What is the ruling on dealing with a bank that claims to be Islamic when purchasing a building material or a car, given that the bank buys it and then sells it at a higher price, with the option of not being obligated to buy until the bank takes possession of it, and in the case of a car, the buyer pays fees if they withdraw from the purchase? And is it permissible to buy a new car from the bank without seeing it, and suffice with a description of its specifications?

The transaction in which the bank purchases the desired commodity and then sells it to you (Murabaha for the one who commands the purchase) is Islamically permissible and occurs in stages: the customer requests the bank to purchase a commodity, then the bank purchases it, and then the bank sells it to the customer either for cash or in installments. The Islamic Fiqh Academy has permitted this type of sale on the condition that the commodity first enters the ownership of the bank, and that the bank bears responsibility for damage or defects before delivery, and that the conditions of sale are met and its impediments are absent. It is permissible for the commodity to be specified by either the customer or the bank, and this does not affect the validity of the transaction.