IslamQA

Purchasing a new car from the bank

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I want to purchase the new car from the bank. The price of the car is (lets say 500,000 Rs) in one shop and 550,000 Rs in other shop and from the bank it is 600,000. Each of them has different value based on the profit they take from the buyer. (Basis that every one has the right to get the maximum benefit based on the investment). Please guide me. Can I take the car from the bank?

Bismillaah

A: If it is one fixed price and it is not subject to any type of fluctuation then purchasing from the bank will be permissible. For further details refer to http://muftionline.co.za/node/7507

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

 

Answered by:

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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