Search Islamic Finance Answers

1,000+ scholar-approved answers and growing...

Taking Collateral Before Debt Is Incurred
Is it lawful for the bank to take collateral from its client before it purchases goods from the importer and sells them to him?
The creditor has no right to take collateral from his client before the debt is established. It is only lawful to take collateral as confirmation of the execution of a contract of sale.

ASK AN ISLAMIC FINANCE QUESTION

Each question is reviewed by an Islamic finance expert and approved by a scholar.

Ask Now »

SEARCH ISLAMIC FINANCE Q&As

Browse one of the world's largest database of Islamic finance Q&As available online.

View details »

What’s New at Ethica

Press releases, live events, book recommendations, discount offers, and more

View details »

sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter
sliderFooter