not riba doubled and multiplied; but fear Allah; that ye may (really) prosper.

131 Fear the Fire which is prepared for those who reject faith.

132 And obey Allah and the Messenger; that ye may obtain mercy.

 

Earning interest by keeping money in a fixed deposit in a conventional interest-based bank or financial institution, would without an iota of a doubt be unlawful earnings in the Sight of Shariah Law and of Allah Subhanah; and the believers must fear Allah, and absolutely abstain from all such unlawful earnings. One is entitled in Shariah to use and consume their lawful principal amount, but to take, use, or consume the riba or interest such principal earns through a conventional interest-based fixed deposit would indeed be a manifest transgression of the Laws of Shariah, and an abomination of a sin in the Sight of the Lord Most High.

 

Allah says further in the Holy Quran Chapter 2 Surah Baqarah verse 278:

O Believers!, fear Allah and give up that riba which is still due to you, if you are true believers. But if you do not do so, then you are warned of the declaration of war against you by Allah and His Messenger!

 

Allah says in the Holy Quran Chapter 4 Surah Nisa verse 161:

That they took riba, although they were forbidden. And that they devoured mens substance wrongfully. We have prepared for those among them who reject faith a grievous punishment (of Hell Fire)!

 

If one trusts, obeys, and follows the guidance and commands of Allah and His Messenger (saws), one can be assured of never ever being misled; but if one believes, obeys and follows any other guidance, other than that of Allah and His Messenger (saws), one can be assured of being led astray.

 

Whatever written of Truth and benefit is only due to Allahs Assistance and Guidance, and whatever of error is of me alone. Allah Alone Knows Best and He is the Only Source of Strength.

 

Your brother and well wisher in Islam,

 

 

Burhan

 


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