What is the ruling on purchasing a car by installments through Islamic Murabaha from the Saudi Hollandi Bank, and are their fatwas regarding this considered valid?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
It is permissible to purchase a car or other items in installments through a usurious bank, provided that the bank owns the car, takes possession of it, and it comes under its guarantee. Furthermore, the bank's contract system must not stipulate an increase in case of late installment payment. It should be noted that it is not permissible to open an account, even a current one, in a usurious bank if an Islamic bank is available.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/40405
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- Original fatwa ID
- 40405
- Imported
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- Source text, unreviewed
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