Why Ijarah Wa Iqtina and a Good Website Work Together for Business Success.
Ijarah Wa Iqtina Definiton: The definition for this particular Islamic financial product might be a little more familiar for people who understand the mechanics behind ijara loans. In fact, this is the name for a lease and purchase type of Islamic transaction. It’s important because it allows everyone involved in the transaction to avoid riba or usury. The entire process circumvents interest on money lent by hiring someone who leases the physical purchase back to clients for a rental fee.
Usually, the client purchases the last outstanding amount at the end of the lease.
Putting together any kind of successful business means staying sharia compliant and aware of ijarah wa iqtina. Making sure that any financial dealings you have stay within the boundaries of Islam is important, but that’s not the whole story.
It’s easier than you might have imagined to use Western technology and methods to have business success while staying away from riba. Having a good website is an important part of the modern business. In many real ways these are like today’s business cards. Here’s a few tips on how ijarah wa iqtina and these websites can work together.
Your Customers Use The Internet
In today’s world, most people use the Internet to research what they want to buy and where to get it. It doesn’t matter whether you sell things directly from cyberspace or use a website to promote a brick-and-mortar store.
It’s important to remember that even if you’re not selling things online, the chances are your customers use the Internet to make important decisions about what they are shopping for. They will also use the Internet to find out about things that are important to Muslims like ijarah wa iqtina and other Sharia compliant features.
It’s necessary to keep in mind that a website is an important marketing feature even if your client roster is currently full. There’s always the possibility that you might lose an important client and having a website helps you to fill that hole quickly.
Ijarah wa iqtina Helps You to Use Marketing Wisely
There are other big advantages to having a website. One of the other ones that stands in the forefront is the fact that marketing online is cost-effective. It’s easier to stay within the bounds of sharia compliance when you can control how you market your website. By hiring online marketers who understand your religious affiliations, you can custom-make marketing plans that work.
Finally, it’s important to remember that a website can be the jumping off point for all of your other branding efforts. It’s one of the best places to describe who you are and what you do. You can get more people in a shorter time using the website than with any other type of marketing method. While you certainly shouldn’t ignore ijarah wa iqtina and other ijara financing methods when you start a business, having a carefully planned website certainly helps.
We are available to answer any of your ijara financing questions. Please get in touch.