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Now I am living in a rented house,I pay monthly rent to the owner.From next month onwards I and owner agreed that I pay him a sum of money (INR 10 lakh Rupees)&I can live in that house without monthly rent for 36 months.When our contract ends he will return me the money (full amount). So at the end there is no loss of single penny from my pocket.there is no interest involved.Is such a deal halal ?

Now I am living in a rented house,I pay monthly rent to the owner.From next month onwards I and owner agreed that I pay him a sum of money (INR 10 lakh Rupees)&I can live in that house without monthly rent for 36 months.When our contract ends he will return me the money (full amount). So at the end there is no loss of single penny from my pocket.there is no interest involved.Is such a deal halal ?

13 Oct

This is totally prohibited. There’s interest involved in you using his house for free in return to the loan you had given him. This is clear riba.

Riba | October 13, 2017 6:11 am

Thank you for your reply. So is the Ijara mortgage offered by HSBC or Al Rayan bank in the UK acceptable. I am not sure if they are implemented correctly.

Can we use interest received money from saving bank account to pay income taxes to government?

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