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The question

What is the ruling on purchasing an apartment through an Islamic bank that charges a large profit, and is this permissible with the intention of securing shelter and housing, and not for trading, especially since the questioner owns another house in his home country that requires maintenance and is not registered in the husband’s name?

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Source: FtawySummary from Ftawy's records · added here Sep 2, 20261 min readAlso available in العربية
The answer

It is permissible to deal with an Islamic bank and purchase an apartment through it using an installment sale or istisna' (manufacturing contract) system, provided that the bank owns the apartment before selling it and it enters into its guarantee, and that the bank adheres to the Shariah guidelines in all its transactions. However, if the bank is usurious or does not adhere to the Shariah guidelines, it is not permissible to deal with it, nor is it permissible to purchase the apartment except in accordance with the Shariah guidelines.

Summary from Ftawy's records · added here

Reviewed by El Fatwa's sharia committee.

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
110252
Added here
. This is when the answer was added to El Fatwa, not the fatwa's date.
Text
Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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Read the full answer on Ftawy