Islamic Finance

Question: I live in Saudi Arabia and my concern is,if i can buy car on lease or on installments from company it self or by third party. Please clear the concept of installements and if it is permisible in Islam. Answer: In the Name of Allah, the Most Gracious, the …

Question: Due to my income, I can’t get an approval from one of the Sharia financing companies here in USA, like Guadance, LaRiba or Ijara, but I can get an approval from other banks. The question I have is, what if I go with another bank with 30 yrs financing …

Question: I have give money to builder for investing purpose he will invest this money in his projects when he sell flats he will return an amount as per loss/profit is this permissible according to shariah ? Answer: In the Name of Allah, the Most Gracious, the Most Merciful. As-salāmu …

Question: I bought sofa set in installment and once again it was written in the receipt that the sofas will remain the property of the shop until paid in full. I said you can’t do that. They said we have to write this otherwise we won’t be able to claim …

Question: Recently I got answer related to binary option trading which is impermissible. It was clear. If that amount of money received earlier or now due to previous trading, since at that time i am ignorant of its permissinlity, may i deposit it to someone desperately in need to pay …

The Islamic Financial system has witnessed considerable developments in the past four decades and is now regarded as one of the fastest growing segment of the global financial system. Islamic finance assets grew at double-digit rates during the past decade, from about US$200 billion in 2003 to an estimated US$1.8 …