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Could you kindly tell me whether Islamic banks are halal if I decide to buy a house? As far as I know even Islamic banks are not 100% halal. How do I know which Islamic banks are genuinely Halal, what are the signs?What do I need to to consider? Most of them claim to be Islamic and according to sharia law but it is sad to know that it is the same as taking riba at the end.

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: Could you kindly tell me whether Islamic banks are halal if I decide to buy a house? As far as I know even Islamic banks are not 100% halal. How do I know which Islamic banks are genuinely Halal, what are the signs?What do I need to to consider? Most of them claim to be Islamic and according to sharia law but it is sad to know that it is the same as taking riba at the end.

Bismillaah

A: We are not absolutely clear with the operations of Islamic banks. However, if any particular case is brought before us, we will be able to issue a ruling of permissibility or impermissibility. It is difficult for us to generalise their operation.

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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