What is the ruling on financing car purchases from Bank Al-Bilad based on the mentioned procedures, and is it considered compliant with Islamic Sharia?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
There is no harm in obtaining financing through the bank selling the car after possessing it and selling it to you on a deferred payment basis, then you sell it to a third party other than the bank or the dealership, provided that the contract is free from late payment penalties and that the bank adheres to guidelines.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/17462
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 17462
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy