Miscellaneous >> Halal & Haram
Question ID: 33118Country: NO
Answer ID: 33118
Bismillah hir-Rahman nir-Rahim !
(Fatwa: 1448/887/H=1432) As you also know that interest is prohibited and haram. If you say to the bank manager that they should buy so and so house and take it into their possession (i.e. for four lakhs). Thereafter, they fix the total amount which they want to receive as monthly instalments and you purchase it on the total price for example in six lakh rupees and you pay this amount in monthly instalments, then it is lawful and it shall not have interest dealing, rather it shall have two transactions and both shall be right. You should understand it by local Ulama fully and follow it practically.
Allah (Subhana Wa Ta'ala) knows Best
Darul Ifta,
Darul Uloom Deoband, India