Home » Hanafi Fiqh » Askimam.org » I want to know if it is permissible to finance a house or a vehicle from the bank. I heard it is permissible according to some ulema.. please give a detailed explanation..

I want to know if it is permissible to finance a house or a vehicle from the bank. I heard it is permissible according to some ulema.. please give a detailed explanation..

Answered as per Hanafi Fiqh by Askimam.org
Answer

Finance obtained through conventional banks is based on gambling and interest, hence, not permissible. However, there are banks in South Africa that operate on Shari?ah principles. We suggest you contact Al-Barakah Bank and request them to guide you.

and Allah Ta’ala Knows Best

Mufti Ebrahim Desai

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This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

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