Question Summary:
Many banks in pakistan offer loan without interest for HAJ. Is this allow in Islam to take loan from bak without interest and give some of the % before and rest in installemnet after HAJ. If no then why Banks like meezan , dubai islamic offering it.

Question Detail:

Many banks in pakistan offer loan without interest for HAJ. Is this allow in Islam to take loan from bak without interest and give some of the % before and rest in installemnet after HAJ. If no then why Banks like meezan , dubai islamic offering it.

Answer :

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In the name of Allāh, Most Gracious, Most Merciful

Assalāmu ῾alaykum wa Rahmatullāhi Wabarakātuh
 
Providing loans is highly encouraged. Hadhrat Anas radiyallāhu ῾anhu narrates that Rasullullāh sallallāhu ῾alaihe wasallam said“I saw on the night that I was taken for Isrā’ (Me῾rāj). On the door of Jannat was written: the reward of charity is multiplied ten times and the reward of loan eighteen times. I asked Jibrīl ῾alaihe salām why the lender was given more virtue than the one who gave charity. Jibrīl ῾alaihe salām replied that a beggar begs when he has (at least) something by him while the person asking for a loan, only asks when he is in dire need (in other words he is stranded, therefore helping such a person will earn more reward) ”.^[1]
(Sunan Ibn Mājah, pg.175)
 
We are researching the issue of interest free loans from Banks in Pakistan. We will revert to you once after research is finalized.


And Allāh Ta῾āla Knows Best
Wassalāmu ῾alaykum

Ml. Abduz Zaman,
Student Dārul Iftā
Checked and Approved by:


Mufti Ebrahim Desai
Dārul Iftā, Madrasah In῾āmiyyah