Transactions of Islamic banks : auto financing through Murabahah

السؤال

I want to buy a car and I don’t have the money to finance it. I want to get a loan through Dubai Islamic Bank. Can you advice me whether the method they are following is of Shari’ah compliant. i.e. I first go to a dealer and select the car of my choice and then the I tell the bank the car I want. The bank will buy the car and sell it to me at 3.99 % profit rate per annum. If I want to pay it over five year period then they’ll multiply the profit rate for 5 years and arrive at the total price which I have to pay in 60 monthly installments. Is this is a Shari’ah compliant method ? Jazakallhhairan.

جواب الفتوى

أنقر هنالمشاهدة هذا المحتوى

تاريخ النشر

2006-08-24

التخصصات الرئيسية

العلوم الاقتصادية والمالية وإدارة الأعمال
الدراسات الإسلامية

عدد الصفحات

1

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-788446

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