Ijara CDC Islamic Finance
Question
My question is regarding the permissibility of financing a home through Ijara CDC which is one of the biggest Islamic Finance lenders in USA and Canada and the only one in Canada. Their website is https://www.ijaracdc.com. I have a sample contract from Ijara that I can share. Please provide your opnion on the halal authenticity of this Islamic Finance arrangement.
Answer
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.
Brother in Islaam,
We have perused through the website and have not found the information and details provided sufficient to issue a ruling. Kindly forward us their contract and related details at admin@daruliftaa.net for our observation and advice.
And Allaah Ta’aala Knows Best.
Muajul I. Chowdhury
Student, Darul Iftaa
Astoria, New York, USA
Checked and Approved by,
Mufti Ebrahim Desai.
- Answered by
- Muajul I. Chowdhury
- Checked & approved by
- Mufti Ebrahim Desai
Fatawa SA is an independent, read-only index of fatawa already published by Darul Iftaa Mahmudiyyah (AskImam). It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.