´It was narrated from 'Abdullah bin Ja'far that the Messenger of Allah (ﷺ) said:` “Allah will be the borrower until he pays off his debt, so long as it (the loan) is not for something that Allah dislikes.”
Explanation & Benefits
Maulana Ataullah Sajid
Benefits and Issues:
➊
It is permissible to take a loan with the intention of repayment.
➋
If the intention is good, the help of Allah Ta'ala is attained.
➌
A loan should be taken for a good purpose.
To spend on frivolous, un-Islamic customs at weddings and funerals, or on infidel celebrations such as Basant and birthdays, is sinful even without taking a loan.
To take a loan for such customs would be an even greater sin; one should completely avoid such practices.
➍
It is never permissible to take a loan on interest (riba) under any circumstances.
Source: Commentary on Sunan Ibn Mājah by Mawlānā ‘Atā’ullāh Sājid, Page: 2409