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Permissibility Regarding Mortgage, Index Funds And Fixed Deposits
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.
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1 Reply
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Permissibility Regarding Mortgage, Index Funds And Fixed Deposits
updated 3 months ago
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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:
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:
2). Please see:
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:
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