Home | Fatwa | Business | Borrowing the money of one’s child
13479426-money-matters-image-new

Borrowing the money of one’s child

Nasihah (Advice): Importance of repaying ones debts

Sayyiduna Abu Hurairah Radhiyallahu Anhu reported that the Messenger of Allah Sallallahu Alayhi wa Sallam said, “The soul of the believer remains hanging with his debt till it is paid.” (Tirmizi)
________________________________________________
Question and Answer:
Q. At the time of my son’s birth, I had gifted him one million rand by keeping it in an account on his name. A few years later, my business was in need of finance. So, I used the one million rand that I gave to my son which was in his account and I replaced it over the years. Was it correct for me at the time to have taken a loan from my small son and then replacing it back into his account? Also, can I give others loans from my sons money?
A. It is permissible for a father to utilise the wealth of his immature (non-Baaligh) son as a loan. However, he cannot give loans to others from his sons/child’s wealth. (Hindiyyah 6/147)
And Allah Ta’ala Knows Best
Mufti Ismaeel Bassa
Confirmation: 
Mufti Ebrahim Desai

Check Also

univ

Should Muslim females attend university?

 Answer: (Written by a university graduate who personally experienced campus life) With the imminent onset …

intimacy_prayer

Various questions on intimacy

 http://askimam.org/public/question_detail/37374 Question Assalamu-Alaikum   1. I want to know if it is permissible to insert …