Fatwa #97401 October 2003South Africa

i would like to know due to tax purposes is it permissible to finance a vehicle

Answer

It is permissible to finance a vehicle provided the finance is structured within the Shar?ee guidelines.

You should approach your bank ? even if it is a normal conventional bank ? and request them to structure a deal in a manner that conforms to Shar?ee regulations. If you re unaware of these regulations, kindly contact us again.

and Allah Ta'ala Knows Best

Mufti Muhammad Kadwa
FATWA DEPT.

CHECKED AND APPROVED: Mufti Ebrahim Desai

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