Monday, January 17, 2022 - 15 Jumada al-Akhirah 1443

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What type of bank loans is considered halal, like this exist in nowadays

What type of bank loans is considered halal, like this exist in nowadays?

Answer

Permissible bank loans include:

- Investment financing contracts.
- Mortgage loans.
- Commodity loans.
- Buying through the bank (where the bank buys the commodity and then sells it to the client).
- Personal loans in case of a pressing need.