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If we want to lend money to someone, what is the safest and most appropriate way to do so? Our shahukaar license is valid, so can we ask for a cheque as security?
If you want to lend money, ensure that it is done legally by creating a loan agreement that includes clear terms, interest rates, and a repayment schedule. As a shahukaar, you may ask for security such as a post-dated cheque. However, ensure that the transaction is documented and complies with the relevant laws governing money lending. For further legal assistance contact us on our helpline number.