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The question

Is it permissible to take a loan from Al Baraka Islamic Bank in Turkey to buy an apartment and sell it for profit, given that there is a 5% interest deducted from the borrowed amount?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

If the aforementioned loan is an interest-bearing (riba-based) loan, then it is forbidden by Sharia, and the fact that the bank carries an Islamic name does not make it permissible. Dealing in usury (riba) is one of the major sins and is only permissible in cases of dire necessity, and studying is not considered one of these necessities. It is possible to purchase an apartment in installments through murabaha (cost-plus financing) and then sell it for cash, which is known as tawarruq.

Summarized from the full answer at Ftawy · imported

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Source platform
Ftawy
Original fatwa ID
150991
Imported
Translation status
Source text, unreviewed
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