AskImamDarul Iftaa Mahmudiyyah (AskImam)

Guidance on Home loan

Fatwa 35692English
Finance and Commerce

Question

we are living in Singapore and the country does not offer islamic home loans, can we please have guidance on home loan from traditional bank in a country where islamic finance is not available? Jazakallah khair

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

We applaud your sensitivity towards halal.

The following are Islamic Banks in Singapore,

CIMB Islamic Bank,1

Islamic Bank of Asia,2

MayBank2u.3

They provide financing products for home loans. To assess the Shariah compliancy of the financing product, you may forward the contract to us. We will consider the Shariah Compliancy of the contract accordingly.

And Allah Ta’āla Knows Best

Huzaifah Deedat

Student Darul Iftaa
Lusaka, Zambia

Checked and Approved by,
Mufti Ebrahim Desai.

Answered by
Huzaifah Deedat
Checked & approved by
Mufti Ebrahim Desai
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