Question ID: 19872
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1. What are the conditions of the Murabaha type of financing?
2. Can it be applied to a non-Islamic bank (i.e., the normal banks but following the principals of this type of financing (Murabaha) for purposes of constructing a residential building like apartments or a house?)?
3. If my local bank is agreeable on the terms of this type of financing, would it be permissible?

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Asked on May 2, 2016 6:25 pm
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Private answer

Kindly email contract.

In most cases it is not Islamic – Shaari compliant.

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Answered on May 24, 2016 3:19 pm