Darul Iftaa Mahmudiyyah

Verifying the FNB vehicle finance model by Mufti Ebrahim Desai

· 26 Jumada I 1441 AH1 min readFatwa 42079English

Question

Assalamualikum

I had a meeting with Ali khan from FNB who claims that the vehicle finance model they use has been sanctioned by Muft Ebrahim Desai for over 17 years now. is this true.

I have however found a Q and A on the website dated 2017 august which says that "we do not sanction any of their products"

please clarify as they are using Mufti sahebs name.

wassalaam

Answer

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

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

You may request Ali Khan to forward a copy of the present vehicle finance model to Mufti Ebrahim Desai Sahib to verify the claim made by Ali Khan.

Mufti Ebrahim Desai Sahib has pioneered and designed the FNB motor vehicle finance product about 17 years ago. That finance product was supervised by Mufti Ebrahim Desai until he was the Chairman of the Shariah Board of FNB Islamic Finance until he resigned around seven years ago.

We do not know if that same finance contract designed by Mufti Ebrahim Desai Sahib is being used or there are changes in the contract and procedure. If there are changes in the contract or procedure of the contract designed by Mufti Ebrahim Desai Sahib, then he cannot guarantee the contract to be Shariah compliant.

You or anyone from the public may obtain a copy of the FNB vehicle contract from Ali Khan and forward to us our review and confirmation. We will advise accordingly.

And Allah Ta’āla Knows Best

Shakib Alam

Student - Darul Iftaa

Pennsylvania, USA

Checked and Approved by,

Mufti Ebrahim Desai.

02-27-1441|10-26-2019

Answered by
Shakib Alam
Checked & approved by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/42079
Fatawa SA: https://fatawa.co.za/fatwa/askimam-42079

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