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Lifetime ISA UK
Hi. I was considering buying a house in the UK with a mortgage next year. I came across this scheme from the UK government that if I invest in a lifetime ISA, they would give me a 25% bonus upto 1000£ a year. I’m quite interested in this, however, I’m unsure if this is halal as it says that whatever I invest, I will get interest on the investment itself. I understand that Ghamidi sahab’s view is that this is business/financing rather than interest in true essence. However, he also says that Muslims should try to stay away from wherever the term of ‘interest’ is used.
In short, I would be really grateful if someone can clarify whether investing into such an ISA for the purpose of buying a house is halal or not.
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1 Reply
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Lifetime ISA UK
updated 5 days, 17 hours ago
2 Members
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The term interest confuses. Not every interest is Riba. Riba is only in loan. Interest from investment is profit and therefore halal. If it is investment, it is halal.
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