Fatwa #356925 May 2016Singapore
Guidance on Home loan
Question
we are living in Singapore and the country does not offer islamic home loans, can we please have guidance on home loan from traditional bank in a country where islamic finance is not available? Jazakallah khair
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
We applaud your sensitivity towards halal.
The following are Islamic Banks in Singapore,
- CIMB Islamic Bank,1
- Islamic Bank of Asia,2
- MayBank2u.3
They provide financing products for home loans. To assess the Shariah compliancy of the financing product, you may forward the contract to us. We will consider the Shariah Compliancy of the contract accordingly.
And Allah Ta’āla Knows Best
Huzaifah Deedat
Student Darul Iftaa
Lusaka, Zambia
Checked and Approved by,
Mufti Ebrahim Desai.
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1 http://www.islamicbankasia.com/iba/default.page
2 .https://www.cimbislamic.com/en/who-we-are/overview/our-presence/singapore.html
3. http://info.maybank2u.com.sg/islamic/