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Fatawaa


Subject : Ruling on the Murabaha Contract of the Social Security Foundation Employees' Housing Fund

Fatwa Number : 3767

Date : 11-05-2023

Classified :

Fatwa Type : Search Fatawaa


Question :

What is the ruling of Sharia on the Social Security Foundation Employees' Housing Fund (See attached copy)?


The Answer :

All perfect praise be to Allah. Blessings and peace be upon Prophet Mohammad.

 

After reviewing the procedures the Housing Fund uses to finance employees through the Murabah contract for the purchase orderer of the Social Security Foundation-a copy of which is attached-it was found  that the contract is free of any violations of Sharia and has no mistakes that could render the it invalid. Therefore, there is no sin in dealing with this Foundation through this contract.

However, the correct application of the financing procedures and the terms of the contract are the responsibility of the administration of the Social Security Foundation.

Moreover, it is worth pointing out that this Fatwa pertains to the attached contract and it is the responsibility of the questioner to read the contract carefully to make sure that the contract he signs matches the contract for which this Fatwa was issued in the first place. And Allah the Almighty knows best.

 






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