Taking a loan from the bank to purchase a house

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I am from India. We are three bothers and we have only one home. With the grace of Allah (Ta’ala) coming year I will get married. So, I was thinking of buying a home. As I don’t have enough money. I need to take a loan. But here in India we don’t have Islamic banking. And I don’t have other means to get that required amount. What is best for me? As there is Riba involved if I want to buy a flat from the banks which follow non-islamic banking.

Bismillaah

A: Avoid all types of riba transactions.

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

 

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

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