Faith IQ – Can I Sell My Car To Someone Paying It Off By A Bank Loan

Faith IQ

Shaykh Abu Eesa explains

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The speakers discuss the concept of a bank loan and the use of conventional banks as a means of borrowing money. They also discuss the history of the Islamic government and the use of interest rates for banks. The speakers emphasize the importance of avoiding banks and not allowing anyone to take out a loan to avoid future problems.

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			Can I sell my car to someone who's paying by a bank loan.
		
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			So, of course, when it comes to the idea of a bank loan, we're talking about a conventional bank. So
we're assuming that this person has taken out a short short term or a long term loan that has an
APR, or an interest rate. So they're going to be basically paying more back to the bank than what
they borrowed, which is the exact definition of river river is any increase on a loan, okay, any
increase that or any benefit that is received to the lender, that that they receive when they give
out a loan, so a bank, of course, it deals in interest, and conventional banks are, you know, that
we've learned to our expense over the last 10 years with all of the crises that we've been through,
		
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			that these banks are causing incredible difficulties and problems around the world with the concept
of capitalism and interest. But anyway, this is not a discussion about that. The Islamic ruling on
you, the third party, selling a car, hello, sell Hello, hello.
		
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			approach to other people for them to buy it, okay, nothing wrong with your side. But then a person
comes to you, obviously, you do not have to ask the person where they got the money from. However,
if you suspect or you have reason to believe, or they tell you, then is it permissible to take that
		
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			we're going to separate between a number of issues here, there are technical legal matters, and
there are an Islamic, there's an Islamic and ethical kind of approach to this as well, ethically, we
should not be supporting any banks, there's no doubt about that conventional banks should not be
supported, we should be encouraging people not to get into debt, let alone Yeah, and not even borrow
money. Because the idea is, is that
		
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			if we can encourage people to as mums used to say go to the length of each other, right? Just look
to what you can afford, and not have to get involved in credit and debt. And I'm talking interest
free. And this is a good thing. However, it is permissible to borrow money, and it's permissible to
lend money. And so therefore, if someone really wants something, and they're happy to give it and
they're confident that they can repay that person, then Okay, that's allowed. But of course, a
conventional bank, which is forcing them to pay interest, that's something which is impermissible
for a person to take out to enact to do the contract. And there are a number of levels of sin that
		
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			are involved with respect to the river, I mean, there's no doubt that is not the same to receive
interest, ie the sin of the bank, like and that can't be held as equal to the person who pays the
interest. Okay. It's haram to do that have no doubt about it, you are declaring war against Allah
and His Messenger involved in this horrible dirty game. But to pay the interest being a major sin is
not as sinful as receiving, which is not as sinful as for example, agreeing to pay interest, but not
even ending up paying it. In the end, you know, the concept behind credit cards. So person says,
Yeah, I will pay interest, but then they try and get rid of it. And maybe in a loan as well, it
		
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			tried to pay off very quickly and avoid paying the interest but at least they still agreed to do
something wrong. So all these three acts are Haram, but they're not of the same level. ethically, we
don't want to allow a new transaction to occur for the bank, we don't want to encourage this kind of
behavior. So does it stink? Yani, you know, to be involved in this ethically? Is it wrong? Of course
it is. It's a black, there's no doubt about it. But is it permissible for you technically to receive
that money? The answer is actually Yes. Legally, the money itself. Okay. So if I, if I sold my car
for 5000 pounds, the 5000 pounds a person gives me that's pure and clean money. What was haram was
		
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			the transaction, the manner that it was received? The money itself is clean, if you like, Okay. And
as I said, this is like sounds like a kind of way getting around that there's no doubt that it is
there's no doubt that it stinks ethically. But is it legally correct and permissible for you to take
that money, per se? Yes. Should we encourage that person to take their bank loan? Of course we
shouldn't. Is it allowed for that person to take that bank loan? No, it's not of course you
shouldn't. But this money itself, is it pure and clean? It is it is permissible to receive that
money for your car, whether it's from a Muslim or non Muslim, that's my position, and not us
		
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			content. And as best Hey, thank you for watching and subscribe so you can continue to get the rest
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Does that Kamala Harris philarmonic Rahmatullah.