Financing house purchase in the west : buying first home in Australia

Fatawa Question

Hi, I’m a 22 year old Muslim female and I have a question on Usury. I have a lot of Muslim friends who are buying there first homes and investing in banks and so forth so they can make some more money. From my understanding and what I have read in the Qur’an, it says you can’t go into anything that's involved with interest (Riba) as it represents that you are declaring war against god ? How would a person so concerned about this get a loan without doing anything that is going to make them feel like they have committed a Haram act. I did get loans in the past but this is all before I found out about the whole usury thing. Now I don’t want to get a loan at all as I know it’s against our religion. But this however is causing friction between my partner as he wants to get a house and pay it off and says that’s the only way we can do it as how are we ever going to afford to pay cash. I know what he is trying to say, but it’s so hard as I don’t want to do anything wrong by Islam if I can avoid it and do it another way. Have you got any suggestions on what one should do ? Do you get a loan and pay it off or do you not succumb to societies luxuries ? Are there other alternatives that someone can do ? I don’t want to be declaring war against Allah, and I will do anything to make sure that I don’t do that. Thank you in advance.

Fatwa

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Publication Date

2002-03-04

Main Subjects

Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Islamic jurisprudence
• Housing
• Purchasing
• Australia

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-725430

• APA
• MLA
• AMA