What is the ruling on purchasing a pickup truck for work through the Social Fund for Development, with financing from Faisal Islamic Bank or the Agricultural Credit Bank, with a down payment of 5,000 EGP out of a total of 85,000 EGP, and with an interest rate of 12%?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
The transaction is valid if the bank buys the car, and it enters into its possession and responsibility first, and then sells it to you at a profit. However, if the bank gives you the price of the car or pays it on your behalf with interest, then this is a usurious and prohibited loan. The fact that the car is for investment does not affect the ruling.
Summarized from the full answer at Ftawy · imported
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- Source platform
- Ftawy
- Original fatwa ID
- 117299
- Imported
- Translation status
- Source text, unreviewed
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