What is the ruling on taking out a loan from Islamic banks (such as Dubai Islamic Bank and Abu Dhabi Islamic Bank) to buy a car?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
Islamic banks do not lend; rather, they engage in murabaha sales to a purchaser, whereby the bank buys the commodity after the client promises to purchase it, and then sells it to him at a profit. The ruling on this type of sale is clarified in Fatwa No. 41797.
Summarized from the full answer at Ftawy · imported
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