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Buying Process discussions and advice. Participate in ongoing dicussions and get invaluable Buying Process advice from people who are experts in their industries or start a new Buying Process discussion.
Asif
( 3 posts )

[38 Replies]
Do you dream of providing your loved ones a home of their own but don't have the funds? Don't stop dreaming, let me make your dream a reality with Muskun home financing where you can avail financing for any of the following facilities:

Home purchased
Home renovations
Home construction

Features:

1.100% riba free (interest free) as declared by banks shariah adviser.

2.Quick processing financing up to 50% to 70% of the value of the property.

3.Financing limit from 0.5 million to Rs. 50 million tenor up to 25 years.

4.No pre-payment additional price charged after one year & completion.

5.Flexible & affordable installments

6.Clubbing of family income

Residential of Rawalpindi/Islamabad feel free to contact me any time on my mobile number. 0344-5388781

Regards
Asif

    2146 days ago In Buying Process
    Post Answer
    M.Ilyas
    (232 posts)
    Best Reply
    Mr. DSA you should study islamic modes of financing.
      2145 days ago 

      SyedAmjad
      (642 posts)
      Whats the current annual mark up rate that you charge on your loans? Thanks.
        2146 days ago 

        Dolphins
        (229 posts)
        Very good effort, but can I pls ask what is the name of company who is offering this loan?

        What is the markup and how you compare it with Meezan bank's riba free loan for home construction.



        Cheers
          2146 days ago 

          SyedAmjad
          (642 posts)
          @Dr Musi. From the name of the product, sounds like Bank Al Islami.
            2146 days ago 

            Ahmed Tanoli
            (554 posts)
            If there is mark up then how it can be riba free ?
              2146 days ago 

              SyedAmjad
              (642 posts)
              @Ahmed Tanoli. Good question! How indeed? :D
                2146 days ago 

                RASHID
                (442 posts)
                Its not riba free just name riba free you can imagine no one is good in this world who will give you money without earning anything from it so they come up with different ideas of folling people by saying riba free.
                  2146 days ago 

                  Prop Guide
                  (6961 posts)
                  Rashid, they give you money based on the rental value or some thing like this, for the system they have got permission/ approval some islamic scholars (Muftis). So, Allah knows, how it works. Regards
                    2145 days ago 

                    HT
                    (1115 posts)
                    How about they tell us which mufti told them its ribba free...or i may sound blunt but is the mufti on there payroll aswell.

                    According to some muftis it has been told that ribba free loans should only cover the inflation rate which was like 10% P.A 2012 so the lender is not in loss.

                    With these banks they will exploit any thing to make money.
                      2145 days ago 

                      SyedAmjad
                      (642 posts)
                      @H-T. Your points are valid. The Fatwa is that its allowed to reference the "rental" rate to the benchmark "interest rate" although it is makrooh. I am not sure how good a fatwa that is, so I will not go into that. I will just stick to my original question:



                      What is your per annum rental/ interest rate? Thanks.
                        2145 days ago 

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