Are Ijarah Home Loan Products are Shariah Compliant

Fatwa ID: 04006

Answered by: Maulana Muhammad Adnan 

 

Question


I would like to find out whether Ijarah, home loan products are Shariah-compliant? E.g. Amanah www.amanah.com.au.

 

 

In the name of Allah, the most Beneficent, the most Merciful

 

Answer:

 

The chairman of Amanah Islamic Finance is Mufti Muhammad Imran, who is the son of Mufti Taqi Usmani( May Allah Ta’ala protect him) and the grandson of Mufti Muhammad Shafi (may Allah Ta’ala have mercy on him). The transaction process mentioned on their website complies with the Islamic transaction of wakaalah, Ijarara and wa’ad and is therefore permissible.

 

 

Only Allah Knows Best

Written by Maulana Muhammad Adnan

Checked and approved by Mufti Mohammed Tosir Miah

Darul Ifta Birmingham

 

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