Salam Ayman,
I live in US, and I recommend you check with "Guidance Finncing". http://qa.sunnipath.com/issue_view.asp?HD=1&ID=2141&CATE=47 The concept is, they will go as partners with you into the house you buy, and each year, they appraise the house, and you pay them rent for the share they own. The more payments you make, the lesser their share gets till you eventually buy them out. The contract you would have with such Islamic investment institutions is to my knowledge is correct according to Islam, but the practical problem is that you end up paying more that you would pay for a mortgage. Also, if you want to dig deep into it, these institutions are obtaining funds from the government where they pay interest on the funds. In other words, they go into Riba to provide you a loan that doesn't have Riba! Some people say, once your contract with them is free of interest, then it is their problem, not yours. Others debate and consider it not acceptable. I wish you the best, and Jarakallahu khairan for asking and seeking halal options. Please let me know if there is another solution. I am very interested in the answer as well. Ahmad > Date: Tue, 12 May 2009 06:56:34 -0700 > Subject: {Kantakji Group}. Add '4353' The use of the investment banks method > for the financing of the acquisition of a home. > From: [email protected] > To: [email protected] > > > Salam, > > I have a question that causes a lot of discussions and points of view, > it's related to the use of the investment banks method for the > financing of the acquisition of a home. > > The problem is that in our country: > 1- There is no Islamic banks for such financement. The islamic banks > that exist are for companies not for individuals. > 2- The prices of the houses are expensive and are increasing in an > annoying way every year. > 3- The renting of a house became so expensive and would never gives > you an opportunity to save money for buying a house in the futur. > 4- The islamic authorities in the country are allowing the use of such > method until they obey to 2 points: > a)- You don't have another private property that you could buy in > order to get the house. > b)- That the house that you would buy would be in the limit of the > needs (means not an appartment in a prestigious block of flats for > example) > > This situation is causing a frustration for us! Every one want to own > a home in order to have a certain stability for his family; but in the > same time we don't want to enter in something "knowen as haram"! And > in the main time we continu paying every months a big amounts of money > for the rent that could be used to to reimburse the Bank. > > What is your point of view? > > Salam > > > _________________________________________________________________ Hotmail® has a new way to see what's up with your friends. http://windowslive.com/Tutorial/Hotmail/WhatsNew?ocid=TXT_TAGLM_WL_HM_Tutorial_WhatsNew1_052009 --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kantakji Group" group. To post to this group, send email to [email protected] To unsubscribe from this group لفك الاشتراك من المجموعة أرسل للعنوان التالي رسالة فارغة, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kantakjigroup?hl=en سياسة النشر في المجموعة: - ترك ما عارض أهل السنة والجماعة. - الاكتفاء بأمور ذات علاقة بالاقتصاد الإسلامي وعلومه ولو بالشيء البسيط. ويستثنى من هذا مايتعلق بالشأن العام على مستوى الأمة كحدث غزة مثلا. - عدم ذكر ما يتعلق بشخص طبيعي أو اعتباري بعينه. باستثناء الأمر العام الذي يهم عامة المسلمين. - تمرير بعض الأشياء الخفيفة المسلية ضمن قواعد الأدب وخاصة منها التي تأتي من أعضاء لا يشاركون عادة، والقصد من ذلك تشجيعهم على التفاعل الإيجابي. - ترك المديح الشخصي. -~----------~----~----~----~------~----~------~--~---
