Darul Iftaa Mahmudiyyah

Is it permissible for me to make use of an Islamic Vehicle Finance?

· 15 Jumada II 1439 AH1 min readFatwa 39890English

Question

I need to buy a van to travel to work daily as the road conditions are not suitable for the vehicle I'm currently using. I don't have sufficient funds to purchase a van with cash immediately. I am thinking of making use of the banks Islamic Vehicle finance. Please recommend which types would be permissible to make use of as I do understand that the banks revise and amend these products from time to time.

Answer

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

As-salaamu `alaykum wa-ramatullahi wa-barakatuh.

We are not aware of any Shariah Compliant Vehicle finance product. If anyone claims having such a product, you may obtain a copy of the contract and forward it to us for our observations.

And Allah Ta`ala Knows Best.

Hussein Muhammad.

Student Darul Iftaa

Arusha, Tanzania

Checked and Approved by:

Mufti Ebrahim Desai.

Answered by
Hussein Muhammad
Checked & approved by
Mufti Ebrahim Desai
View original Compare with other Darul Iftas
Questions about this ruling, answered only from the archive with sources.

Where scholars differ, it’s safer to take the more cautious view.

Fatawa SA is an independent, read-only index of fatawa already published by Darul Iftaa Mahmudiyyah. It is not a fatwa service. For your own situation, please ask a Mufti. Report an issue

For corrections or mistakes, please email us at fatawasa786@gmail.com.

Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/39890
Fatawa SA: https://fatawa.co.za/fatwa/askimam-39890

People also ask

Is buying a car on finance permissible?

“The loan which the bank provides the client with to purchase a vehicle or property is an interest-bearing loan. Hence, it is not permissible for one to purchase a vehicle or property through the bank, regardless of whether the…”

Mufti Online · 70 fatawa from 5 Darul Iftas on this

What the Darul Iftas say

Related fatawa