Authored by: Fatwas of the Saudi Fatwa Committee
Topic: Guidance for Traders and Debtors
Topic: Guidance for Traders and Debtors
Practical Guidance for Managing Debt and Finances
- Avoiding Debt:
- A person should strive to adopt moderation in their lifestyle and avoid unnecessary borrowing.
- It is a blessing to remain debt-free, and one should thank Allah if they are spared from financial obligations.
- Intention to Repay:
- If borrowing becomes necessary, one must have a sincere intention to repay the debt.
- The Prophet Muhammad ﷺ said:
“Whoever takes people’s wealth with the intention of repaying it, Allah will facilitate its repayment for them. And whoever takes it intending to squander it, Allah will bring about their ruin.”
- Moderation in Lifestyle:
- To minimize the need for excessive borrowing, practice moderation in all aspects of life, including food, clothing, and other expenses.
- Avoid accumulating debts unnecessarily, as excessive financial burdens can lead to an inability to repay.
- Efforts to Repay:
- If borrowing becomes unavoidable, the borrower should immediately seek ways to fulfill their repayment obligations.
- Once financial ease is achieved, they should prioritize repaying their debts without delay or negligence.
- Sincerity and Diligence:
- It is crucial for the borrower to have a sincere intention and exert effort to repay the debt. This reflects both personal integrity and adherence to Islamic principles.