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Would I save money financing a home from Muslim banks? They don't believe in interest rates.
Basically
>The customer has a down payment
>The bank has the rest
>The bank and customer buy the property together
>The bank sells it's shares of ownership rights to the customer over time while retaining it's usage right until they no longer have any ownership.
>in houses, the rental value determines the monthly payment,
>unlike traditional banks, you can't buy anything you want. It has to be profitable for them so if the price of the house and the rental value isn't yielding them as much as a typical loan, they will deny it or ask you to negotiate for a lower price.
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ask them for an offer. then compare with a loan estimate from a traditional bank.
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>>1574023
Many get around the interest prohibition by instead charging service fees that are coincidentally similar to what a secular bank would charge in interest.
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>>1574023
Because inflation exists, banks must charge interest or they are getting shafted by your hypothetical deal. They would literally be losing money in your scenario.
Git gud.
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>>1574770
>not knowing how Sharia banking works
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>>1574770
Islamic law forbids usury, though.
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>>1574781
Well then Islamic law won't be in the loan business for very long without some subsidization from a positive cashflow business.
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Fast food chains have been shilling on /r9k/. I wouldn't be surprised if this meme originated from a paid poster. This is the future of internet culture, and the future of our memes. They're going to flood us out.
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>>1574787
Why do people see fit to comment on things they know nothing about? Stfu and GTFO of the board.
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