Posted by: islamicfinancingnews | February 28, 2012

The Basement in Your New Home

Riba, Sharia Law and the basement in your new home.

Interpreting Riba under Sharia law is something that practicing Muslims need to look at, and having some background on the subject will make it easier when they are looking at the options open to them under the terms of any Islamic loan they are considering. A little history helps here. According to some scholars there are at least four places in the Qur’an where Allah mentions interest and although trade is an important and necessary part of Muslim life, any Islamic finance deal must be free of all forms of Riba or interest. Remember there are other considerations as well and you need to have a series of criteria at your disposal so you can inspect a prospective property. Many people like to start in the basement where they look for any cracks or other signs of damage in the walls that would indicate the house or foundation is settling. Of course you want the best home for the price that you’re willing to pay and it’s also a good idea to look for any signs of water damage in the basement. Stains on the wall are usually a good indication that something might be wrong and as a first step you can go outside and have a look to see if the grading at the side of the home slopes away from the foundation. Finding the right Islamic finance deal is important, but so is the structure of the property you’re looking at.


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