Is the buy to let mortgage by Al Rayan Bank Shariah complaint?

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

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

We observe that the buy to let mortgage by Al Rayan Bank is based on the diminishing partnership model and Ijaarah (leasing).

We are unable to issue a ruling without assessing and analysing the contracts of the product.

You may refer to the following Muftis in the UK and seek their guidance on the issue.

• Mufti Faraaz Adam (Hafidhahullaah).
• Mufti Zameelur Rahman (Hafidhahullaah).
• Mufti Hanif Patel (Hafidhahullaah).
• Mufti Bilal Al Mahmudi (Hafidhahullaah).

And Allah Ta’āla Knows Best 

Muhammad IV Patel

Student Darul Iftaa
Lusaka, Zambia 

Checked and Approved by,
Mufti Ebrahim Desai.