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Islamic banks

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I wish to buy a house but don’t have enough means except to borrow from a bank. What shall I do? Are there any banks in South Africa which offer Islamic house financing?

Bismillaah

A: We cannot vouch for any bank whether they are halaal or not. Many a times, their constitutions are corrupt, and if they are right then many of the staff do not understand the concepts or do not apply the concept correctly. Hence we are not in the position of guiding you to any bank.

And Allah Ta’ala (الله تعالى) knows best.

 

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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