Replacing interest financing by Islamic financing

Fatawa Question

My parents are divorced since I was 4 years old and I have been living with my mother in my grand-fathers house with my aunts and cousins. Today, after about 25 years, my mother can no longer bear this life especially that she has continuous problems with my aunts and that the house is small. My mother started taking tranquilizers and is crying all the time. Then my father decided to buy for us a house. And after we agreed with the seller and I can not describe to you the happiness of my mother, my father mentioned something about bank loan but I did not take it seriously because my father is rich and also because at that time i was not praying and did not understand that it was not allowed by Islam. I signed the contract, but formalities took one year, and i was praying in FAJR Prayer that he will not take a bank loan and that God will not let us down (my mother & me). And whenever I try to mention to my mother that we might to not have the house, she breaks down. Unfortunately, he did take a bank loan interest based. And now i can not describe to you my fear of God and my despair because the loan is in my name even though i am not paying it. And it is useless that i talk to my father, because my father (May God forgive him) does not pray, and will not listen to me. Yesterday i cried all night, i don’t want to live in a house acquired by "Riba". What can i do so that God forgives me ? Notes please reply to this long question, because this sin is too heavy on my heart and kills me. JAzakom Allahou Khairan.

Fatwa

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Publication Date

2002-09-25

Main Subjects

Economics & Business Administration
Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Banks
• Islamic jurisprudence
• Islamic economics
• Housing
• Financing
• Purchasing
• Real property
• Bank loans
• Usury

Data Type

Fatawa

Language

English

Record ID

BIM-724619

• APA
• MLA
• AMA