Thursday | 18 April 2024 | 9 Shawaal 1445

Fatwa Answer

Question ID: 1762 Category: Dealings and Transactions
Devon Islamic Bank Murabaha Question

Assalamo Alikum,

I am looking to purchase a house through Devon Islamic financing. I wanted to ask if the Shariah board has recently reviewed the Murabaha contract and if it is in line with Shariah requirements? JZK,

 

بسم اللہ الرحمن الرحیم

:الجواب وباللہ التوفیق

The initial arrangement of financing by Devon Bank was based on Shariah principles. However, it’s business operations are currently under review for re-evaluation. 

والسلام