Purchasing Housing Through an Interest-Based Method
Machine translationRead the Arabic original
The first question of Fatwa No. ( 8982 )
Q1: I am a worker and I live in government housing. In 1982, the Ministry of Housing decided that anyone who wants to buy the home they are living in can purchase it. My salary does not exceed 200 dinars per month. Under my care are my wife, three children, my grandmother, and my aunt. My aunt has two sons, and her husband is over 85 years old. The government decision states that if the resident cannot pay the full price of the house within five years—and this price is estimated at 5,900 dinars—then there is an increase of 45%. As you know, the housing crisis is severe, and I am confused about this matter.
A1: If the matter is as described in the question, then it is not permissible for you
to enter into this transaction because of the riba (usury or interest) involved in it.
Q1: I am a worker and I live in government housing. In 1982, the Ministry of Housing decided that anyone who wants to buy the home they are living in can purchase it. My salary does not exceed 200 dinars per month. Under my care are my wife, three children, my grandmother, and my aunt. My aunt has two sons, and her husband is over 85 years old. The government decision states that if the resident cannot pay the full price of the house within five years—and this price is estimated at 5,900 dinars—then there is an increase of 45%. As you know, the housing crisis is severe, and I am confused about this matter.
A1: If the matter is as described in the question, then it is not permissible for you
to enter into this transaction because of the riba (usury or interest) involved in it.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.