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Borrowing Money From A Friend For Business
As-salāmu ʿalaykum – ٱلسَّلَامُ عَلَيْكُمْ
A friend of mine has asked this question.
He is a businessman and want to borrow £25,000 from a friend to be used for his business.
He wants to avoid paying interest to his friend.
On what basis he can handle this loan from his friend. How can he pay back profit plus original amount to his friend?
His friend cannot lend him on Qard Hasana basis.
I hope you can advise please.
May Allah reward you immensely- Ameen!
Ahmad Jamal
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1 Reply
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Borrowing Money From A Friend For Business
updated 1 year, 1 month ago
2 Members
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1
Reply
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He can consider it as principal-secured financing in his business.
For details, please refer to the video below from 1:15:47 to 1:20:12
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