Is it permissible to deal with a bank that buys a truck and leases it to me at a price higher than its original cost, with the truck remaining in the bank's name until the full amount is paid?

This transaction is impermissible for several reasons, including:

1. The bank contracted to sell the truck and took a portion of the price before purchasing it, which is forbidden in Islamic law, as the Prophet (peace be upon him) said: "Do not sell what you do not possess." 2. The bank retaining ownership of the car after selling it. This contradicts the requirements of a sales contract, which necessitates the transfer of ownership to the buyer.

To guarantee the bank's right, it is permissible for the bank to stipulate that the buyer mortgage the sold item to the bank, or mortgage something else, or what is known as a "formal mortgage," which prevents the buyer from selling the mortgaged item because it is mortgaged in favor of the bank.