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Fatwa Answer

Question ID: 827 Category: Dealings and Transactions
Mortgage with Devon Bank UIF and Guidance

Assalamualaikum,


Does Devon Bank residential mortgage follow shariah guidelines? What about UIF (University Islamic Financial) or Guidance or La Riba? Do they follow shariah guidelines?
 
Please let me know if you have any other recommendations.
 
Jazakallah Khair,

 

الجواب وبالله التوفيق

The services provided by Devon bank’s Islamic loan department are in accordance with the Shar‘ai methods reviewed by the Shariah Board of America. We do not have any knowledge of the inner workings of the rest of the businesses you have mentioned in your question.

واللہ اعلم  بالصواب