Bounce back loans

[Spm]

Asalaam.

Could you advise if the government guaranteed bounce back loan is ok to accept with the intention to return within the 1st year - leading to no interest paid?

I have seen the thread to say it is not acceptable, i have received this with the view of zero interest.

If this is not acceptable, what would you advise be?

Would simply returning this immediately satisfy from islamic perspective?

[Mufti_Faraz_Adam]

Wa alaykum salaam,

Kindly see:

Business Question: Is the Government business bounce bank loan halal or haram?

Wa alaykum salaam, My thoughts are that the loan is not Shariah compliant and that this should not be an option unless an absolute necessity. Kindly see this post for more information on when a business can potentially consider such options: https://www.islamicfinanceguru.com/general/what-the-chancellors-350bn-package-means-for-muslim-businesses-a-fatwa/ The reason why it’s an issue is that you are entering an interest-based loan from the outset, and the government is assuming the responsibili…