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What is the shari'i ruling on mortgage, because people living in the West are taking mortgage (loan on interest for property)?
If one has no other option than to take a loan on interest, then ulema have suggested a shari’i cover for it: When taking loan, the borrower should keep the intention in heart that the shari’i obligation on him is to repay the actual loan amount only. After repaying the actual loan amount, he is under no shari’i obligation. Now to pay the extra amount, he should keep the intention in heart that he is willfully gifting his money to the bank.