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Interest Free Loan

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  • Bantex_2
    Bantex_2 Posts: 3,317 Forumite
    Are you allowed to say Allah?
  • Zeus28
    Zeus28 Posts: 71 Forumite
    Had a look of Islamic Bank of Britain. However when I called them they said they were not offering any personal loans unfortunately.
  • DCFC79
    DCFC79 Posts: 40,641 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Zeus28 wrote: »
    Had a look of Islamic Bank of Britain. However when I called them they said they were not offering any personal loans unfortunately.

    I see 2 options:

    tell the 1 you owe money to they will have to wait for it
    play the lottery, bet on the horses or other sports

    OR just get a normal loan.
  • Zeus28
    Zeus28 Posts: 71 Forumite
    I am considering applying for deal or no deal and getting the money that way.
  • dealer_wins
    dealer_wins Posts: 7,334 Forumite
    Zeus28 wrote: »
    I am considering applying for deal or no deal and getting the money that way.

    That is more Haram than taking out a loan, that is gambling!!
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    dealer_wins wrote: »
    That is more Haram than taking out a loan, that is gambling!!

    I'm not so sure, there's no personal stake so is it really gambling?

    Also my understanding of Islamic finances, which is by no means great, is that trading is considered an appropriate business. For that game show you are offered a sum of money to buy the box you've been given, so it seems to me to be effectively trading.

    However this isn't really a serious way if obtaining the funding so it's all a little academic really.
  • dealer_wins
    dealer_wins Posts: 7,334 Forumite
    bigadaj wrote: »
    I'm not so sure, there's no personal stake so is it really gambling?

    Also my understanding of Islamic finances, which is by no means great, is that trading is considered an appropriate business. For that game show you are offered a sum of money to buy the box you've been given, so it seems to me to be effectively trading.

    However this isn't really a serious way if obtaining the funding so it's all a little academic really.

    Unless you accept the first bankers offer, its gambling!!
  • Zeus28
    Zeus28 Posts: 71 Forumite
    Is deal or no deal considered gambling ?
  • Fruit_and_Nut_Case
    Fruit_and_Nut_Case Posts: 4,617 Forumite
    Mortgage-free Glee!
    edited 20 April 2014 at 7:33PM
    Zeus28 wrote: »
    Is deal or no deal considered gambling ?
    Ask your Imam.

    Or read this. Also asked by a number 28.
    Are you for real? - Glass Half Empty??
    :coffee:
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper
    dealer_wins wrote: »
    Unless you accept the first bankers offer, its gambling!!

    No I disagree, in trading terms it's simply haggling over the value of that box, which may go up or down.
This discussion has been closed.
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