Get loan As Per Islamic Law
Shariah Compliant Home Financing Dubai
Shariah Compliant Home Financing in Dubai, an amenity that allows the service enablers to give no interest in return. Money Maestro is providing you such service so that you don’t have the guilt deep within about any kind of interest. Shariah-compliant won’t invest a dime of yours in any way which Shariah thinks is harmful.
Are you looking for such assistance?
We, at Money Maestro, believe that the first step in getting the mortgage for your house is being free of the fact that there will be no interest loans that not only affect your budget but is also against Shariah. We always strive to provide our clients with the most credible and transparent information available. Our expert mortgage analysts in Dubai not only focus on analyzing the properties but they also keen on analyzing what you want and what your needs are. Only then do our analysts propose to you the best investment deal that would best fit resident mortgages as well as non-resident mortgages.
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We can help with all of your home loans and commercial finance needs
REFINANCE
This is a time of fluctuation; you may never know what happens next! Money Maestro can guide you through the way to help you switch your current mortgage to a better financing rate.
EQUITY
Want to maintain a better cash flow in your business? Let Money Maestro help you get your equity balanced on your fully paid-up property.
How Does a Sharia Mortgage Be any different from a Mortgage?
Sharia Mortgages are technically not mortgaging because mortgages are the loans being provided by the bank when buying any property, either commercial or residential. The bank sanctions the loan with an additional clause of paying the interest rate over this loan.
What separates a mortgage from a sharia mortgage is that along with not charging any additional percentage by the bank.
It must also be careful regarding the cash flow because the banks that offer Islamic mortgages must not be involved with financing companies involved with alcohol, gambling, or haram Meat dealing companies.
When the bank is away from all such doomed activities, as per the sharia law, such a bank is allowed to use cash for buying properties under the sharia mortgage.
Frquently Asked Questions
Shariah-compliant funds are investment vehicles that follow the concepts of Shariah and the Muslim religion’s fundamental principles. Shariah-compliant funds are seen as a kind of socially responsible investing.
The screening procedure is intended to discover aspects that contravene Shariah law’s principles and guidelines, which are based on the Quran and Prophet Muhammad’s teachings. Usury (riba or interest), gambling (maysir), and uncertainty (gharar). are all prohibited under Shariah law.
No, overdrafts are not permitted in Islamic banking. Islamic banks may be able to provide Sharia compliant options for such a facility.
Since we know Shariah law is a religious code that is deeply rooted in Islamic culture. As a result, when someone uses a Shariah Compliant credit card, they will not be charged interest on their balance. Under Shariah law, overcharging is strictly forbidden. As a result, no compound charges exist.
The ban of gharar and riba is the major difference between Sharia credit cards and normal credit cards. Gharar is exorbitant, but riba is a source of interest. A screening system would be included in an Islamic credit card to verify that it is only used for halal transactions.