Fatwa: # 44373
Category:
Country:
Date: 23rd March 2020

Title

Accepting a grant from a bank owner - Is it permissible?

Question

I have a question. I was given an opportunity to apply for grant from a Nigerian philanthropist who is a multi rich businessman. Every year he gives away five thousand dollars each to young Africans who show the desire and passion for enterpreneurship. U am trying to venture in business which I've already started by the will of Allah SWT though very small. But I have passion for farming but my capital us too small for such a project. I wanted to apply for this opportunity before now but a bit hesitant. Reason being, I read the philanthropist's biography and the business he owns. ( His name is Tony elumelu and gives the cash through his foundation Tony elumelu foundation.) Among his businesses is a bank. He owns the United Bank for Africa. At that I became hesitant since most or almost all banks in Africa are 100% interest based. (Ribba). This got me hesitant since I k ow that ribba is Haram in Islam. My question here is, based in the fact that he owns a bank, should I proceed in the application or should I forego it? Also the cash is not a loan but a grant which is given free of charge without being monitored thereafter. The deadline for the submission of the application is 1st March. So I only have today and tomorrow if I am to submit.

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

The person issuing the grant is not a Muslim. It is permissible for you to accept the grant.[i]

 

And Allah Ta’āla Knows Best

Muhammad Fayyaadh

Student - Darul Iftaa

South Africa

Checked and Approved by,

Mufti Ebrahim Desai

 


[i] فتاوى دار العلوم زكريا 5 /599

امداد لاحكام                                                                                                                             4/

 

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