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Fatawaa


Subject : Ruling on Renting out Property to an Islamic Bank

Fatwa Number : 3721

Date : 21-07-2022

Classified : Leasing

Fatwa Type : Search Fatawaa


Question :

I own a property in a commercial area and received an offer to rent out all or part of it to be used as a new branch for an Islamic bank. What is the ruling of Sharia on renting out this property knowing that the bank will use it for practicing its usual commercial activities?



The Answer :

All perfect praise be to Allah the Lord of the Worlds. May Allah`s peace and blessings be upon our Prophet Mohammad and upon all his family and companions.

There is no sin in renting out a property to be used as headquarters for any Islamic bank since, as we know, Islamic banks abide by the rulings of Sharia as afar as their business transactions are concerned. Mostly, the application of this methodology is undertaken by a Sharia committee composed of specialized scholars, and this suffices to issue a fatwa stating that it is permissible to deal with this institution in general. And Allah the Almighty knows best.






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