Is it permissible to purchase a house in America by installments with interest, given that the monthly rent is equal to the installment payment? And do you support Sheikh Al-Qaradawi's fatwa permitting this for purposes other than trade and to save on housing rent?
Usury is forbidden by Islamic law and is dangerous for the Muslim in this world and the Hereafter. Allah Almighty has warned against it and threatened those who consume it with war. The Prophet (peace be upon him) cursed the one who consumes usury, the one who feeds it, its scribe, and its two witnesses. Dealing with interest in the world of finance and business is the very essence of usury, so one must avoid it, be mindful of Allah Almighty, and rely upon Him. For whoever fears Allah, He will make for him a way out and provide for him from where he does not expect. It is advisable to leave countries whose people deal in usury, except in cases of extreme necessity.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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