Question

Assalamualaikum..
As per a fatwa issued by Darul uloom, it is understood that if the below conditions are met, then it will be lawful to purchase car through Bank (Indian Nationalised)

1.Bank buys the car from dealer
2.Bank declares the total value of the car(including interest) and a tenure is fixed and then we pay EMIs to Bank.

My question: If the car dealer and Bank agrees to the above conditions and make an agreement confirming it - will this suffice?

Darul uloom fatwa reference: Fatwa: 324/267/B=1433

Best,
Husnain Mahamood, Bangalore, India

Answer 1

Ref. No. 2641/45-4015

Answer:

In the name of Allah the most Gracious the most Merciful

 Yes, it will be sufficient and purchasing a car through bank as you mentioned above is permissible.

And Allah knows best

Darul Ifta

Darul Uloom Waqf Deoband