Repent to Allaah and you do not have to hasten to pay off the riba-based loan
Question I got married and lived in a small apartment for four years. When I was blessed with a child, we wanted to move to a bigger apartment, so I sold this apartment and used the price as a 50% down payment for a new apartment in a new suburb, and I wanted to pay…
Question
Praise be to Allah.
Taking loans from banks or elsewhere under the interest
system is a form of jaahili riba which was abolished by Islam, and declared
to be extremely haraam, and concerning which a warning is issued that is not
issued with regard to any other sin. Buying a house is not regarded as a
necessity that makes riba permissible, because necessity refers to something
the loss of which will cause death or almost cause death. The need for
accommodation may be met by renting, or by staying in a small house, until
Allaah makes things easier.
It would have been better for you to put up with the
wrongdoing of the increase of the price of the apartment, instead of
resorting to dealing in riba. Hence you have to repent to Allaah from this
grave sin, and resolve not to do it again.
See also question no.
39829.
Remember that the more you hasten to pay off this loan, the
better it will be, so that you can get rid of the effects of riba and its
bad consequences, but you do not have to do that. Based on that, you do not
have to sell your car in order to pay off part of the debt.
And Allaah knows best.