Car lease on hire purchase : car leasing

Fatawa Question

Dear Prof Monzer Kahf Assalamu o Alaykum I want to know that how the car leasing (Ijarah) offering in Pakistan Mezaan Bank is Halal. I shall ask u this question in detail later, but first as you know, the banking system (invented by Jews) is itself against the fundamentals of Islamic Monetary system, whatever the name we give for our heart satisfaction. What I know basics about a bank is : a bank is an institute, which gives out money to people from its right hand (e. g. 10 $), and gets back from people (e. g. 15 $) over a period of time. The more the period, the more the bank profit is. Which means an institute that always gets fat and fat, wealthy and wealthy, no loss at all. This is I hope totally essence of Riba, against Shari’ah. Now all the banks of the world (Islamic, non-Islamic, etc.) are doing the same thing. Loan less money, get more money, i. e. a transaction of money in which bank is always on safe side, bank bear no loss at all, Bank gets wealthy always in every deal......................................... ! Would you disagree with me..................... ? Please reply me, so that I may ask you further, how the Car Ijarah of Mufti Taqi Usmani in Pakistan is Halal. Wassalam Sami

Fatwa

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Publication Date

2009-08-17

Main Subjects

Financial and Accounting Sciences
Islamic Studies

Topics

• Banks
• Islamic jurisprudence
• Islamic law
• Islam
• ٌLeasing
• Ruling in Islam
• Automobiles
• Business
• Usury

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-732515

• APA
• MLA
• AMA