Conventional and Islamic finance of home purchase : Ijarah loans

السؤال

I am hoping you can give me advice on a matter. I live in Canada and have been renting for 10 years now. I now have 4 children Alhamdulillah and badly want to purchase a home and have stability. Unfortunately, I just cannot in my heart take out a mortgage even given the Fatwas that allow it in the west. Somehow my heart just won't allow me to do it still. So I have been saving but I am getting very desperate. So, there is a new company that came to Canada called Ijarah Loans form the US. They say they have a product, where I go get a regular mortgage from the bank and then before the first interest bearing payment is made they convert it to a Shari’ah compliant transaction. I don't really understand how it works, it sounds to that basically I end up paying Ijarah Loans then they pay the bank the regular mortgage payment. I also feel this is not ideal, because I am the one to sign the agreement in the first place, and then they are paying the bank the regular interest payments. Please advise as we respect your opinion very much Sheikh. Jazakallahu Khairan Muhammed

جواب الفتوى

أنقر هنالمشاهدة هذا المحتوى

تاريخ النشر

2009-05-05

التخصصات الرئيسية

العلوم المالية و المحاسبية
الدراسات الإسلامية

الموضوعات

• الفقه الإسلامي
• التأجير
• الإسكان
• التمويل
• القروض
• الشراء
• الممتلكات العقارية
• شركات التمويل التجاري
• الربا
• الرهن العقاري

عدد الصفحات

1

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-734887

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• MLA
• AMA