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Mudarabah and musharakah

Answered according to Hanafi Fiqh by Qibla.com

Answered by Shaykh Faraz Rabbani

I live in USA, there are Islamis groups who say they can buy you a house in Islamic way. They saying the group and me can buy the house as parteners ( they put 80% and I put 20% of the value of the house), then since I’m using it they rent me based on their percentage and I can buy their principal little by little. they calcalute the rent plus the principal that I buy from them monthly based for 25 to 30 years. They say is Mudarabah and Musharabah and is halal. Is it? when the two are conditioned? or not? Please visit their website to get more information: www.guidancefinancial.com and www.lariba.com www.umfinancial.com

Answer:
In the Name of Allah, Most Gracious, Most Merciful

Walaikum assalam wa rahmatullah,

 I pray that this finds you well, and in the best of health and spirits. May Allah grant you all good and success in this life and the next.

In principle, as explained in Mufti Taqi Usmani’s work Islamic Finance: An Introduction, these are permissible modes of investment. As for particular offerings: Given the considerations in such cases, please consult a reliable local scholar directly about the specifics of the situation.

And Allah alone gives success.

Faraz Rabbani

This answer was indexed from Qibla.com, which used to have a repository of Islamic Q&A answered by various scholars. The website is no longer in existence. It has now been transformed into a learning portal with paid Islamic course offering under the brand of Kiflayn.

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