Answer by oshirowanen for How do long term halal loans work with inflation in...
It is not permissible for the one who borrows money from anyone to commit himself to repaying the loan based on the value of the currency at the time when the loan is repaid, rather he must repay the...
View ArticleAnswer by ashes999 for How do long term halal loans work with inflation in...
There are two main concepts that you need to understand for this question:Islam understands the time/value of money (depreciates over time)Most economies today are inflationary (the value of your money...
View ArticleHow do long term halal loans work with inflation in Islam?
I have a series of questions about Islamic loans. My first question is this:If person 1 loans 100k to person 2 and creates a contract which states that the agreed payback date is 25 years from now. How...
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