House purchase plans for Muslims are struggling in US and Canada. The Muslims countries and recently the UK is doing better. Some people comment on this issue and point out this is making riba halal but that is a very narrow minded view.
For instance the loan that Islam house purchase plan offers based on diminishing partnership is allowed. Where you and the bank are partners. The institution that provides this service has to be run by competent scholars.
Shaykh Abu Eesa answers and explains....
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