Can we have an Islamic Mortgage company?
Yes it’s possible. According to principle of Shariah, Islamic economics, it is possible. Now, is every company which says that it is Islamic mortgage company halal? Maybe not. Maybe somebody will use this title but what they are doing in the background is not Islamic. So one has to look at the company itself, how reputable is it, do they have a Shariah board or is it just somebody saying, no we are. If they have a Shariah board, then look for who is on the Shariah board. Are they reputable Scholars who are looking over their transactions? If yes, then ok. That's enough.< Back to Questions