Ruling on mortgage

9-8-1999 | IslamWeb

Question:

What is the Islamic ruling about mortgage?
Answer:

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad sallallaahu `alayhi wa sallam ( may Allaah exalt his mention ) is His slave and Messenger.

Mortgage is confirmed by the Book of Allaah and the Sunnah of the Prophet sallallaahu `alayhi wa sallam ( may Allaah exalt his mention ) and by the consensus of the Muslim nation. Allaah Says (what means): {And if you are on journey and cannot find a scribe, then a security deposit [should be] taken. And if one of you entrusts another, then let him who is entrusted discharge his trust [faithfully] and let him fear Allaah, his Lord.} [Quran 2:283]

Moreover, ‘Aa’ishah may Allaah be pleased with her said: “The Prophet sallallaahu `alayhi wa sallam ( may Allaah exalt his mention ) died while his shield was mortgaged with a Jew for 30 Saa’ (A Saa’ equals approximately one and half kilogram) of wheat.” [Al-Bukhaari and Muslim]

Also, the scholars of the Muslim nation may Allaah have mercy upon them agreed in a consensus that Mortgage is permissible.

Finally, it should be noted that according to the opinion of the majority of the scholars may Allaah have mercy upon them the mortgage is only valid when the mortgagee takes hold of the mortgaged object, and this is the view of the Shaafi’i School of jurisprudence as well.

Allaah knows best.

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