Topic: Shariah verdict about dealing with a specific bank   (No-6611)

Q Dear Mufti sahib,Hope you are well through fadhl of Allah SWA.I am citizen of England, and have a house, that I have rented.Currently, I am living in the Saudi Arabia, and working as a professor.I am planning to buy another house, so that after few years, when I return back to UK with my family, I will have some type of income.I have inquired with gatehousebank, who gives out Sharia compliance loan that I am planning to take, and would request your suggestion/decision, whether, the attached contract documents are complying the Sharia rules and it will permissible to take this mortgage.
Jazakallah khayr. May Allah SWA reward you in both worlds.

Please note that we may not be able to issue Fatwa regarding specific bank only on the basis of documents, as practices of each bank vary. We may issue Fatwa after detailed evaluation of whether banking activities are Shariah compliant. Therefore, in this case we may not be able to further our opinion regarding its Shariah compliance.
However, it is recommended to consult Shariah advisors of that particular bank and seek their opinion. If you trust them and satisfied with their competence and piety, you may follow them.

Allah knows best
Darulifta Al-Ikhlas, Karachi

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