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Is It Permissible To Adjust Inflation
Assalam o Alaikum
My question is whether it is permissible to adjust the percentage of inflation against the loan given by a bank to an individual.. For example, if a person borrows $1000 today, which is payable after 5 years, and during that time period, the value of $1000 increases to $1100 due to inflation. In such a scenario, is the bank allowed to receive $1100, or the $100 exceeding the original amount will be considered as riba?
In other words, is receiving the inflated amount($100) considered as riba, or the amount charged in excess of the inflated amount (if the bank charges interest of more than $100) is considered as riba?
Jazak-Allah
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Is It Permissible To Adjust Inflation
updated 3 years, 9 months ago
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