Answer
In the Name of Allah, Most Gracious, Most Merciful.
All thanks and praise are due to Allah and peace and blessings be upon His Messenger.
In this fatwa:
It is known that Udhiyah is a sunnah for those who are financially able to perform it. So, though it is not forbidden, you are not required to have a loan for Udhiyah.
Responding to your question, the eminent Muslim scholar, Dr. `Abdel-Fattah Idrees, Professor of Comparative Jurisprudence at Al-Azhar University, stated:
Udhiyah is a sunnah only for the one who is able to do it. As for the unable one, he is not required to do it. So, there is no need for him to have a loan for Udhiyah.
It was narrated that the Prophet (peace and blessings be upon him) said, “… if I forbid you to do something, then keep away from it. And if I order you to do something, then do of it as much as you can.” (Al-Bukhari and Muslim)
Also, Allah Almighty says in t he Quran, {Allah does not charge a soul except [with that within] its capacity.} (Al-Baqarah 2:286)
In conclusion, you need not overburden yourself with a loan for udhiyah which is required only from those who have the financial ability to afford it.
Allah Almighty knows best.
Editor’s note: This fatwa is from Ask the Scholar’s archive and was originally published at an earlier date.