Darul Iftaa Mahmudiyyah

Rayyan Bank’s Halal mortgage product

· 12 Rabiʻ I 1437 AH1 min readFatwa 34199English

Question

Has there been a reply to fatwa 32264 in regards to halal mortgages in the UK?

Answer

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

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh

We cannot comment on Rayyan Bank’s Halal mortgage product as we have not received a copy of the terms and conditions of the contract. However, we have received a copy of the brochure. There are certain aspects of the product which are doubtful from a Shariah perspective. We advise the public to abstain from the product until we reach a definitive conclusion on the matter.

And Allah Ta’āla Knows Best

Ismail Desai,

Darul Iftaa

Checked and Approved,

Mufti Ebrahim Desai.

Answered by
Ismail Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/34199
Fatawa SA: https://fatawa.co.za/fatwa/askimam-34199

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