is taking a business loan from a bank, like Devon bank, USA, which claims to be shariah compliant, ok, halal?
According to my little knowledge, Devon bank only offers Shariah compliant home financing. They do not provide any other type of shariah compliant loans.
If however some bank does provide verifiable Shariah compliant business loans then it would be permissible to make a transaction.
And Allah knows best.
Mufti Ikram ul Haq
Fatwa Center of America