House loan question - Principal amount paid by me and interest part paid by company

Assalaam alaikum,
I am working in a private company and I have an offer from this company. If I buy a house/flat under loan facility, then the company is going to pay the interest part of the loan amount, while I am required to pay the principle amount of the loan amount. If I don't choose this offer, then it goes waste.
Is this permissible in Islam? I know interest is haraam in Islam, but I am unable to decide on the above mentioned part.
Can anybody throw some light on this issue with authentic hadiths?
Jazzak-Allah-e-Khair for the service which you people is giving.
Was’salaam
Fahim

mdfahiem said:

Assalaam alaikum,
I am working in a private company and I have an offer from this company. If I buy a house/flat under loan facility, then the company is going to pay the interest part of the loan amount, while I am required to pay the principle amount of the loan amount. If I don't choose this offer, then it goes waste.
Is this permissible in Islam? I know interest is haraam in Islam, but I am unable to decide on the above mentioned part.
Can anybody throw some light on this issue with authentic hadiths?
Jazzak-Allah-e-Khair for the service which you people is giving.
Was’salaam
Fahim

Click to expand...

I will start with what I know. To give or take both is prohibited. The sheer lack of solidarity, is one of the reasons Almighty's decreed it as prohibited. Its prohibited in all Abrahamic religions, but they bent the rules.

Now your situation could be sliced and diced the way one wants. But being associated indirectly, when you have in your power to avoid, is best. I would take that approach and avoid this. Its just me, I understand there are Islamic banking scholars, you might have to take their opinion.

The other way to look at this offer is:
The house is being offered on loan(principal +interest) has to be paid. Company has decided to shoulder one fraction of loan and rest is from your earning. The part company is paying is equal to the interest amount. The remaining you are paying, is equal to the principal.


Hopefully this will give you the other perspective to weigh and arrive at your own decision, be on safe side, if there is no definite ruling. May Almighty Allah give every muslims sufficient means of livelihood, and keep us all at a mile's distance from all unlawful, haraam means of livelihood.... Ameen