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13 Virtues of Lending Money in Islam – Rules of Lending

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In Islam, we must help fellow Muslim who is in need. Including when they want to lend money from us. However, lending money is a risky act in Islam, because when we take advantage from it then it will become riba’. Even so, we must not reject when others ask us to lend some money, and we are capable of giving them. In fact, lending money is a virtuous act in Islam.


Here are some of the virtues of lending money in Islam:

1. One of the Recommended Act

Lending money to others is considerably one of the most recommended act in Islam. It’s an act based on empathy to other, so that it’s highly encouraged for Muslims to do so. It is so related with the Holy Quran and sunnah from the Prophet (peace be upon him). For those who are wealthy enough, they better give loans to anyone need for it.

Also read: Law of Borrowing Money at Banks in Islam

2. Beautiful Form of Worship

We can worship Allah SWT in many ways and form, including when we lend money others. Yes, lending money is one beautiful form of worship, since there is good intention in it, and it’s done to please Allah SWT. Lending is one kind of investment of afterlife, so that the Prophet (peace be upon him) said,

“The reward for lending is repayment and words of paradise.” – Ibn Majah

3. Investing with Allah

The best business a Muslim could build is investing with Allah. There is no bankruptcy, no credit interest, and no risk because Allah SWT is the provider. Allah is the owner of rizq, He is the one who make human stand, work, and move around. The result of the investment may not come right away, but the Prophet (peace be upon him) said that a big returns will be received.

Also read: Ways to Get Good Deeds in Islam

4. Encouraged by Allah SWT

One of the virtues of lending money in Islam is that the act is encouraged by Allah SWT Himself. It was mentioned inside the Holy Quran, that whoever lend money will be given better rewards both in the world and in the Hereafter:

“Who is it that would loan Allah a goodly loan so He may multiply it for him many times over? And it is Allah who withholds and grants abundance, and to Him you will be returned.” [Al-Baqara (2:245]

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5. Gaining Forgiveness from Allah SWT

Whoever lend money to fellow Muslim who is in difficulty and show kindness to them, then Allah SWT will forgive his sins. Asking for forgiveness from Allah SWT is one of the most important thing in Islam.

6. Loan is Charity

It was said in the Holy Quran that loan is a form of charity.

“Indeed, the men who practice charity and the women who practice charity and [they who] have loaned Allah a goodly loan – it will be multiplied for them, and they will have a noble reward.” [Al-Hadid (57:18)]

7. Helping Fellow Muslim Whose in Difficulty

The Prophet (peace be upon him) said:

“Whoever gives respite to one in difficulty, he will have (the reward of) an act of charity for each day. Whoever gives him respite after payment becomes due, will have (the reward of) an act of charity equal to (the amount of the loan) for each day.” – Ibn Majah

When it comes to payment date but the borrower is short of money and asks for some time, if the lenders give him times then for ever each day the payment is delayed he will get the reward of giving sadaqa.

Also read: Ways to Give Charity in Islam

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8. The Sins Will be Forgiven

The Prophet (peace be upon him) said:

“Once a man died and was asked, ‘What did you use to say (or do) (in your life time)?’ He replied, ‘I was a businessman and used to give time to the rich to repay his debt and (used to) deduct part of the debt of the poor.’ So he was forgiven (his sins.)” Abu Mas’ud said, “I heard the same (Hadith) from the Prophet.” – Bukhari

9. Showing the Kindness of Islam

Act of lending money shows how Islam encourages kindness and closeness between Muslims.

“And if the debtor is in hard time, if he does not have money then grant him time till it is easy for him to repay.” – [Al Baqara (2:280)]

The Rules of Lending Money

Indeed, lending money in order to help fellow Muslims who are in difficulty is always encouraged. But there are certain rules of lending money in Islam:

  1. The lenders should be qualified sine lending money is a form of donation. The lender must be in a state of healthy mind, not a minor, an insane people, or a fool. Not only the lender, the borrower should also be qualified. When both parties reach an agreement regarding the lending of money, then it will be valid.
  2. Regarding of the money being lent is something permissible in Islam. Not a money from stealing, lending money that borrowed from other people, also will be used for something halaal. Because Allah SWT said, “… but do not help one another in sin and transgression…” [Al Maida (5:2)]
  3. Any money lending transaction in Islam should be written. Both parties must prepared written documents which include the payment of the money lent. The purpose of the document is to avoid dispute and conflicts that may happen in the future.
  4. When the time of payment arrives, the borrower should pay it on time. Delaying the debt payment is a grave sin. As the Prophet (peace be upon him) said, as narrated by Abu Hurayrah (RA):

“Delay in repaying debts by a wealthy person is oppression.” – Bukhari

So those are all the virtues of lending money in Islam. Now when lending money is an encouraged act in Islam, we should be helping our fellow Muslim bothers who are in need when we have more money to donate. May Allah always bless us in every step that we take.

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