HADITH OF THE DAY
MORTGAGE
Narrated by Aisha
The Prophet (Peace & Blessings of Allah upon Him) purchased food grains from a Jew on credit & mortgaged his iron armour to him.
Note: Mortgaging is not Haram in Islam. The problem with mortgaging comes from the fact that such loans often involve interest. Interest free mortgaging is permissible.
[ Vol – 3 Hadith – 282 Sahih Al-Bukhari ]
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