Subject : Islamic Ruling on Financial Leasing Offered by Cities & Villages Development Bank

Fatwa Number : 3557

Date : 23-02-2020

Classified :

Fatwa Type : Search Fatawaa

Question :

What is the ruling of Sharia on financial leasing contract (movable property) offered by Cities & Villages Development Bank; see attached copy?

 

The Answer :

Praise be to Allah, The Lord of the Worlds.

Having examined the above contract, it was made clear that it doesn`t contain any violations of Sharia; however, both parties, in addition to the company`s board, are responsible for the correct application of the contract.

We advise clients to read this contract carefully before signing it to be aware of the liabilities. And Allah, The Almighty knows best. 

 

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