Darul Iftaa Mahmudiyyah

Ijara CDC Islamic Finance

· 4 Jumada I 1440 AH1 min readFatwa 41660English

Question

My question is regarding the permissibility of financing a home through Ijara CDC which is one of the biggest Islamic Finance lenders in USA and Canada and the only one in Canada. Their website is https://www.ijaracdc.com. I have a sample contract from Ijara that I can share. Please provide your opnion on the halal authenticity of this Islamic Finance arrangement.

Answer

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

As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.

Brother in Islaam,

We have perused through the website and have not found the information and details provided sufficient to issue a ruling. Kindly forward us their contract and related details at admin@daruliftaa.net for our observation and advice.

And Allaah Ta’aala Knows Best.

Muajul I. Chowdhury

Student, Darul Iftaa

Astoria, New York, USA

Checked and Approved by,

Mufti Ebrahim Desai.

Answered by
Muajul I. Chowdhury
Checked & approved by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/41660
Fatawa SA: https://fatawa.co.za/fatwa/askimam-41660

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