How Islamic Home Finance Works

http://www.ethicainstitute.com In 2009 Nick lost his job, his house, and all the money he had spent paying off his mortgage. The property bubble that triggered the global financial meltdown…

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1 Response

  1. kej006 says:

    On your question about whether Islamic banks are simply conventional
    banks….A conventional bank keeps the loan (or at least the responsibility
    of servicing it) on its books as an asset. This loan gives the bank equity
    (ownership) in the amount of liability owed by borrower. They do indeed own
    the asset until it’s paid off…. Asset = Liabilities + Owners Equity

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