Question
The Islamic banks have a deal called 'diminishing mushaaraka'. Is it permissible to buy a property in terms of this agreement?
Answer
The 'diminishing musharaka' is a haraam riba deal deceptively dubbed 'musharaka'. It is not permissible to buy a property in terms of this stupid haraam concept.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 26 No 06
- PDF page
- 5
Appears under CORRECTION (approximate).