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Fixed Fees For Loan?
Assalamualaikum
Any extra money upon loan is interest (like fixed profit). But today there is banking system and we usually take loans from bank, so is bank is giving you loan without interest and just taking a fixed fees for it’s service would that be included in interest?
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1 Reply
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Fixed Fees For Loan?
updated 3 years, 7 months ago
2 Members
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1
Reply
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Banks generally don’t operate in that manner, but a reasonable service fee in order to process a loan is not considered riba.
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