basaccount.blogg.se - Halal transaction of u.s.a

They also have a YouTube channel full of information, too.

Guidance Residential: This company offers many resources, including tips on how to obtain a home under Islamic financing.

IslamicFinanceGuru (IFG): This British-based hub helps Muslims with their investment, personal finance and entrepreneurial journeys in easy-to-read articles and blog posts.

The Islamic Food and Nutrition Council of America: This is helpful for finding halal food, beverage and pharmaceutical products and companies in the U.S., including items like a shoppers guide.

The ACLU: This organization works to fight anti-Muslim discrimination on a number of fronts and can provide general information that is highly useful.

Here are just a few places that provide deeper insight: There is a growing amount of information available for Muslims looking to find information on financial products and institutions that comply with Islamic principles. Home or renters insurance, in general, is considered haram, or a sin, as it involves gambling, but there are some instances where it is permitted. Murabaha mortgages are when the bank buys the property on your behalf and sells it to you at a higher price, which you then repay in equal installments over a fixed term.When the term is over, full ownership of the property will be transferred to you. Ijarah, or “rent-only” Islamic mortgages, occur when the bank purchases the property you want to buy and leases it to you for a fixed term at an agreed monthly cost.

Each time you make a repayment, you buy more of the bank’s share until eventually you own the bank’s share of the property. Diminishing musharaka is essentially a co-ownership agreement in which both you and a bank own a separate share of a property.There are different types of Islamic mortgage products: However, an Islamic mortgage allows you to buy a house in a Sharia-compliant manner over a number of years without using any interest. Renting an apartment or paying cash for a house are two ways Muslims can avoid paying interest (riba) when looking for a home.