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Interest Based Loan

Answered as per Hanafi Fiqh by ShariahBoard.org

Assalaamu Alaikum,

Is it Islamically permissible to buy a house on conventional mortgage while living in a non-Islamic country ( where Sharia laws are not implemented)? Please respond according to Hanafi School Of Thought.

Thanks

الجواب وبالله التوفيق 

It is not permissible to take an interest-based loan to buy a house. It should be clear that there is no concept of taking interest in an Islamic way. The interest-based loan itself is non-Islamic.

واللہ اعلم  بالصواب

Answered on: 05 November 2019 | 8 Rabiul-Awal 1441
Answer By: Mufti Mohammed Hameed ur Rahman Hamid
Checked By: Mufti Mohammed Navalur Rahman

Original Source Link

This answer was collected from Shariahboard.org. It was established under the supervision of the eminent faqih of our era, Hazrat Shah Mufti Mohammed Navalur Rahman damat barakatuhum.

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