Home mortgage in western countries : buying a house in North America

Fatawa Question

Aslam Aleikum Uncle Abu Yaman, First, I wish you and your beloved a Mubarak and prosperous Eid. May Allah Almighty accept our good deeds. A brother who used to live in Edmonton, AB told me that you were there some time ago and delivered a lecture about buying house through mortgages. The brother told me that you have mentioned that the contract can be sharia compliant with three conditions. Would you please elaborate on that and en light me please. If you have text in Arabic it would be better. This is a grey area, or a Shubha. I have been thinking about it and reading and hearing from those who allow it and those who forbid it. One brother told me that buying a house through fixed interest rate is the closest to being Sharia complaint. Is that true ? Others say that this is the way it is in North America and we should go with flow. Kindly, at your convenience en light me with your valuable opinion. Jazakum Allah Kheiran Wa Ahsan Ilaikum. Warm Regards,

Fatwa

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Publication Date

2007-12-15

Main Subjects

Economics & Business Administration
Islamic Studies

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-785680

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