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I am running a business and I would like to take loan from a bank to buy larger property for business expansion.

The property reamins with bank as collateral until debt is paid off. Bank asks for 10% deposit. Bank asks for 10% interest.

Is this permissible in Islam? Are there any other options on how I could expand business operations?

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  • Do you have an option of seeking loan from a Shariah compliant Islamic bank in your country?
    – Ahmed
    Aug 14, 2019 at 18:14
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    "Are there any other options on how I could expand business operations?" Your available options would seriously depend on your location, your current financial situation, and any number of other factors that we simply have no way of knowing. It is probably way too broad and opinion-based to answer here.
    – goldPseudo ♦
    Aug 14, 2019 at 18:34
  • No Islamic Bank.
    – Faiz Mohamed Haneef
    Aug 15, 2019 at 14:11
  • @goldPseudo. Sorry for vague. I meant how do I raise money if there is no shariah bank? For example if from a VC, then still VC will put interest terms and so forth. How do people raise money is the question?
    – Faiz Mohamed Haneef
    Aug 15, 2019 at 14:13

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