Fatwa #3411425 October 2015South Africa

Financing a potential transaction via a financial institution

Question

Is it permisable as a motor car retailer to use a finance instituition for vehicle finance? A finance instituition means a third party company that has links with different banks.

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuhu

Your question is unclear. Kindly submit the terms and conditions of the finance institution you refer to in order for us to issue a specific ruling. Moreover kindly provide further clarity as to the process involved in financing a potential transaction via a financial institution.

And Allah Ta’āla Knows Best

Mufti Ismail Desai,

Darul Iftaa

Checked and Approved,

Mufti Ebrahim Desai.

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