FAQ #20: Are there any similar fatwa globally for the position above (on taking a second usurious loan)?

Question answered by Ustaz Haron Masagos of FAiWA.

Yes, there are 2 fatwas concerning the above. And it’s only fair if we read all their conditions.

  1. The opinion is based on The European Council for Fatwa and Research (ECFR) & Sheikh Yusuf Al-Qaradawi for Muslims who lives in non-muslim Majority countries. The fatwa comes with a detailed condition. Please see the link https://www.e-cfr.org/blog/2017/11/04/fourth-ordinary-session-european-council-fatwa-research/
  2. The Assembly of Muslim Jurists of America (AMJA), although the fatwa allows purchasing a primary residence with usurious loans, however, this fatwa encourages if a person can rent without causing himself much hardship then he should be content to do so. Please see the link here https://www.amjaonline.org/amja-resident-fatwa-committee-resolution-about-islamic-home-financing-companies-in-the-us/

Explore More