Is it permissible to deal with an Islamic bank that purchases the house on behalf of the client by virtue of an agency from him, then the client pays the installments to the bank with a fixed increase, provided there is a penalty clause that is spent on charitable projects or refunded after five years? And is it permissible to open Murabaha accounts in this bank if the first transaction is impermissible?

For the Murabaha to the one who commands the purchase to be permissible, it is stipulated that the bank must genuinely own the property, not merely act as an agent. Otherwise, it would constitute a forbidden interest-bearing loan, as stated in the resolution of the Islamic Fiqh Academy. It is also stipulated that the contract must be free of late payment penalties. One can refer to the bank's Sharia committee to ascertain the permissibility of transactions and to ensure that they are fully aware of all details and that employees adhere to them.