Leasing Property to Bank

Answered by 

Shaykh Muhammad Ashraf

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

This Q&A was indexed in 2012 from the website of Jameah Mahmoodiyah, South Africa. The original website no longer exists.
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