Posted by: islamicfinancingnews | June 3, 2015

Some tips for using Islamic finance to pick the right contractors

When you first decided to buy that new home, you wanted to use Islamic finance professionals because you wanted to be sure you were getting experts to work on the finances involved. Only the best ijara loans would do, so you made sure to do some research and find the best suppliers possible. Once you’ve had the keys for a time and want to get involved with some renovations, the same kind of due diligence applied when looking for a contractor.

You needed to be aware there were good and bad companies when you started down the path for ijara finance and you need to be aware there’s a lot of contractors working in the underground economy that can do substandard work. In the province of Ontario in Canada alone, estimates place lost revenues at $15 billion. However , research also indicates that most people hire uncertified contractors in Canada and the United States because they don’t know the criteria for looking for a certified worker. This industry isn’t as clear as the one that governs Islamic finance about such things.

Many localities have a public register where you can check the qualifications of the contractor you’re thinking about hiring. Check out these other important tips on ijara financing.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s


%d bloggers like this: