The Ruling on Bank Financing in Exchange for Pledging an Apartment
Machine translationRead the Arabic original
Question:
May Allah greet you, Shaykh. I have an inquiry regarding bank financing in exchange for pledging an apartment. The bank says that it transfers the apartment to you as if it were a lease; you sell it to them, and they lease it to you. In the end, you benefit from the amount of the financing. Is this permissible or not?
Answer:
My brother, do not approach the banks. The banks do not deal except with riba (usury or interest), and they do not lend except with riba. Stay away from them. Yes.
The presenter:
Yes. Another question. Well, thank you. May Allah bless you. May Allah reward you.
May Allah greet you, Shaykh. I have an inquiry regarding bank financing in exchange for pledging an apartment. The bank says that it transfers the apartment to you as if it were a lease; you sell it to them, and they lease it to you. In the end, you benefit from the amount of the financing. Is this permissible or not?
Answer:
My brother, do not approach the banks. The banks do not deal except with riba (usury or interest), and they do not lend except with riba. Stay away from them. Yes.
The presenter:
Yes. Another question. Well, thank you. May Allah bless you. May Allah reward you.
Source
قناة «مكة و المدينة»، 15 / فتاوى على الهواء - 23 06 1438هـ _ الشيخ صالح الفوزان — youtube.com (29:21)
The Arabic text is a machine transcription of the audio recording.