Fatwa #6854 September 2000Pakistan

Is it halal or haram to borrow money from the bank on interest in order to purchase a house or a property ?

Answer

To take a loan on interest is strictly prohibited in Shari'ah.

The negative consequences of such a loan could be worse than the present grief and agony. As an alternative, we advise that instead of paying monthly instalments for the loan from the bank, you hire a house and pay a monthly rental.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai

#14618Mufti Saab my question is as follows. My parents recently bought a house. In order for it to be done in the Halal way they borrowed money from their children and other family members with their permission as opposed to the bank
#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 :
#19466Living in a house bought through a loan from the bank. 2. Earning money from business running with interest. 3. Going for Umrah or Hajj every year while involved in interest.
#103451-job in Non muslims country . 2-My father is retire but he could do bank job we eat Haram money till now and live in a house which made in haram money
#10305I borrowed money from a bank, didn't know it is haram but can't pay it off, what can I do?
#38977Will paying a creditor rent for the house purchased using his money, be considered as interest?
#18661Interest from the banks
#16102I want to get a car from bank. As you know I have to pay interest on it. Pls. tell me if it will halal or haram.

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