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Taking Debt Unnecessarily
Salam,
If a person takes debt for the purpose of having better/comfortable life eg car/bike loan, loan for making business bigger. Etc and determined to pay it back. Is it haram?
As I studied debt is like begging. And we should not ask it until we need it very much like for food/home etc..
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1 Reply
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Taking Debt Unnecessarily
updated 2 years, 7 months ago
2 Members
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1
Reply
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It is an individual’s decision depending on one’s financial condition, nature of one’s need and ability to pay back borrowed amount on time etc.
It is not a religious issue as long as one pays it back on time.
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