Comments on: Islamic Banking Products

By: Nazley Miller

Nazley Miller — Tue, 15 Jul 2008 12:04:03 +0000

In Jan 2008 “sm” asked about home loans that comply with shariah. Has there been any institutions that offer this services in Victoria.

Thanks

By: Andrew

Andrew — Sun, 01 Jun 2008 01:43:40 +0000

ahmed,
Apologies, but I do not pretend to be a Shariah scholar. I would suggest you consult your Imam or a scholar you know to be expert in these areas.

By: ahmed

ahmed — Sat, 31 May 2008 08:36:23 +0000

Shall appreciate knowing as simple answers - yes or no. Thanks.

Q : Am I following complete and doubtless Islamic Shariah if I want to buy a house uder BBA / Ijara or whatever other terms banks use for home financing. I am referring to Malaysian or Bangladesh Islamic Shariah compliant banks.

Apologise for a very blunt question.

Thanks and Regards
Ahmed

By: Andrew

Andrew — Tue, 29 Jan 2008 01:29:07 +0000

sm,
As I am not a Shariah scholar I am not in a position to give an opinion on the products out there. What I can tell you, though, is that there are a number of institutions out there looking at establishing Halal lending arms in the near future.
One possible problem with MCCA is not that the products are not Halal, but that the scholars are not available to issue fatwas. There are not many scholars out there who truly understand finance (some estimate that there are only about 25 in the world) so while MCCA’s product may be Halal (again, I am not qualified to voice an opinion) there may be no way they can afford the fatwa.

By: sm

sm — Mon, 28 Jan 2008 14:06:15 +0000

Hi Andrew,
I was hoping for your opinion on Islamic home loan products avaliable on the market. For many in the Muslim community (here in Melbourne) MCCA has not been able to prove the ‘halal-ability’ of its current products. I have tried to look for authentic shariah compliant home loans but have not been successful. Speaking to many Muslims I can assure you that a very large chunk of the them are depressed and disillusioned with the prospect of trying to buy a home- no halal loans and very high prices. Is there any product out there?
SM

By: Andrew

Andrew — Tue, 23 Oct 2007 03:41:40 +0000

Sorry, Sunil - I know too little about the market there. Perhaps someone else on the blog may be able to help?

By: Sunil Vaghani

Sunil Vaghani — Mon, 22 Oct 2007 15:13:08 +0000

Hello. I am looking for Sukuk finance to buy property in India. Can you please suggest where I can get this kind of finance from. thank you.

By: Fahad Zafar

Fahad Zafar — Mon, 09 Jul 2007 11:45:39 +0000

Afternoon,
I’m doing research on Operational Risk in Islamic Banks.
Could you please suggest any relevant link or articles.
Thanks!

By: ozrisk

ozrisk — Fri, 26 Jan 2007 05:39:42 +0000

Sorry, inhaam - my only suggestion would be to look to the Gulf region and find some careers websites. Other than that, no real ideas.

By: inhaam

inhaam — Thu, 25 Jan 2007 12:53:12 +0000

Hi,

I am looking for some career oppertunities in takful, I am at the moment working in shri lanka and marketing/sales for 7 years. I have been in serveral international forums on takaful and a very good knowledge in takful. Please get back to me if there is anything available,

Inhaam