Posted by: islamicfinancingnews | April 8, 2013

Avoid Riba and Stay Sharia Compliant with Islamic Finance

islam-31 Shopping for Islamic finance that’s free of Riba and Sharia complaint at the same time requires that you do some research. Knowing what to look for in a firm that supplies Islamic mortgages is the best starting point and using the following criteria as a springboard will help you on the journey toward Islamic financing that will suit you budget and religious needs.

That said, you should look for a company that:

  • is open and honest about what you’ll need to qualify. Is some ways, these Islamic finance firms are the same as their western counterparts. For example, it’s important to have the necessary information on hand to prove you don’t present a payback risk to lending institutions. That generally means being able to produce accurate records of employment and addresses of the places where you previously resided.
  • knows Islamic mortgages. Look for an Islamic finance firm that has a good library and FAQ section so you can determine they are experts in the field.

Of course, the Internet makes shopping for Islamic finance easier from your home computer. However, it’s important to make sure any company you are considering provides adequate contact information at your fingertips.

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