Transactions & Dealings >> Interest & Insurance
Question ID: 32464Country: United Kingdom
Answer ID: 32464
Bismillah hir-Rahman nir-Rahim !
(Fatwa: 966/L=378/TL=1432) As per the holy Quran it is haram to take interest based loan, hence you may not be given permission according to Shariah. However, if you deal the bank in a way that first the bank buys the home and sells you after including as much interest it wants in the original price and fixes the total price and you pay it on instalments, then it is allowed.
Allah (Subhana Wa Ta'ala) knows Best
Darul Ifta,
Darul Uloom Deoband, India