Darul Iftaa Mahmudiyyah

Gatehouse Bank Shariah Finance

· 6 Muharram 1441 AH1 min readFatwa 43070English

Question

Assalam alaikum wa rahmatullahi wa barakatu.

I am wanting to purchase my first home as currently living on rent. I have more than half the amount. I would lile to use the Gatehouse bank shariah compliant finance to purchase the property.

I understand the bank has a panel of scholars who have issued fatawa stating it is halal, however can you please confirm if its halal and permissible for me to use this financing system?

Jazakallah khair. Wassalaam

Answer

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

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

We are unable to comment on the Shari’ah compliancy of Gatehouse Bank as we have not seen the contracts and procedures of Gatehouse Bank.

And Allah Ta’āla Knows Best

Bilal Yusuf Pandor

Student Darul Iftaa

Lusaka, Zambia

Checked and Approved by,
Mufti Ebrahim Desai.

Answered by
Bilal Yusuf Pandor
Checked & approved by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/43070
Fatawa SA: https://fatawa.co.za/fatwa/askimam-43070

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