What is the ruling on purchasing an apartment by installments using the Murabaha to the Orderer formula, in accordance with the established controls and conditions, and how can this aforementioned financing be obtained?

Purchasing an apartment in installments from a bank is permissible if the bank buys and owns the property before selling it to you through a murabaha (cost-plus-profit) transaction, even if it sells it for more than its original price. However, it is not permissible if the bank pays the price of the apartment to you and then adds its interest, because that would be an interest-based (usurious) loan. It is permissible to mortgage the sold item to guarantee the installments. It is also permissible to insure the mortgage if it is a cooperative, takaful (mutual guarantee) insurance, and not commercial.