Cryptocurrency Q&A
How do Islamic mortgages make money?
How do Islamic mortgages make money?
CosmicWave
Sun Oct 06 2024
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5
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I don't understand this question. Could you please assist me in answering it?
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5 answers
DigitalTreasureHunter
Tue Oct 08 2024
Islamic halal mortgages offer a unique financial solution for property acquisition, adhering to the principles of Islamic finance.
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KDramaLegendary
Tue Oct 08 2024
Instead of traditional lending with interest, the bank purchases the property on behalf of the client. This arrangement ensures compliance with Sharia law, which prohibits the charging of interest.
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GeishaMelody
Tue Oct 08 2024
Clients have two options under this system: They can pay rent to the bank until they have accumulated enough funds to fully own the property, or the bank can sell the property back to them at a predetermined, higher price.
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SejongWisdomSeeker
Tue Oct 08 2024
Both options involve a structured repayment plan, allowing clients to gradually acquire ownership of the property without incurring any interest charges.
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Eleonora
Mon Oct 07 2024
BTCC, a leading cryptocurrency exchange, provides a range of services tailored to the digital asset market. These services encompass spot trading, futures trading, and wallet management, among others.
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