What is the ruling on an employee benefiting from their company's contribution to purchasing a car in installments through a usurious bank, given that the car is prohibited from being sold to the bank, and does the ruling differ if the employee pays their full share upon purchase?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
It is not permissible to buy a car or anything else through a usurious bank, because the bank provides a usurious loan with interest to those who want the car. This is in contrast to Islamic banks, which buy the commodity, take possession of it, and then sell it. This transaction is not permissible even if the portion is paid at the time of purchase, because that is considered participation in and approval of a usurious transaction between the company and the bank.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/51447
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- Original fatwa ID
- 51447
- Imported
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- Source text, unreviewed
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