Fatwa ID: 04520
Answered by: Muftiyah Sabrina Al-Faarsiyyah
I would be grateful if you could advise on the permissibly of Al Rayyan Bank in the UK's home purchase and Buy to Let Plans.
I've attached their terms for your reference and their certification.
I would be grateful if you could study the terms and let me know if it would be permissible to take out either of the options as I do not want to get involved in any interest-based or unlawful transactions.
If more information is required please let me know
بِسْمِ اللهِ الرَّحْمنِ الرَّحِيْم
In the name of Allah, the Beneficent, the Merciful
Al Rayan Bank has reputable scholars with expertise in Finance that have approved the bank as Shari’ah compliant. However, because there are scholars that have objected to their validity, it would be best if you opt for it if it is your only Shari'ah-compliant option.
Only Allāh Ta’ālā knows best
Written by Muftiyah Sabrina Al-Faarsiyyah
Checked and approved by Mufti Mohammed Tosir Miah
Darul Iftā Birmingham