Posted by: islamicfinancingnews | June 17, 2013

Looking Online For Proper Islamic Loans

islam-31 Whether you’re planning on buying your first home or your next home, or investing in the commercial real estate market, obtaining proper Islamic loans free from Riba is important. Practicing Muslims want to make sure to conduct themselves in accordance with all aspects of Sharia law and that includes finding a company that understands how to successfully combine Islamic finance with Western banking practices.

Worldwide, Islamic finance has grown significantly over the past several years. In the mid l990’s, Islamic financial assets were estimated at approximately $150 billion globally. Growing about ten percent per annum since that time, these global financial assets have reached about $800 billion. Innovative products and services have bolstered growth in the sector which experts predict could reach the $4 trillion mark over the next ten years backed by the increased purchasing power of growing Islamic populations.

When you’re looking online for an Islamic finance company that offers the best products and services, look for one that sets out a Glossary of Islamic finance terms so you know you’re dealing with professionals who understand the Sharia compliant aspects of the various financial products they offer. Look for Testimonials posted from previous customers on the website as well, to make sure the company is in good standing in the Islamic community.

When choosing an Islamic finance company to work with, ensuring the documentation is free from any form of usury should play an important part in your decision process.

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