I am running a business and I would like to take loan from a bank to buy larger property for business expansion.
The property reamins with bank as collateral until debt is paid off.
Bank asks for 10% deposit.
Bank asks for 10% interest.
Is this permissible in Islam? Are there any other options on how I could expand business operations?
Asked by Faiz Mohamed Haneef
(121 rep)
Aug 14, 2019, 12:55 PM