Fatwa #60327 August 2000Pakistan

Buying a house if the price is 160k Cash the owner gives you for 180k and divides the instalment over 1 yr is this ok .

Question

.Is there any condition with which loan could be taken from bank .Could you give the details of mufti taque usmani fatwa in this regards.

Answer

If the final price of the house is specified, for example, 180K payable over one year, then the transaction is correct. It is not permissible to take a loan on interest from the bank.

and Allah Ta'ala Knows Best
Mufti Ebrahim Desai

#111452. friend offer me a motorbike of 12 million in cash, but he give me a choice to pay in credit for either 2,3,4 or 5 years.. Is this scheme OK?
#8207I would like to know if buying house thru Guidance Financial Group of Falls Church, VA, USA is OK. Their sharia board has Mufti Taqi Usmani as an advisor.
#14720am going to ‘borrow money’ from an institution. It’s not a syar’i insitution, but we are trying ot make it syari. I am borrowing the money to buy some materials in order to renovate and extend my house. The institution is providing me with some money in order for me to buy some material... but the actual contract will be as :
#193451. I have invested little money with agents who give 7% commission on every transaction. Would it be correct to... 2) we store potatoes as a normal practise. But when we store it, the price is reasonably low and when we see the market is fair enough high we sell it.?
#17859I have 1000 us dollars in cash. i have a brother who wants to buy them. the current rate is 10 rands to a dollar. he says he will not be able to pay me cash. i offered to sell him the dollars at 15 rands to the dollar and give him 6 months to pay. all is fixed and agreed. is this permissible.
#13812I have approached the bank and explained that I want to buy a house with a loan from them that complies with Islamic Law and Principles. I have asked that they buy the house for me, and agree to re-sell to me with an agreed profit,
#27673Buying through the banks by instalments
#10277Should I have paid zakat on my accumulated cash. Considering the circumstances, I have been saving to buy a house. And to buy a house was not possible until now.

Something wrong with this record?

Question

Answer

Related rulings