House purchase financing in Muslim countries : buying a house on interest mortgage in a Muslim country
Fatawa Question
Assalamu Alaykum. We are very happy to have you by our sides. May Allah reward you for everything. Please I want to know if I have the right to take a loan from a bank (which means with Riba) in order to buy an apartment. I'm married and I have 2 kids. There are no banks in morocco offering a free loan so the alternative is either to rent or to live with parents. This last solution isn't suitable for us. And concerning renting, we see it like money wasting especially that the amount we'd pay each month while renting is higher than the one in the case of buying. I've heard that this loan could be taken if there is a need (Darura). Is our case considered as a Darura ? And could we take the loan ? Please advise us and Jazakumu Allahu 'Anna Khayran.
Fatwa
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Publication Date
2001-03-02
Main Subjects
Financial and Accounting Sciences
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-725527
American Psychological Association (APA)
Qahf, Mundhir. 2001-03-02. House purchase financing in Muslim countries : buying a house on interest mortgage in a Muslim country. .
https://search.emarefa.net/detail/BIM-725527
Modern Language Association (MLA)
Qahf, Mundhir. House purchase financing in Muslim countries : buying a house on interest mortgage in a Muslim country. 2001-03-02.
https://search.emarefa.net/detail/BIM-725527
American Medical Association (AMA)
Qahf, Mundhir. 2001-03-02. House purchase financing in Muslim countries : buying a house on interest mortgage in a Muslim country.
https://search.emarefa.net/detail/BIM-725527
