Mr Z is the owner of 80 % of a real estate property, along with Mr Y who owns 20 % of the same property. Mr Z is willing to acquire the full share of Mr Y and become the 100 % owner of the property

السؤال

Mr Z is the owner of 80 % of a real estate property, along with Mr Y who owns 20 % of the same property. Mr Z is willing to acquire the full share of Mr Y and become the 100% owner of the property. Mr. Y is willing to sell his part of the ownership to Mr Z at the current market price. Mr Z requires finance from an Islamic bank to be able to achieve his objective. Can the Islamic bank provide Shariah compliant financing to Mr Z for this purpose ? If so, what could be the mode of such financing ? It is important to note that the property is already mortgaged to the bank against a financing facility earlier extended by the bank to Mr Z who paid a 25 % down payment at the time of acquiring his 80% share of the property three years ago when he acquired the bank’s finance for the balance amount . He has so far been regular in his payment of the Murabahah installments in the five-year Murabahah tenor and shall settle the additional finance in the remaining two years along with the current Murabahah.

جواب الفتوى

أنقر هنالمشاهدة هذا المحتوى

الناشر

Islamic Finance News

تاريخ النشر

2013-04-17

دولة النشر

ماليزيا

التخصصات الرئيسية

العلوم الاقتصادية والمالية وإدارة الأعمال
الدراسات الإسلامية

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-784624

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