Using property bought with interest for prayers and other usages : using equity built through a conventional mortgage
Fatawa Question
Assalamu Alaikum, here is the situation : 2 years ago I financed a house with interest. I recently found out that I can go through the Islamic bank. The Islamic bank requires 20 % down of the value of the house. Can I use my equity that I earned for the time I lived there to use it for my deposit ? Or I have to sell it because it's Riba ? Or can you advise me of what I should do ? Thank you. Was Salamu Alaykum
Fatwa
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Publication Date
2001-12-24
Main Subjects
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-725575
American Psychological Association (APA)
Qahf, Mundhir. 2001-12-24. Using property bought with interest for prayers and other usages : using equity built through a conventional mortgage. .
https://search.emarefa.net/detail/BIM-725575
Modern Language Association (MLA)
Qahf, Mundhir. Using property bought with interest for prayers and other usages : using equity built through a conventional mortgage. 2001-12-24.
https://search.emarefa.net/detail/BIM-725575
American Medical Association (AMA)
Qahf, Mundhir. 2001-12-24. Using property bought with interest for prayers and other usages : using equity built through a conventional mortgage.
https://search.emarefa.net/detail/BIM-725575
