Business Loan - Interest - Conventional Loan

As'salam Brothers and Sisters,


I have a question regarding business loan. As you know, conventional loan is not permitted in our religion due to riba'. It's haram.


What if we tried to get islamic loan, but none of the islamic bankers offering us facilities. For the sake of company and its staff, if we don't take the loan, the company will be closed, are we allowed to take non islamic loan as temporary solution? Once the time permits, we will convert those facilities to islamic method.


Appreciate your respond. We just want to do the way Allah permits us. InshaAallah everything will be eased.

Wa'alaykumussalaam and Ramadan mubarak

May Allah make it easy for you. How are you going to convert the non Islamic loan to Islamic loan?
What if you cannot get any Islamic loan for years, you will end up paying interest (riba) for years. Is there any asset you can sell to come up with some money?

I've seen a TV fatwa which said itvis permissible in the west or non islamic countries. There are different opinions about the topic.

There is an option that a person lends you money.
Please ask your relatives, wealthy muslims around etc.

Alternatively if you have existing debt, talk to debt consolidator. A lot of times they can reduce your debt inshaAllah that will happen for you as well.
Also, connect with other muslim businesses, they may know solution to your problem because they have been there before or least they can point you at the right direction.
May Allah make it easy for you.

IslamLife00 said:

Wa'alaykumussalaam and Ramadan mubarak

May Allah make it easy for you. How are you going to convert the non Islamic loan to Islamic loan?
What if you cannot get any Islamic loan for years, you will end up paying interest (riba) for years. Is there any asset you can sell to come up with some money?

Click to expand...

Sorry, I may use the wrong word. Convert from non islamic to islamic loan I mentioned before is actually to apply again and take islamic loan when islamic bankers offer us.

anyway, a conventional bank offer us facilities but I am still trying and some islamic bank not get back to me yet on the application status. Hope Islamic bank gives us facilities we request. Please pray for me they accept my application and this problem solved.

Murid said:

I've seen a TV fatwa which said itvis permissible in the west or non islamic countries. There are different opinions about the topic.

There is an option that a person lends you money.
Please ask your relatives, wealthy muslims around etc.

Click to expand...

thank you for the suggestion but the amount required is pretty big. About USD250k-500k. None of my family members or relative are wealthy enough to help me with that amount.

i am still waiting from islamic bankers. Hope at least 1-2 of them will able to give facilities to me. Pray for me. Amin.

IslamLife00 said:

Alternatively if you have existing debt, talk to debt consolidator. A lot of times they can reduce your debt inshaAllah that will happen for you as well.
Also, connect with other muslim businesses, they may know solution to your problem because they have been there before or least they can point you at the right direction.
May Allah make it easy for you.

Click to expand...

Amin. My problem is not about the debt but company survival. Previously, our supplier giving credit but due to their management change, credit is impossible and at the same time, they give higher price. In a way, they slowly kill us.

To survive, we need to have our own capital, manufacture ourselves which require quite big investment.

Thanks for your reply brother/sister. May Allah ease us all.