Amanah Islamic Finance

(+92) 0317 1118263

Amanah Islamic Finance

Financial Transactions,Interest,Amanah Islamic Finance

Fatwa No :

41148

| Date :

2020-07-04

Fatwa No : 41148
Amanah Islamic Finance

معاملات / مالی معاوضات / سود

Amanah Islamic Finance

A few years ago, the concept of Islamic banking was brought to Melbourne, Australia. The name of the bank is Amanah Islamic Finance. It is said that the son of Mufti Taqi Usmani was associated with this institute. My question is that would it be permissible to finance a home through this institute? They do not provide clients with any information regarding their funds. However, it seems as though the source of their funds is not the conventional bank. My first question is; is it permissible to take an Islamic loan for this institute? Secondly, if the source of their funding is a conventional bank, however, there is no certainty about this fact, will the one taking the loan be sinful?

الجوابُ حامِدا ًو مُصلیِّا ً

In the name of Allah, the Beneficent, the Merciful
If the services provided at the institute are based on Islamic principles, and are managed and supervised by certified and reliable scholars, then it would be permissible to conduct financial transactions through this institute. However, if the questioner does conduct any lawful (financial) transaction with the said Islamic financial institute without being aware about their association with any other conventional bank, then the questioner will not be accountable for this.
And Allah knows best.

And Allah knows best
Darulifta Jamia Binoria Aalamia

Fatwa No 41148 Verify Now

0 3008

Related Fatawa Related Fatawa

taking loan for business from bank
Scanned English 1 Interest
Selling something on installments and repurchasing it with cash
Scanned English 3 Interest
Engaging in Interest Based Transactions with Non-Muslims in Darul-Harb (Territory of War)
Scanned English 0 Interest
Nowadays the government is giving loans on 5% markup rate
Scanned English 0 Interest
I would like to know about interst in darul harab
Scanned English 0 Interest
Muslim get interest being a resident or citizen in non Islamic country
Scanned English 0 Interest
Receiving more than the amount that was lent
Scanned English 0 Interest
I have an interest based loan
Scanned English 0 Interest
Amanah Islamic Finance
English 0 Interest
Ruling on interest received from savings account
Unicode English 0 Interest
Taking a Loan and Repaying It in Installments with an Additional Amount
Unicode English 0 Interest
Is it permissible to sell truck bilties (freight receipts)?
Unicode English 1 Interest
Taking interest in order to spend on virtuous deeds
Unicode English 0 Interest
Is it allowed to do interest based transaction with non-Muslims?
Unicode English 0 Interest
Behbood Savings Certificates and Shuhada Welfare Accounts
Unicode English 0 Interest
The Ruling of Riba (Usury) Between a Muslim and a Harbi in Non-Muslim Countries
Unicode English 1 Interest
Offering Sacrifice and giving charity from interest based loan
Unicode English 0 Interest
Two types of provident funds
Unicode English 0 Interest
Explanation of the Difference of Opinion and Ruling Regarding Taking Interest from Non-Muslims in Dar al-Harb
Unicode English 0 Interest
What is the ruling on taking an interest-based loan from a bank?
Unicode English 0 Interest
Ruling on Provident Fund
Unicode English 1 Interest
The Shariah Ruling on Insurance
Unicode English 0 Interest
Who is entitled to the interest money?
Unicode English 0 Interest
Ruling on Life Insurance
Unicode English 0 Interest
What to Do with Health Insurance Money?
Unicode English 0 Interest

...

Related Topics Relative Topics

خرید و فروخت
Buying and Selling

95
سود
Interest

51
قرض
Loan

32
کاروبار
Trade and Business

31
ملازمت
Employment and Job

26
اجرت و کرایہ داری
Rent

25
شرکت و مضاربت
Company and speculation

21
ہدیہ
Gift

15
رشوت
Bribery

5
رہن یا گروی
Mortgage

2

Amanah Islamic Finance        
    
    Question:
    A few years ago, the concept of Islamic banking was brought to Melbourne, Australia. The name of the bank is Amanah Islamic Finance. It is said that the son of Mufti Taqi Usmani was associated with this institute. My question is that would it be permissible to finance a home through this institute? They do not provide clients with any information regarding their funds. However, it seems as though the source of their funds is not the conventional bank. My first question is; is it permissible to take an Islamic loan for this institute? Secondly, if the source of their funding is a conventional bank, however, there is no certainty about this fact, will the one taking the loan be sinful?
    Answer:
    In the name of Allah, the Beneficent, the Merciful
If the services provided at the institute are based on Islamic principles, and are managed and supervised by certified and reliable scholars, then it would be permissible to conduct financial transactions through this institute. However, if the questioner does conduct any lawful (financial) transaction with the said Islamic financial institute without being aware about their association with any other conventional bank, then the questioner will not be accountable for this.
And Allah knows best.