Questions tagged [sharia-financing]
8 questions
61
votes
9 answers
What are the alternatives to compound interest for a Muslim?
I have read the importance of saving early and the power of compound interest many many times. However I am a Muslim and cannot participate in anything involving interest. I also learned that keeping money in terms of just cash is the worst form…
user4884
20
votes
2 answers
How do Islamic Banking give loans for housing purposes?
Islamic banks do not give loans they invest in financial activities of their clients. Am I correct?
If yes, then how can they provide loans for housings? Home loans have nothing to do with business.
Then how do they manage this type of loans?
user5800
9
votes
4 answers
Ways to invest my saved money in Germany in a halal way?
I will be graduating soon from university with a masters degree in computer science. I will get a good salary when I start working and I will save about 1000 euros each month. However I'm looking for a way to invest my money, but in a halal way…
Jack Twain
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8
votes
2 answers
Islamic Banks and Personal Lending
As per my previous question on "The difference between Islamic Banks and Western Banks", it was answered that Islamic Banks do not charge interest but instead agree on a percentage of profits the borrower makes with the borrowed funds. Also if the…
Victor
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7
votes
3 answers
The difference between Islamic Banks and Western Banks
I have been doing some reading on the differences between Islamic Banks and Western Banks lately and found that the main difference is that Islamic Banks do not charge interest when they lend out money and do not issue interest when they take in…
Victor
- 20,987
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3
votes
2 answers
What is facilitiy fee in islam
Ethio telecom offer credit to his customer with rate of facility fee repayed at fixed date and also fee with daily charge. Is there a diffrence between the two term mean facility fee(service charge) and daily fee? Is that both are interest and…
Musa Suleyman
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3
votes
1 answer
In Islamic mortgage, is rent going towards paying for the house?
If I get an Islamic mortgage for 200k, the bank might charge 210k, with the 10k being the profit they would take instead of interest. The monthly repayments for this mortgage will be split in two - one portion of it goes as rent, and the other…
Samir Vora
- 31
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1
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1 answer
How to save money if one needs it in 3-4 years?
I want to save $25000 for immigration. I earn $1000 a month. My plan is to reach $25000 in 3-4 years. I don't use interest yielding accounts. What would be the best way to save this money?
user4884