Office Of Grand Ayatollah Sayyed M.S.Al-Hakeem


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Lending & Borrowing
Q [1]  If an interest-free loan has been given for a two-years fixed period, against guaranteed gold value. is this deal permissible?
The mentioned deal of borrowing is permissible.
Q [2]  Some lending institution asks people who are interested in borrowing to bring a guarantee of gold-jewelry. They value the gold by their authorized gold-smith to be less than the market value. It is allowed to borrow from such an institute?
If the guaranteed gold is valued to be less than its market value and such a way of estimation is a condition in the borrowing deal, then such a deal is invalid.
Q [3]  If an interest-free loan is given with the guarantee of two reliable people that if the receiver will not return the amount on the due date, the guarantors will be obligated to pay the entire amount. Is this deal with the mentioned condition permissible?
Yes, it is permissible.
Q [4]  In a lending deal, the lender arranges for the return of his money by monthly payments given to him by signed checks. Is this deal is permissible?
If the amounts of the checks add up to be the exact borrowed amount, then the deal is valid.
Q [5]  Is it permissible to work in determining the eligibility of customers to take out mortgage loans from various lending companies? Is the income of such an employee who deals in such a way with interest-based loans considered lawful?
It is prohibited to draft or write the contract for the loan agreement that involves interest or to do anything that is related to it, like calculating the balance of what the client owes.
It is permissible to work in determining the eligibility of the customer to take the loan.
Q [6]  I gave a loan to an unemployed person, and then he found work in selling wine. After he earned money through this work he repaid his debt to me. Is this money lawful for me?
If he was selling the wine to Muslims only then his money is unlawful, if he was selling it to non-Muslims, and paid off his debt from this money then it is permissible to use the given money. The same applies if he was selling the wine to both Muslims and non-Muslims.

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