I am living in New Zealand for the last 7 years with my four children and my wife. I work for GOVT of NZ and my wife is a house wife.I am paying tax to the govt of NZ as it is anon islamic country and that same tax applies to all the citizens of NZ. I am renting for the last 7 years and paying huge rents.Recently because of the fall on economic marketrs world wide my rant have gone up drastically and i am paying $350 per week. I want to buy a home but could not because here the bank provide loans on interest and i know that Riba is against Shariya. I heard that there is a fatwa that says that i can buy a home on interst to live in but not for business purpose it this is right or wrong My question to you is that can i buy home on interest.pLEASE DO SUGGESTE WHAT SHOULD I DO I AM PAYING HUGE RENTS AND PAYING OFF SOME ONES MORTGUAGES.WITH THE SAME AMOUNT OF RENT WHICH I AM PAYING TO MY LAND LORD I CAN PAY OF MY MORTGUAGE. pLEASE DO REPLY.
Answer:
(Fatwa: 490/465=L/1429)
In the abovementioned case, you can purchase house through bank in a way that the bank purchases the house and includes the interest amount in net price then sells it to you and you pay the total price on instalments.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband