Question

Bank Loan to Buy House in Lebanon

264

Question

Am I able to request a loan from a bank for buying a house in a country like Lebanon?

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Is doing an internship in a bank permissible?

Ruling on taking a bank loan to avoid renting

Purchased a House Through a Conventional Loan with a Fixed Monthly Payment

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Accepted Answer

All perfect praise be to Allah, The Lord of the Worlds. I testify that there is none worthy of worship except Allah, and that Muhammad is His slave and Messenger.

If the loan contains any Riba (interest and/or usury), i.e. includes any interest on settlement, even though this interest is small, then this loan is forbidden as it is a sort of usury.

A Muslim must not deal with Riba as it is forbidden for him to do so, no matter where he is or what his purpose from it is. Under no circumstances, can usury be lawful to Muslims.

Allah knows best.

Fatwa

Bank Loan to Buy House in Lebanon

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Answer

Related Fatwa

Ruling on Bank Accounts and Credit Cards in Western Countries

Ruling on depositing money in a bank account that is involved in Riba

Is doing an internship in a bank permissible?

Ruling on taking a bank loan to avoid renting

Purchased a House Through a Conventional Loan with a Fixed Monthly Payment

Dealing with Riba-based Banks

Working in Riba-based Commercial Banks

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