Question
Is it permissible to buy a property from Albaraka Bank in terms of its murabaha scheme?
Answer
Albaraka Bank's muraabaha, mushaaraka, etc. deals are farcical, and in conflict with the Shariah. Do not become entrapped in their deceptive use of Islamic terminology. This bank's schemes are haraam.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 23 No 07
- PDF page
- 4
Appears under Questions and Answers (approximate).