Fatwa: # 44534
Category: Jurisprudence and Rulings...
Country:
Date: 25th June 2020

Title

Halal Home Financing Options in Canada - Are there any?

Question

Assalamualaikum,

Maulana I have researched your fatwa's regarding motgage for home loans but couldnt find any Halal financing options. Do you know of any institution that provides Halal Home Loans in Canada. or is there any other way out ?

 

Jazakallah.

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

The Darul Iftaa has not yet approved any Islamic Mortgage/Financing schemes within Canada. Furthermore, we are not aware of any Shariah Compliant scheme available to the public within Canada. In the meantime, if you intend to purchase a house, we advise that you obtain an interest free loan from family and friends and totally avoid a loan from conventional banks.

And Allah Ta’āla Knows Best

Hammad Ibn Ismail Jogiat

Student Darul Iftaa
Cambridge, Ontario, Canada

Checked and Approved by,
Mufti Ebrahim Desai.

 

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