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  • Permissibility Regarding Mortgage, Index Funds And Fixed Deposits

    Posted by Hashim on January 26, 2024 at 4:36 am

    1) Is mortgage loan permissible when buying a primary or a secondary home? I would like to invest some money but would like to take a bank loan (mortgage), is it allowed in islam?

    2) Is it permissible to invest in index funds like S&P 500?

    3) Is it permissible to get fixed interest from banks/ institutes through fixed deposits? or bonds?

    Thanks.

    Umer replied 4 months, 3 weeks ago 2 Members · 1 Reply
  • 1 Reply
  • Permissibility Regarding Mortgage, Index Funds And Fixed Deposits

    Umer updated 4 months, 3 weeks ago 2 Members · 1 Reply
  • Umer

    Moderator January 30, 2024 at 12:02 am

    1). There’s no problem in obtaining a mortgage to buy a house. For a short response by Ghamidi sahab, please watch the video in the following thread:

    Discussion 1131

    Ghamidi sahab went into a lot of detail on the issue of riba in his Response to 23 Questions series. Should you require details you can refer to:

    Discussion 30863

    2). Please see:

    Discussion 80330

    3). The primary source of income for a Bank is interest (sood/Riba), therefore, it is advised to not invest in Banking sector, whether in the form of a stock or in the form of a term deposit.

    Please refer to the following videos of Ghamidi Sahab:

    Discussion 32234

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