Posted by: islamicfinancingnews | September 8, 2012

Avoiding Riba Is An Important Element Of Islamic Finance

Islamic finance needs to steer you away from Riba so that you can stay compliant with Sharia Law. There is no doubt that you need to be sure that any place you’re dealing with understands how important this is. However there are some other features that you’ll need to find in the right company that wants to supply you with Islamic mortgages.

  • Transparency. You need to find a place that supplies enough information so you can feel comfortable. Even so, there will be questions so make sure the place has adequate contact information. Just an email address won’t do. Look for a telephone number you can call to make the kind of personalized contact that builds trust.
  • Experience. Look for signs of it on the website. For example, there should be good content that explains everything you need to know about what the company will do for you and even customer testimonials from past satisfied clients.

Another feature is an About Us section where you’ll find the answers that you need. Islamic mortgages are special items and although they are similar to their western counterparts in many ways, there are significant differences so you need to be sure your mortgage is being handled properly.

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