Q: 1. Before the start of Ramadhan, we agreed on the purchase of a house from Al-Rayan Bank. The property price has already been agreed and the solicitors are already involved with paperwork Insha’Allah to go through soon. I have money in my bank account but of course I am also liable to pay to the […]
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What is the Shari’ah position with regards to zakah on Ijarah home purchase plans?
Q: What is the Shari’ah position with regards to zakāh on Ijarah home purchase plans? الجواب حامدًا و مصليًا و منه الصدق و الصواب A: Under the Ijarah home purchase plan the client incurs a debt only to the extent of the outstanding monthly rental payments subsequent to his use of the property. This debt […]
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