What is the ruling on taking out a government-subsidized housing loan from the Oman Housing Bank to build a home, knowing that the bank handles all construction procedures and does not disburse any money to the borrower, and the accrued interest is 6%, of which the government bears 3%?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
This transaction is a loan from the bank with usurious interest for building a dwelling, and this is impermissible except in a case of extreme necessity, which is the inability to reside in a rented property.
Summarized from the full answer at Ftawy · imported
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