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30 / 06 / 2026
Buying an Apartment with Bank Financing
Is buying an apartment with bank mortgage financing haram or halal? Is there any suspicion of usury or not, with the apartment having a 3% interest rate over 30 years?
Answer
I say, and with God's guidance: Buying apartments from non-Islamic banks is usury and is not permissible by Islamic law, and God knows best.
