Is it permissible to obtain a personal loan of 100,000 from Qatar Islamic Bank to purchase a car, to be repaid over 4 years with a profit rate of 3.2%?
The financial transactions conducted by Islamic banks are not called loans because it is not permissible to take interest on a loan; otherwise, it would be usury. Rather, these are murabaha and similar permissible sales.
Summarized from the full answer at Ftawy · reviewed Sep 2, 2026
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