Darul Iftaa Mahmudiyyah

Is it halal or haram to borrow money from the bank on interest in order to purchase a house or a property ?

· 6 Jumada II 1421 AH1 min readFatwa 685English

Question

The question text was not published separately; the title stands in for it.

Is it halal or haram to borrow money from the bank on interest in order to purchase a house or a property ?

Answer

To take a loan on interest is strictly prohibited in Shari'ah.

The negative consequences of such a loan could be worse than the present grief and agony. As an alternative, we advise that instead of paying monthly instalments for the loan from the bank, you hire a house and pay a monthly rental.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai

Answered by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/685
Fatawa SA: https://fatawa.co.za/fatwa/askimam-685

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