Personal Loan from Islamic Bank - Halal?
By Free Stuffs Qatar •
Assalamualaikum,
If anyone of you have done any research about the title please share your viewpoints.
How it is Shariah Complaint?
Jazakallahu Kair.
Tried to ask banks but did not get satisfactory replies as we have no access to meet their shariah advisory board members for clarifications.
They do provide cash after sale, I mean for personal loan they purchase shares and consider it as an object or product.
At the end of the day, you must go with what you feel comfortable . If you feel in your heart that Islamic banking is for you, then go for it
Islamic Bank not providing any Personal Loan, I mean giving you cash in your hand , unless u buying something , so they will buy for you and sell u with higher Price , and u have to pay with equivalent installments.
Whilst Islamic banking works on the principle of profit and loss sharing, a bank is a business answerable to its shareholders. How can it offer "interest free" loans ?
- al
so far i did not come to know abt any bank which offers interest free loan.
WT, If they are in the same building then it's not much difficult to locate them ............ ...........
My own perspective is that you cannot have Islamic Banking without there being an Islamic society and Shariah based financial economy in place.
They know why they are hiding.