Rayyan Bank’s Halal mortgage product
Has there been a reply to fatwa 32264 in regards to halal mortgages in the UK?
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh
We cannot comment on Rayyan Bank’s Halal mortgage product as we have not received a copy of the terms and conditions of the contract. However, we have received a copy of the brochure. There are certain aspects of the product which are doubtful from a Shariah perspective. We advise the public to abstain from the product until we reach a definitive conclusion on the matter.
And Allah Ta’āla Knows Best
Checked and Approved,
Mufti Ebrahim Desai.