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The question

Is purchasing a car and paying half its price to a tourism company, which then leases it back to me annually for five years before transferring ownership to me, permissible or forbidden?

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Source: FtawySummary from Ftawy's records · added here Sep 2, 20261 min readAlso available in العربية
The answer

This transaction is not permissible because payment must be made through a legitimate means, and it is not permissible to rent something you own. The company can buy the car and then sell it to you through murabaha (cost-plus financing), and the car becomes your property as soon as you purchase it. The company may retain its name in official documents for licensing necessities, while proving your ownership of it. The Council of Senior Scholars has permitted the seller to keep the car's registration for documentation purposes.

Summary from Ftawy's records · added here

Reviewed by El Fatwa's sharia committee.

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
18493
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.
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Read the full answer on Ftawy