Question:
Assalamualaikum wa rahmatullahi wa barakatuhu
Respected Mufti/Scholar in Islam
Can one sign up a commercial bank dealing in riba (usury) to take tenancy of ones commercial property? Is such a transaction lawful in Islam and is such rental lawful to consume?
Also, if one happens to purchase a commercial property which already has a commercial bank as a tenant as per contract, what must be done?
Your prompt response will be appreciated.
Wassalaam
Answer:
In a non-Muslim country if the commercial bank dealing in interest belongs to non-Muslims then ones property can be given to the bank for renting. The money gained from this bank as rent will be Halaal. (Ad-Durrul Mukhtaar, Vol. 5, Imdaadul Ahkaam, Vol. 4, Page 390)
And Allah Ta’ala knows best
Mufti Muhammad Ashraf
Darul Iftaa
Jameah Mahmoodiyah
Springs
13 February 2006
14 Muharram 1427