Assalamu Alaikum wa Rahmatullahi wa Barakathuhu!
What do the learned Muftis say about the issue that I am a finance professional working in KSA, and I need a car for my use in KSA and also for my home use in Pakistan on installments, and I have studied some Islamic banking models like the car offered by Meezan Bank, which is supported by a fatwa. But as a finance professional I am not satisfied whether it is Halal or not and will it not be considered as interest?
According to our information, Meezan Bank is currently conducting its financial affairs under the supervision of a Sharia Board consisting of qualified Muftis, therefore it is permissible and correct for the questioner to purchase a vehicle on installments from the said bank.
Permissibility and impermissibility of profits gained through Islamic banks
English 0 Islamic Banking