Authors:
Islamic home fund is a means of investment property buy which is considered to be shariah agreeable because of the good Shariah Advisory Panel. During the Islam, the fresh new payment of great interest (riba) is taboo (haram), for this reason a conventional home loan would-be a violation away from Islamic thinking.
You will find some different ways away from Islamic house financing. But not, the most famous is actually shrinking musharakah (mutual control), coupled with a keen ijara book. Within this condition, the bank sales the property for the customer’s account and you can likewise grants a lease back into the consumer. Read more