Islamic Loan from University Islamic Financial

Answered according to Hanafi Fiqh by ShariahBoard.org

Assalamualaikum Mufti Sahib

I am planning on buying a house and want to take loan from UIF (University Islamic Financial). They state that they do home financing according to the teachings of Islamic Shariah. They have also attached fatawa for home financing from Amanie Advisors Sharia Supervisory Board. Their web site is www.myuif.com and their phone number is 1800 916 8432. Could you please verify their process of home financing according to islamic shariah and let me know if an Islamic loan can be taken from them?

JazakAllahu Khaira

الجواب وباللہ التوفیق 

We currently do not have any research on this institution and currently it will be difficult for us to perform a detailed review, therefore, we are unable to provide a definitive answer to your question. However, if you can describe the exact situation you need a fatwa for, we will InshahAllah provide an answer.

Wassalam

 

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