Regard to fatwa ID 6948. is it allowed to buy a house in the same manner ? Prophet SAW cursed the accepter of interest and its giver,and the two witnesses and the one who records it,and he said they are all equal. doesen’t this contradict what you have said ? INTEREST isit haram by its nature or depends on how you use it ? please throw some light on this. jazakallah.
Answer:
(Fatwa: 1938/1804=D/1429)
You should attach the pervious fatwa.
It will be called interest if the Shariah definition of interest is applicable to it, otherwise not, whether it is called interest or not by the people. The ruling of a matter is governed by its definition.
Allah (Subhana Wa Ta’ala) knows Best
Darul Ifta,
Darul Uloom Deoband