Darul Iftaa Mahmudiyyah

Gatehouse Bank Diminishing Musharakah

· 25 Jumada I 1440 AH1 min readFatwa 41763English

Question

Asalamu Alaykum, Dear Respected Mufti Saheb, I’d like to ask that is the buy-to-let scheme offered by gatehouse bank ( UK ) Shar’iah compliant? Here is the link to one of the product detailed description, it’s based on Diminishing Musharakah. https://gatehousebank.com/downloads/Buy-to-let-criteria-for-UK-residents-BTLCUK51218vF12.pdf JazakAllah khair

Answer

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

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

The details provided on the link above are not sufficient for us to issue a ruling. You may forward us their contract at admin@daruliftaa.net and we will advise accordingly.

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/41763
Fatawa SA: https://fatawa.co.za/fatwa/askimam-41763

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