Contemporary Primary Sources :: Fatwās - Contemporary :: 2 Ṣafar 1435 / 4 December 2013
National Shari'a Board - Indonesian Council of Ulama Fatwa No. 89 of 2013 on Shari'a Refinancing
Dewan Syari'ah Nasional MUI, Posted by Daniel Peterson, 04 September 2015
This fatwa acknowledges society's queries on shari'a refinancing, as well as the fact that no preceding DSN-MUI fatwa has answered them. Shari'a refinancing is defined as the provision of a new financing facility for new customers or customers yet to repay pre-existing financing. It covers two situations:
- financing provided to prospective customers that own an asset outright; and
- financing provided to a prospective customer already in receipt of financing yet to be repaid.