The Ruling on Buying a House Through Institutions
Machine translationRead the Arabic original
Question:
We received this fax. The questioner asks: What is the ruling on buying a house for myself and my children through one of the institutions, given that a down payment has already been made in my name to the institution?
Answer:
If they bought it and the institution took ownership of it, or if it has been in their ownership for a long time and then they sold it to you, there is no harm in that for you or your descendants. The important thing is that the seller owns the item being sold before the contract with you. There is no harm in that; you may buy it from them for a cash price or a deferred or installment price. There is no harm in that,[Al-Baqarah 2:275],
We received this fax. The questioner asks: What is the ruling on buying a house for myself and my children through one of the institutions, given that a down payment has already been made in my name to the institution?
Answer:
If they bought it and the institution took ownership of it, or if it has been in their ownership for a long time and then they sold it to you, there is no harm in that for you or your descendants. The important thing is that the seller owns the item being sold before the contract with you. There is no harm in that; you may buy it from them for a cash price or a deferred or installment price. There is no harm in that,
But Allah has permitted trade and has forbidden interest
وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا
Source
قناة «العلامة الدكتور صالح الفوزان»، 1497 - حكم شراء منزل عن طريق المؤسسات - الشيخ صالح الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.