Shariah 101-Halal Finance, the English Way

On August 22, 2008 · In Britain, Islamic Banking, SUKUK

Halal Personal Finance

See our “ABOUT” section to review what Shariah Finance is, and understand what this article states, and how the loans are restructured, as to appear to be interest free. No bank, nowhere, would lend any money without making a return on their loan. This is just a way to promote Shariah and create an Islamic life in western culture. comments by Allyson Rowen Taylor

Our halal Personal Finance facility is an unsecured cash generating facility that allows you to generate cash for the purpose of purchasing goods or services, whilst remaining true to your faith.

Halal Personal Finance

Our halal Personal Finance facility is an unsecured cash generating facility that allows you to generate cash for the purpose of purchasing goods or services, whilst remaining true to your faith. You may apply for a halal Personal Finance facility for a minimum of £5,000 up to a maximum of £25,000 and have a choice of repayment periods.

There are two rates available for Unsecured Personal Finance – one for home owners, 10.9% APR Typical and one for non-home owners 12.9% APR Typical.

We are the first fully Sharia’a compliant bank to offer this facility. Finance is not secured, it is still unsecured, however we are able to offer preferential rates to home owners.

Like all our accounts, this halal Facility has been approved by our Sharia’a Supervisory Committee. The halal Personal Finance facility is based on the Islamic principle of Murabaha. We buy and sell commodities and generate profit from these transactions. We do not charge interest, nor do you pay interest to us.

How do we generate cash for the Personal Finance Facility?