Buying a home is a major dream for almost every family. However, it is a decision that goes well beyond finances. You want your home to reflect your values and your lifestyle. The biggest advantage to owning a house over renting an apartment is that your house belongs to you. It's your home, and that's a pretty big achievement in itself.
This is why when a person is ready to buy a house, emotion can often get in the way of effective decision making. Not only can it hinder sound financial planning, but it can lead one into major sins. This CD Set is a guide to know what Islamic Finance really is, how one can understand the different terms used by various Islamic financial institutes, and how to make the best decision for your family in this life as well as the next.
Shiekh Ghassan had the honor to study under the late scholar of Yemen, Shiekh Muqbil bin Haadi al-Waadi'ee, and earned an Ijaazah in Hadith from him. He has a Masters degree in Business and is an advisor who is able to give guidance in the field of Finance. He is also the founder of the Islamic Institution of Islamic Studies of Columbia, South Carolina. At present he is the Imam of the Islamic Center of Mobile, Alabama.
hmm.. i dnt understand nowadays pple go for HALAL morgage.. so wats the difference between halal morgage and haram morgage? isnt it still a morgage at the end of the day? if Any1 can explain plz. JazakAllah.
The Prophet said, "Nobody who enters Paradise likes to go back to the world even if he got everything on the earth, except a Mujahid who wishes to return to the world so that he may be martyred ten times because of the dignity he receives (from Allah)."
Allahu Akbar! how is one supposeto buy a house then !!!!!
wat ive heard wen u take halal morgage its turns out quite expensive coz u pay MORE to them.
*very confusing*
The Prophet said, "Nobody who enters Paradise likes to go back to the world even if he got everything on the earth, except a Mujahid who wishes to return to the world so that he may be martyred ten times because of the dignity he receives (from Allah)."
Someone I know consulted an islamic bank about a halal mortage and was told that basically the bank would own the house and she would be paying 'rent' to live in it for such a such years until the mortage was repaid. However in total the repayments still worked out as more than the intitial mortage. I don't see a difference except that islamic banks invest money in buying raw metals, i.e. halal investments.
P.S. I will still read the document out of curiousity (later).
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