Question
Is it permissible to charge administration fees for a loan which is not being paid on due date?
Answer
Administration fees on a loan or for failing to pay the loan on time are riba. Such fees are not permissible.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 23 No 04
- PDF page
- 12
Appears under Questions and Answers (approximate).