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The question

Did Sheikh Al-Qaradawi permit buying a house in Morocco through usurious banks due to the absence of Islamic banks, the high cost of real estate, and the rising price of rent?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

It is impermissible to engage in Riba (usury/interest) for purchasing a home or anything else, except in cases of dire necessity that would lead to death or near-death. Living in a rented accommodation does not constitute a dire necessity.

There are -compliant alternatives to Riba in financial transactions, such as Tawarruq (monetization), Istisna' (manufacturing contract), and Murabaha (cost-plus financing). These alternatives fulfill the objectives of both parties in providing housing and achieving lawful profit.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
111089
Imported
Translation status
Source text, unreviewed
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