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I am a business man in Spain and we need to buy some machinery for manufacturing purposes. As I don't take riba-based loans, it's very tough for us to work because no bank has riba-free plans here; we are looking for leasing options but I have my doubts on leasing in Spain here.

The way these leasing options work is they make a leasing contract where they are the owners, but after the leasing period is finished the machinery is released in my name; I don't have to pay anything extra and I can stay with the machinery. Is this halal?

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That sounds halal. Here in the US there are many 0% interest loans (mostly when buying cars). As long as there is no stated interest in the contract, the sale is safe from Riba.

  • 0% loans? That's nice, I plan to come there next year, Insha'Allah, that'd be nice. – user13940 Nov 22 '15 at 3:01
  • It is not this easy to pass a ruling over such a complicated matter, @American Muslim. And Raheel, these matters cant be put forward for a ruling like this. You have to mention all the contract rules and conditions and only then a ruling can be passed over it. Please note, just because someone says something you want to hear, doesn't make it halal. Please post rest of the details and I will get the ruling from our Mufti sb regarding it. He's a well-versed Mufti and has a PhD. in Finance, so I think he will be able to help you in this regard. If you want, you can contact him through whatsapp. – user14305 Jan 21 '16 at 11:23

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