Home | Fatwa | Business | Borrowing the money of one’s child

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
Mufti Ebrahim Desai

Check Also

The Zakaat on items no longer in one’s possession

Nasihah (Advice): Aspire to be one of two people   Sayyiduna Abdullah Bin Masood Radhiyallahu …

Can one accept a loan in lieu of the loan amount and 20% of the business?

Nasihah (Advice): Help your workers in their work   Sayyiduna Sallaam Bin Amr Radhiyallahu Anhu reports …