Islamic vehicle financing in South Africa
Question
As Salaamu Alaikum Respected Mufti,
I need to buy a van to travel to work daily as the road conditions are not suitable for the vehicle I'm currently using. I don't have sufficient funds to purchase a van with cash immediately. I am thinking of making use of the banks Islamic Vehicle finance. Please recommend which types would be permissible to make use of as I do understand that the banks revise and amend these products from time to time.
Answer
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.
Brother in Islaam,
You may obtain the contract of the financing scheme you are interested in and forward it to us at [email protected] 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.
- Answered by
- Muajul I. Chowdhury
- Checked & approved by
- Mufti Ebrahim Desai
Fatawa SA is an independent, read-only index of fatawa already published by Darul Iftaa Mahmudiyyah (AskImam). It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.