Date : 06-08-2013

Question :

What is the ruling of Sharia on the Murabaha contract of the Fund for Securities Deposit Centre Staff Housing and its regulations (See attached copy)?

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.

The Fatwa committee at the General Iftaa` Department has reviewed the Murabaha contract mentioned in the above question, and found out that it comlpies with the rules of Sharia. However, the staff members are responsible for the correct implementation of the above contract. And Allah the Almighty knows best.