Praise be to Allaah.
The Muslim should not be
heedless with regard to the issue of debt, and take huge amounts of debt
upon himself when there is no urgent need to do so. The Prophet (peace
and blessings of Allaah be upon him) used to seek refuge with Allaah from
debt, and he used to say: “O Allaah, I seek refuge with You from sin and
debt.” Someone said to him: How often you seek refuge from debt, O Messenger
of Allaah. He said: “When a man incurs debt, when he speaks he lies and when
he makes a promise he breaks it.” Narrated by al-Bukhaari (2397) and Muslim
And the Prophet (peace
and blessings of Allaah be upon him) stated that the shaheed (martyr) would
be forgiven for everything except debt. Narrated by Muslim. This is
indicative of the seriousness of debt.
We do not advise you to
engage in what is called “muraabahah” unless you are forced to do so or
there is an urgent need for money.
The Muraabahah transactions
that are offered by some banks are, in many cases, not free of Islamically
objectionable factors. It may be a sale transaction on paper only, and a
trick to engage in riba (usury). Many scholars and researchers have warned
Before entering into it, it
is essential to make sure whether it is in accordance with sharee’ah.
For information on the
conditions of it being permissible – according to those who regard it as
permissible – please see the answer to question no.
Also see the answer to question no. 111896.
And Allaah knows best.