What is the ruling on purchasing real estate through an Islamic bank that pledges the property until the payment is completed?
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Question:
He says: What is the ruling on purchasing an apartment or a house through an Islamic bank, knowing that the bank pledges the property until the full amount is paid?
Answer:
If it is, as you say, an Islamic bank that does not deal in riba (usury or interest), and it buys an apartment or a villa for you on credit, then there is nothing wrong with that. However, if it deals in riba, it is not permissible for you to deal with it, nor may it buy for you while it is dealing in riba. As for the pledge, there is nothing wrong with it; the seller pledges it until you pay him, as mentioned previously.
He says: What is the ruling on purchasing an apartment or a house through an Islamic bank, knowing that the bank pledges the property until the full amount is paid?
Answer:
If it is, as you say, an Islamic bank that does not deal in riba (usury or interest), and it buys an apartment or a villa for you on credit, then there is nothing wrong with that. However, if it deals in riba, it is not permissible for you to deal with it, nor may it buy for you while it is dealing in riba. As for the pledge, there is nothing wrong with it; the seller pledges it until you pay him, as mentioned previously.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم شراء عقار عن طريق بنك إسلامي يرهن العقار حتى يتم السداد؟ للشيخ الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.