More Interesting News From The World Of Ijara loans
When it comes to a growth industry like islamic home financing, it’s understandable the landscape is always changing and there’s always some interesting news to report. Islamic finance is growing in leaps and bounds across the Middle East and this Sharia compliant way of borrowing money is making its presence known here in North America as well.
The first bit of overseas news in the January newsletter comes to us from the UAE, where the banking industry lobby group has called for a 76% lending limit on first time expat purchases. The movement started with the Emirates Banks Association (EBA) since that group wanted to keep an eye on property speculation.
Fairness and the Sharia way
The same sense of fairness and Sharia compliance is one of the cornerstones for us here at ijaraloans.com. Remember that when you do business with us, you’re not getting a broker or loan originator. We’re in the business of offering our clients in North America a viable way of getting involved with western style real estate markets in a Sharia complaint manner. We’re the first company to offer commercial real estate deals that are Riba free and the first to operate in Canada.
Now back to other news. If you think that islamic mortgage financing is just the stuff of the Middle East and other more traditional Islamic countries worldwide, this next little story will open your horizons. The Islamic Bank of Britain has launched a rent only alternate to other Sharia compliant products they already have on the market. The new product is open to landlords of any faith and it offers a variable rental rate.
Islamic Stability
Finally, here’s some proof that Islamic mortgages and the banks that carry them are getting the notice they deserve. Fitch has affirmed the Dubai Islamic bank’s stable rating and that’s quite a noteworthy feat in these times when other banking systems and even countries are losing their preferred status.
Remember, we’re here when you need Islamic mortgages and our IjaraTM Home Financing Program was put together by a respected board of Shariah Scholars. We understand your need to have products that are Sharia compliant and are free of Riba. Why not get in touch with us today?
