Comments on: Sharia-Compliant Financing in Canada http://www.yourworldtoday.ca/2007/05/08/sharia-compliant-financing-in-canada/ Fri, 03 Feb 2012 14:31:55 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Loga http://www.yourworldtoday.ca/2007/05/08/sharia-compliant-financing-in-canada/#comment-4 Loga Wed, 10 Jun 2009 20:05:56 +0000 http://issmatblog.wordpress.com/2007/05/08/sharia-compliant-financing-in-canada/#comment-4 An interesting post on fatwa and peoples use of them on riba and mortgages: http://loga-abdullah.blogspot.com/2009/06/halaal-riba-mortgage.html like to hear your opinions An interesting post on fatwa and peoples use of them on riba and mortgages:

http://loga-abdullah.blogspot.com/2009/06/halaal-riba-mortgage.html

like to hear your opinions

]]> By: Najwan http://www.yourworldtoday.ca/2007/05/08/sharia-compliant-financing-in-canada/#comment-3 Najwan Wed, 16 May 2007 22:08:41 +0000 http://issmatblog.wordpress.com/2007/05/08/sharia-compliant-financing-in-canada/#comment-3 I might be wrong here, but isn't there a concept in Islam called "al-murabaha," which is in essence the concept of interest or making profit (rebh) out of your capital? Al-Murabah Sale is the extra price agreed upon on top of the overall price. May be I am missing something, but the concept is pretty much similar to interest. I'll need to look into this though. I might be wrong here, but isn’t there a concept in Islam called “al-murabaha,” which is in essence the concept of interest or making profit (rebh) out of your capital? Al-Murabah Sale is the extra price agreed upon on top of the overall price.

May be I am missing something, but the concept is pretty much similar to interest. I’ll need to look into this though.

]]> By: Rafat http://www.yourworldtoday.ca/2007/05/08/sharia-compliant-financing-in-canada/#comment-2 Rafat Thu, 10 May 2007 20:32:38 +0000 http://issmatblog.wordpress.com/2007/05/08/sharia-compliant-financing-in-canada/#comment-2 I just want to mention that it was pointed out to me by one of the scholars that a major difference between the Islamic financing and the traditional bank mortgage/loan system is that in Islamic financing the lender is not allowed to take interest for late payments. The lender is only entitled to his capital and the profit agreed upon at the beginning of the transaction. If the borrower is late in paying, the lender cannot charge him interest on the late payments. I just want to mention that it was pointed out to me by one of the scholars that a major difference between the Islamic financing and the traditional bank mortgage/loan system is that in Islamic financing the lender is not allowed to take interest for late payments. The lender is only entitled to his capital and the profit agreed upon at the beginning of the transaction. If the borrower is late in paying, the lender cannot charge him interest on the late payments.

]]>