Taking mortgages to buy a residence in western countries : no interest for a year and home mortgage

السؤال

Salam Alaykum My Name is Mohamed, and I live in Sydney Australia, brother I have a few questions that I really hope you can answer forme Inshallah. I'm always on the Islam online website and alhamdulillah it has helped me clarify a few things. My first question is, there are retail companies who advertise that you can purchase anything from their store on a 24 month interest free plan, you pay no deposit, no payments and no interest till that 24 months are over, you can pay it off though within the 24 months, and if you do it would mean you didn't pay any interest on the product, a Sheik here says that it is Haram to use this system because we are signing into an interest agreement, I wondered what your thoughts where on that ?. My second question is, I brought an apartment 4 years ago using the conventional banks, that means im paying interest, may Allah(SWT) forgive me, the reason I took out the loan was before I had purchased the apartment I had asked the Mufti of our area if it was ok, since I was going to get married, and the home was not for an investment, he told me it was fine to purchase a home by interest based loans from the bank as long as I buy it to live in it, now there are some Sheiks who say no, it is Haram and I'm with them, that is why I have my home for sale, so that I get rid of paying interest Inshallah, we have an Islamic bank in Sydney by the name of MCCA, who people say use the rent method, their website is www.mcca.com.au , just wondering if you could check them out for me and give me your opinion on them, as I wouldn't mind keeping the apartment I live due to the fact that it is right across the road from the main mosque in Sydney, and it is in the heart of the Islamic community in Sydney, the street I live in is 98 % Muslim owned Alhamdulillah. Dr Monzer please forgive me for the long questions, Inshallah may Allah(SWT) reward you for your efforts and help. I have another question which I will send to you in a later date Inshullah. Jazakum Allah

جواب الفتوى

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تاريخ النشر

2006-06-30

التخصصات الرئيسية

العلوم الاقتصادية والمالية وإدارة الأعمال
الدراسات الإسلامية

عدد الصفحات

2

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-788908

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