ASSALAM V V
I WANT TO BUY A HOUSE THREW ISLAMIC BANK ACCORDING TO MURABAHA FINANCING. IT IS RIGHT? IS IT NOT RIBA?
Assalam u Alaikum Wa Rahmatullah
Murabaha may be used as a method of financing that is Shariah-compliant. If the bank fulfills all the conditions for the validity of Murabaha in house financing then it would be permissible to finance house through such bank.
And Allah knows best.
Mufti Ikram ul Haq
Fatwa Center of America