:salam2:
No brothers. We Muslims are not allowed to read Bible to gain faith from it. But we are allowed to read only if one wants to know what is written in it.
One time Omar (RA) was reading Torah to gain knowlege from it. When Prophet Mohammad

saw him he said to him angrily that whatever Allah has revealed in Quran is much better than what you are reading. It is because of alterations and additions we cannot tell which text is authentic and which text is corrupted.
So the restriction is not there, but if one doesn't know about Islam or Quran then that person may mistook some of the bad and wrong things written in the Bible as correct and reliable.
For Example in the begining of Bible:
Genesis 3
6 When the woman saw that the tree was good for food, and that it was a delight to the eyes, and that the tree was desirable to make one wise, she took from its fruit and ate; and she gave also to her husband with her, and he ate.
7 Then the eyes of both of them were opened, and they knew that they were naked; and they sewed fig leaves together and made themselves loin coverings.
8 They heard the sound of the LORD God walking in the garden in the cool of the day, and the man and his wife hid themselves from the presence of the LORD God among the trees of the garden.
9 Then the LORD God called to the man, and said to him, “Where are you?”
10 He said, “I heard the sound of You in the garden, and I was afraid because I was naked; so I hid myself.”
11 And He said, “Who told you that you were naked? Have you eaten from the tree of which I commanded you not to eat?”
Well if a Hindu person will read this story it will be an upgrade for him from what he can read in Geeta or Ramayein etc. But if a person who has no knowledge of Islam or of any religion then he will consider it accurate maybe even inspiring information. But after reading Quran you can find out how many flaws are in just these few verses.
e.g. God was walking in the garden as a big man would walk... :astag: making big footstep sound like dinasour, that is why Adam heard it. Then God didn't know where Adam and Eve were. Why? because he has eyes like us, right? and since Adam and Eve were hiding behind the bushes how could he see them? :astag: Yet these Christian and Jews believe that this same god knows what is in the heart of billions of people all at the same time. And God didn't know they ate the fruit. But he was smart that after he learned that they are naked this smart god figured it out that they ate the fruit. :astag:
To me this is so blasphemic because I have read Quran.
This is the reason to protect people from misguidance it is recommended that they should avoid reading other religious material
before they have studied Quran.
Scholars can definetly read any religious text of any religion. I have read Bibble and you can see I have quoted the Bible verses above.
