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Borrowing Money From One Of Those Microfinance Banks - Islam for Muslims - Nairaland

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Difference Between Riba-based Banks And Islamic Banks / Rules Guarding The Issue Of Borrowing And Lending In Islam / Opening An Account With Riba Based Banks (2) (3) (4)

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Borrowing Money From One Of Those Microfinance Banks by slenderBeam1: 4:00pm On Aug 18, 2020
Please, can I lend a friend some amounts to borrow from a microfinance bank? I'm a tricycle driver, likewise that friend under discussion. He wants to buy a used tricycle and needs to borrow. So he asked for my assistance to lend him 6k to complement the 20k he wants to borrow. He actually wants to borrow 200k or thereabouts..
JazzaakumuLlah khairan as you respond evidently and promptly.
Re: Borrowing Money From One Of Those Microfinance Banks by iamgenius(m): 9:30am On Aug 30, 2020
slenderBeam1:
Please, can I lend a friend some amounts to borrow from a microfinance bank? I'm a tricycle driver, likewise that friend under discussion. He wants to buy a used tricycle and needs to borrow. So he asked for my assistance to lend him 6k to complement the 20k he wants to borrow. He actually wants to borrow 200k or thereabouts..
JazzaakumuLlah khairan as you respond evidently and promptly.
Bismillah. If the microfinance bank will collect interest on the money they want to lend your friend, then it's not permissible for you to lend him the money.

If you do, you're helping him in committing a crime of Riba. And Allah says we shouldn't help each other in sin.

And Allah knows best.

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Re: Borrowing Money From One Of Those Microfinance Banks by slenderBeam1: 10:23am On Aug 31, 2020
iamgenius:

Bismillah. If the microfinance bank will collect interest on the money they want to lend your friend, then it's not permissible for you to lend him the money.

If you do, you're helping him in committing a crime of Riba. And Allah says we shouldn't help each other in sin.

And Allah knows best.

JazaakumuLlahu khayran...
Re: Borrowing Money From One Of Those Microfinance Banks by OtemAtum: 10:13pm On Aug 20, 2021
What is this? shocked shocked

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