Question Summary:
Ijara CDC Islamic Finance

Question Detail:

My question is regarding the permissibility of financing a home through Ijara CDC which is one of the biggest Islamic Finance lenders in USA and Canada and the only one in Canada. Their website is https://www.ijaracdc.com. I have a sample contract from Ijara that I can share. Please provide your opnion on the halal authenticity of this Islamic Finance arrangement.

Answer :

In the Name of Allaah, the Most Gracious, the Most Merciful.

As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.

Brother in Islaam,

We have perused through the website and have not found the information and details provided sufficient to issue a ruling. Kindly forward us their contract and related details at admin@daruliftaa.net for our observation and advice.

And Allaah Ta’aala Knows Best.

Muajul I. Chowdhury

Student, Darul Iftaa

Astoria, New York, USA

Checked and Approved by,

Mufti Ebrahim Desai.