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Financial Institutions discussions and advice. Participate in ongoing dicussions and get invaluable Financial Institutions advice from people who are experts in their industries or start a new Financial Institutions discussion.
Tariq Rahim
( 2 posts )

[20 Replies]
Dear friends,

I am planning to get loan from Meezan Bank, I know the technical details, but just want to know if anyone has experience with this bank and specifically this loan, as their are some factors which will increase every year, like rent and profit ratio...

Also would appreciate if their is any alternate based on the same Riba free mechanism.

Thanks in advance.

    1710 days ago In Financial Institutions
    Post Answer
    Ali z
    (1 post)
    Do not go to Meezan, as they just charge you high with a feeling that you are in a shariah mode Investment.

    Go to anywhere else where they can treat you professionaly
      1704 days ago 

      Muhammad Kha..
      (3 posts)
      Tariq

      Ali is right Me an charge extra, you may check Islamic bank, they charge kibor +3% but you can negotiate, this bank is also sharia complying http://www.bankislami.com.pk/product_services/muskun/#?1
        1696 days ago 

        Zia Khan
        (3 posts)
        Bank Islami provides MUSKUN home financing facility, which is based on the principle of diminishing Musharakah and Ijarah.







        The diminishing Musharakah transaction is based on the Shirkat-ul-Milk principle where the bank will participate in the ownership of the property. You and the bank will mutually agree upon the terms and you will have to buy the units owned by the bank periodically until you have purchased all the units and have become the sole owner.







          1694 days ago 

          Raza
          (345 posts)
          Whichever bank you choose, keep one thing in mind that whatever the sales person or your relationship officer tells you is ONLY true if it is clearly stated in the loan agreement also. The relationship officers will keep changing at your bank over the years but your loan agreement will be fixed till final closure.
            1694 days ago 

            Muhammad Kha..
            (3 posts)
            Contact Aslam Parvaiz +92 333 3375282 he offered me kibor +2% after negosiation, he is Mezan Bank represantative
              1693 days ago 

              Zia Ullah Kh..
              (7 posts)
              Bank Islami is good alternative.
                1673 days ago 

                Zuhaa
                (2 posts)
                Well, talking of islamic banks, i think meezan is just fine cz i had a detailed discussion over this with some1 who'd a better insight on ths islamic banking thing... So far meezan is the only bank that is actually copmlying r struggling to comply with sharia.
                  1672 days ago 

                  Ibrahim Suhe..
                  (32 posts)
                  Tariq Sb I have personally experienced Meezan's home loan as well as their car loan. I actually had no problems. Halfway through the loan period, I decided to sell the house and the bank didn't give me any trouble. Documents were cleared in 2 weeks and they didn't ask for any mark-up, only the remaining principal amount.
                    1671 days ago 

                    Quota1
                    (2 posts)
                    In banking sector SHARIA and Riba free or interest free loans are only in words, you must pay the interest against any kind of loan rather secured or unsecured, no matter which bank you are taking from.
                      1671 days ago 

                      Muhammad Kha..
                      (3 posts)
                      Dear Tayab you have limited knowledge , according to your statement all personal are on rental property are paying the interest instead of rent , better to go & check with Darool Uloom Korangi or read the detail in fatwa about the rental & property share purchase
                        1671 days ago 

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