An Islamic bank wishes to provide financing to one of its customers, in order to purchase a ready property from a developer
Fatawa Question
An Islamic bank wishes to provide financing to one of its customers, in order to purchase a ready property from a developer. No sale and purchase agreement has been signed between the customer and the developer and only the booking has been made by the customer by way of a booking form evidencing payment of 20 % of the purchase price to the developer. The developer has decided to transfer the title to and possession of the property only upon payment of balance amount of the purchase price is ready. Shariah guidance is sought in this regard.
Fatwa
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Publisher
Publication Date
2014-04-30
Country of Publication
Malaysia
Main Subjects
Economics & Business Administration
Islamic Studies
Data Type
Fatawa
Language
English
Record ID
BIM-783551
American Psychological Association (APA)
Hassan, Husayn Hamid. 2014-04-30. An Islamic bank wishes to provide financing to one of its customers, in order to purchase a ready property from a developer. . Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783551
Modern Language Association (MLA)
Hassan, Husayn Hamid. An Islamic bank wishes to provide financing to one of its customers, in order to purchase a ready property from a developer. Kuala Lumpur Malaysia : Islamic Finance News. 2014-04-30.
https://search.emarefa.net/detail/BIM-783551
American Medical Association (AMA)
Hassan, Husayn Hamid. 2014-04-30. An Islamic bank wishes to provide financing to one of its customers, in order to purchase a ready property from a developer. Kuala Lumpur Malaysia : Islamic Finance News.
https://search.emarefa.net/detail/BIM-783551
