Category: Business Matters
Fatwa#: 41660
Asked Country: Saudi Arabia

Answered Date: Jan 10,2019

Title: Ijara CDC Islamic Finance

Question

السلام عليكم ورحمة الله وبركته

My question is regarding the permissibility of financing a home through Ijara CDC which is one of the biggest Islamic Finance lenders in USA and Canada and the only one in Canada. Their website is https://www.ijaracdc.com. I have a sample contract from Ijara that I can share. Please provide your opnion on the halal authenticity of this Islamic Finance arrangement.

 

جزاكُمُ الله خيراً

Answer

In the Name of Allaah, the Most Gracious, the Most Merciful.

As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.

Brother in Islaam,

We have perused through the website and have not found the information and details provided sufficient to issue a ruling. Kindly forward us their contract and related details at admin@daruliftaa.net for our observation and advice.

 

And Allaah Ta’aala Knows Best.

Muajul I. Chowdhury

Student, Darul Iftaa

Astoria, New York, USA

 

Checked and Approved by,

Mufti Ebrahim Desai.

 

 

 

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