Using Islamic Finance for Your Business? Here’s How to Make It More Sustainable TooNovember 14, 2019 at 9:48 am
Once you’ve got the keys to your new business venture through Islamic finance, some of the real work starts. Getting your business up and running is one thing. Keeping it going is another. There is more to sustainability than just having a good product or services. It’s one thing to have money in the bank and a good target market, but you need to think of the environment too.
Islamic finance is the socially just option. You can avoid usury with it and stay sharia compliant. Here’s a few tips on making your business environmentally friendly too.
Most of the places where you start your venture won’t be a brand-new building. Likewise, most entrepreneurs don’t have the money to retrofit an older building. For most business owners, the first step is putting a plan together to cut down on energy consumption.
Islamic Finance and Insulation. Both Good Moves!
Starting with the fundamentals is a good idea. That goes for checking the insulation in your building and Islamic finance both. The insulation should lower your heating and cooling costs.
Checking insulation means you can read the R-value or measure the depth in the attic. If you’re going to check the insultation by measuring the depth, here’s how to do that. It should be 16 inches so you and your employees stay nice and warm.
We like to supply you with information about getting the right Islamic finance produce here too. In fact, there’s a How It Works section on our website that explains everything.
For example, any property that you’re interested in can be leased for up to 30 years. The monthly payments that you make will be paid to our trust. Everything is carefully designed so there’s no riba involved.
Buy Equipment That’s Certified
Here’s another big tip for keeping your business environmentally friendly. It’s a good idea to check the market for energy efficient equipment and systems that are also high performance. Make sure look for anything that’s energy star certified. HVAC equipment with this certification is up to 30% more efficient.
Not everything you do to go green has to be a big retrofit. For example, using LED lighting can slash your energy bill by 75%. Motion sensors are another good idea. These can be installed in washrooms and conference rooms to automatically shut off when no one is using them.
Islamic Finance Structuring Company
Ijara Community Development Corporation (IjaraCDC) is not a broker or lender. We can help you with Islamic financing because we are a sharia structuring company. We can help you if you’re looking to buy a home using Islamic finance. Our expertise lies in providing alternative choices through the licensed providers we have associations with.
We have the experience with sharia compliance that you are looking for. Our company works in 50 states and across Canada. Why not let us help you get that residential or commercial property that you’re interested in?