Studying abroad that is funded by Ribah-based banks

Question 34: His Excellency the Ambassador of the Kingdom of Saudi Arabia in America invited the private sector to help in giving donations to the Saudi students who study at their own expense. These private companies included banks which deal in Ribah (usury). Is it permissible for students to take study loans offered by these banks?

Answer: If it is known that this money comes from Ribah, whether through a bank or otherwise, it is impermissible to accept it or make use of it, because dealing in Ribah is prohibited in the Qur’aan and the Sunnah… read more here.


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