Repaying debt at the present value

Repaying debt at the present value

Darulifta Ahlesunnat

(Dawateislami)

Question

  What do the blessed Ulama and Muftis state regarding the following matter: If a person borrowed a million rupees from someone fifteen or twenty years ago and now wishes to repay it, is it compulsory for him according to Shari’ah to repay only a million [rupees] or does he need to repay more amount of money according to the present value because the value of a million [rupees] was too much twenty years ago but it does not have the same value nowadays. Please give us guidance on this matter.

بِسْمِ اللہِ الرَّحْمٰنِ الرَّحِیْمِ

اَلْجَوَابُ بِعَوْنِ الْمَلِکِ الْوَھَّابِ اَللّٰھُمَّ ھِدَایَۃَ الْحَقِّ وَالصَّوَابِ

  The Shar’i ruling states that it is compulsory to repay the same amount of money which was borrowed, not more than it. It will make no difference whether the value has increased or decreased. Therefore, if a million rupees was borrowed twenty years ago, it is compulsory to repay only a million rupees now. It is not permissible for the lender to demand more money even though the value of a million [rupees] was too much twenty years ago.

وَاللہُ اَعْلَمُ  عَزَّوَجَلَّ  وَرَسُوْلُہ اَعْلَم صَلَّی اللّٰہُ تَعَالٰی عَلَیْہِ وَاٰلِہٖ وَسَلَّم

Answered by:Maulana Shafiq Attari

Verified by:Mufti Muhammad Qasim Attari