What is the ruling on real estate financing and the tripartite contract established between the bank, the fund, and the individual, and when is it permissible and when does it become usurious?

The ruling on real estate financing varies depending on the type of transaction. If the bank lends money to the client to purchase the property and then reclaims it with an increment through installments, this is a usurious and forbidden contract. However, if the bank buys the property and owns it, then sells it to the client, this is a permissible Murabaha. It is also permissible for the bank to agree with another party to build a house with the required specifications, which is known as parallel Istisna' (manufacturing contract).