Debt and Loan: Prohibition of Charging Extra Payment for Delayed Loan Repayment
Practical Laws of Islam as per the teachings of Imam Khamenei
Debt and Loan: Prohibition of Charging Extra Payment for Delayed Loan Repayment
English:
Question #1757:
Should the borrower postpone the payment of a loan, is it permissible for the lender to ask him to pay an extra amount over and above the amount of the loan?
Answer #1757:
He can demand the loan plus compensation for decrease in purchasing power of the money.
-Imam Khamenei, Practical Laws of Islam, Importance and Conditions of Debt and Loan