Is it permissible to obtain financing from a bank by the bank selling shares it owns to the client, and then the client authorizes the bank to sell them to a third party so that the client receives the amount with interest for deferred payment, knowing that the client does not own the shares and does not know if the bank actually sells them?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
If the client has the option not to appoint the bank to sell the shares, and the shares are permissible, then there is no objection to the transaction. The client is permitted to appoint the bank or a brokerage firm to sell the shares after they become his property.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/176923
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- Ftawy
- Original fatwa ID
- 176923
- Imported
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- Source text, unreviewed
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