The ruling on purchasing real estate through a bank on an installment basis
Machine translationRead the Arabic original
Question:
May Allah reward you. He says: What is the ruling on purchasing a piece of real estate through one of the banks, such that the bank buys it and then sells it to him on an installment basis?
Answer:
If the bank owns the goods before selling them to this buyer, and the buyer owns them fully, then sells them to the borrower, and the borrower takes possession of them from the bank, there is no harm in that. However, if the bank has nothing, has no goods, and merely contracts with the borrower, negotiates with him, then goes and buys the goods and delivers them to the borrower, this is not permissible, because it is selling what one does not own. Yes.
May Allah reward you. He says: What is the ruling on purchasing a piece of real estate through one of the banks, such that the bank buys it and then sells it to him on an installment basis?
Answer:
If the bank owns the goods before selling them to this buyer, and the buyer owns them fully, then sells them to the borrower, and the borrower takes possession of them from the bank, there is no harm in that. However, if the bank has nothing, has no goods, and merely contracts with the borrower, negotiates with him, then goes and buys the goods and delivers them to the borrower, this is not permissible, because it is selling what one does not own. Yes.
Source
75-لقاءات مع الشيخ صالح الفوزان - 03----13-4-1432 — archive.org (55:01)
The Arabic text is a machine transcription of the audio recording.