Darul Iftaa Mahmudiyyah

Buying a house with ICFAL

· 17 Muharram 1436 AH1 min readFatwa 31040English

Question

I hope that you are doing well. I was wondering whether you can have a look at the link below about Islamic mortgage from ICFAL, Sydney, Australia, and let me know whether it is halal or not. Thanks.

http://www.icfal.com.au/images/how icfal ser property finance works_march 12.pdf

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

In order for us to comment on the Shari’ah Compliancy of the scheme in reference, we require the actual contract.

If you have a copy of the contract for the scheme in reference, you may forward it to: admin@daruliftaa.net.

And Allah Ta’āla Knows Best

Muhammad Haris Siddiqui

Student Darul Iftaa
Melbourne, Australia

Checked and Approved by,
Mufti Ebrahim Desai.

Answered by
Muhammad Haris Siddiqui
Checked & approved by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/31040
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