What is the Islamic law about the interest taken by a bank from a client who receives mortgage loan? - Questions Archive - IslamQuest is a reference for Islamic questions on the internet

Text
Thematic Category
Question keywords
Question code number

Question

Answer

Question or Answer

Advanced search

Please Wait

Visit
6411

Last Updated: 2011/09/27

Website code number fa5907 Archive code number 17009

group Laws and Jurisprudence

Summary of question

What is the Islamic law about the interest taken by a bank from a client who receives mortgage loan?

question

Is there any problem in mortgage with a high rate of interest? For example the principal amount is 18 thousand dollars which together with the interest becomes 30 thousand dollars that has to be repaid to the bank in different installments within ten year? (Ayatollah Bahjat is my Marja.)

Concise answer

We forwarded your question to the office of grand Ayatollah Bahjat (may his soul rest in peace) and the answer which came to us is as under:

If the mortgage facility is received in the form of a sale [contract], there is no problem in it.

[Note: In an Islamic mortgage transaction, instead of loaning the buyer money to purchase the item, a bank might buy the item itself from the seller, and re-sell it to the buyer at a profit, while allowing the buyer to pay the bank in installments.]

For further information in this regard see the following indexes:

1. Index: Interest and Mortgage Loan and Car loan, question No.3364 (site: 3627)

2. Index: Using Loan for Purposes other than that which was first declared to the bank, question No. 2672 (site: 3044)

3. Index: Receiving Bank Loan or Bank Facilities, question 1225 (site: 1222).

Detailed Answer

This question does not have a detailed answer.

Question translations in other languages

Comments

Number of comments 0

Thematic Category

Random questions

When and by whom did idol worshipping start in Mecca?

40275 تاريخ بزرگان 2012/02/15

After the tribe of Khuza’ah gained authority of the Kabah, the first person in charge was Amr ibn Lahiyy. His name was Harith ibn Amir. Amir changed the religion of Ibrahim (A.S.) and prompted people to worship statues. According to a narration, he went to Syria and witnessed a ...
I would like to know the methods of religious thought.

8982 Traditional 2006/07/15

There are three methods of religious thought in Islam. The Holy Quran in its teachings points to three paths for Muslims to follow in order to comprehend the purposes of religion and the Islamic sciences: (1) the path of the external and formal aspect of religion (the ...
What is the Islamic law about looking at pictures of a Muslim and non-Muslim woman without modest dress?

17542 Laws and Jurisprudence 2015/01/05

The rules applicable to seeing or looking at a non-mahram woman are not applicable to looking at a non-Mahram woman's picture or watching such women's video unless the later is broadcast live. Therefore, if one does not seek to derive pleasure and he does not have lustful ...
Are we forbidden to go to a somewhere that divine punishment has taken place?

6697 Traditional 2011/04/20

We have not come across a hadith in Islamic resources which forbids us from going to a location where divine punishment has taken place, although, there is a hadith in which Imam Ali (as) states: “It is not permissible for a prophet or the ...
What is the Islamic law about having an affair or illicit relationship with a person from the opposite gender? If their relationships do not lead to adultery, are they still sinful?

18166 Traditional 2012/02/15

Adultery is a great sin according to the Quran. God, the Exalted, says: "Nor come nigh to adultery: for it is a shameful (deed) and an evil, opening the road (to other evils)."
What is the essence of the Ruh (Soul/Spirit) and why doesn’t the Quran explain much about it?

26639 Exegesis 2010/09/05

The term "Ruh" has different meanings in different fields of science, referring to a different meaning in each one. In the Quran, this term also has its own special meaning and has been mentioned in different ways.Regarding the verse there are various opinions about ...
Do Shiites differentiate between Allah and Imams?

8012 Traditional 2012/10/11

Like all other schools, Shiite school has been encountering extremist groups that are called by different names such as ghulāt (exaggerators), muqassera and nawasib and which have, in the course of history, created difficulties for Shiites and their Imams. Shiite Imams made continuous efforts to protect Shiites ...
Can you please tell me how long it takes to study kharij lessons in Islamic seminaries?

7283 Laws and Jurisprudence 2008/07/22

This is the current curriculum that the Howzah follows:1- The introductory level or Level 1 of the Howzah which takes six years to complete. The first three years are usually spent for studying Arabic literature and other lessons, and the next three years are spent for studying general ...
Is it recorded in history that Prophet Abraham (AS) and his wife Sara were brother and sister to each other?

15243 Contextual study 2015/06/25

It has not stated in the main authentic Shia sources that Abraham (AS) and Sara were brother and sister to each other. Indeed, it has been reported in some Sunni sources and then in some Shia books that when Nimrud threw Abraham into the fire due to ...
Is masturbation a cardinal sin? What are the ways to avoid it?

24911 Laws and Jurisprudence 2009/12/20

Self-satisfaction which is called masturbation is a cardinal sin and haram [i] and there is a heavy punishment for that. The best way to avoid masturbation is to get married (permanently or temporarily) under special conditions stipulated in religious articles. If ...

How is Prophet Adam’s (A.S.) creation (about 5,764 years ago) make sense when fossils found from human beings are almost 25 million years old?

152356 Exegesis 2012/01/15

There is no inconsistence between these two. If we have heard that Prophet Adam has been created six to seven thousand years ago, this might refer to a different and new generation of human beings which started with Prophet Adam (A.S.) and might ...
Is lobster, clam, oyster and octopus halal?

110170 Laws and Jurisprudence 2012/02/18

Eating lobster, clam, oyster and octopus is haram. According to religious resources regarding halal and haram meat, there are general rulings and numerous standards; for instance, a set of rulings has been given for land animals, sea creatures, birds and so on.The condition for halal meat sea ...
Why are shrimps halal and crabs haram? What makes one of them halal and the other halal despite the fact that both of them are from the same category?

107993 Philosophy of Religion and Law 2012/03/18

Although all Islamic laws are a result of the benefits or disadvantages and harms that back them, and there is a particular reason behind each and every one of them, discovering the exact reason in detail for every one of them is extremely difficult. The most we ...
What is meant by Sidratul-Muntaha that the Quran has mentioned?

107632 Exegesis 2010/04/07

This question doesn’t have a brief answer. Please click on the detailed answer. ...
Is there any problem in sweeping and cleaning one”s house at night?

106156 Hadith 2015/06/07

1. Having conducted a research into Hadith (scriptural) sources, we found out that the narrations about cleaning, dusting and sweeping a house are absolute and unrestricted in the sense that they include both day and night. There is nothing to indicate that dusting and cleaning are forbidden ...
Can a Sunni girl get married to a Shia man and why? Please list the reasons.

103091 Philosophy of Religion and Law 2009/04/20

The popular viewpoint amongst Shia scholars and jurisprudents is that a Shia man can get married to a Sunni woman, but there is a difference of opinion regarding the marriage of a Sunni man with a Shia woman; most scholars see it as impermissible.The reasons behind the first ...
What is the definition of "Muslim" according to the Quran?

90345 Exegesis 2010/04/06

According to the Quran a Muslim is one who has absolutely surrendered to Allah and his commands and believes in pure Tawhid (the oneness of God) that isn't tainted with any Shirk and this is why the Almighty has introduced Prophet Abraham as a true ...
Why hasn’t Imam Ali (a.s.) been mentioned in the Holy Quran?

88807 Exegesis 2008/05/11

One should be aware that although the imam’s names, )especially Imam Ali’s(, haven’t been mentioned in the Quran, nevertheless, their names, )especially Imam Ali’s(, can be found in the Prophet’s sayings. One very good example is the hadith of Ghadir which is considered the official announcement of the appointment of ...
Why do we the Shia pray at three times while the Quran tells us to pray at five times?

80700 Laws and Jurisprudence 2010/08/14

The reason the Shia perform their prayers in three times is the Quranic verses and traditions on the matter. Although the Quran has mentioned that prayer is wajib several times and hasn’t gone into the details, it has spoken of its times: “Maintain the prayer from the sun's ...
What is the way of preventing Ehtelam (having wet dream) during sleep?

66965 Laws and Jurisprudence 2015/01/05

According to Islamic teachings and experience of others, for decreasing concupiscence and preventing Jinabat, please refer to the following recommendations: 1. Avoid dreaming and try to make yourself busy with good things such as reading books (non-sexual ones), heavy exercise, etc. Moreover, remember that idleness can lead ...

Links

Developed by AfarineshWeb

Thematic Category

Random questions

Popular

Links