Shari’ah compliant diminishing Musharakah contract
Question
Slm,
I wanted to find out would it be possible to get a sample contract that one could use for purchasing a home via co-ownership + rent. I have searched the internt and have found the following contracts
https://www.ethicainstitute.com/trainingmodules.aspx?Id=4
Are the sample contracts provided by them compliant? If not i would greatly appriciate it you could direct me to a source i could get such a contract. I have searched previous questions but can not seems to find what im looking for.
Jzk
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
Unfortunately, the Darul Iftaa does not currently have its own sample of a Shari’ah compliant diminishing Musharakah contract.
The link you have referred to does not contain a diminishing musharakah contract. If you come across a sample, you may refer the contract to us for review.
Alternatively, you may email Mufti Faraz Adam (Hafizahullah) on his website for further assistance.
And Allah Ta’āla Knows Best
Bilal Yusuf Pandor and M. Akhtar
Student Darul Iftaa
Lusaka, Zambia
Checked and Approved by,
Mufti Ebrahim Desai.
- Answered by
- Bilal Yusuf Pandor and M. Akhtar
- 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.