Aslamoalaikum I am Rana Waqas Mustafa working in MCB Bank Limited. I want to purchase a car on installment from my bank. I am entitled Rs 450,000/- @ 6% interest. Bank will provide loan as my demand. then DD will be on the name of seller. When i will purchase car, car will be on the name of waqas c/o Bank. Is that right or wrong.

Alhamdu Lillah

Unless there will be two different sales, the transaction is not allowed.

In other words, conventional banks are not legally allowed to trade commodities by buying and selling them, rather their main job is to give interest-based loans.

Based on the above, if your bank is willing to buy the car and hold its title as an owner- and not as a lean holder - and then in a different transaction is willing to sell the car to you with higher price, the transaction is allowed. Otherwise, it is prohibited.

On a side note, and as a practicing Muslim, you should look seriously for a different job as working for conventional banks is prohibited, unless they have Islamic banking and you exclusively work for it.

May Allah purify your soul and your earning.