Questions tagged [sharia-financing]

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1answer
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How to save money if one needs it in 3-4 years?

I want to save $25000 for immigration. I earn $1000 a month. My plan is to reach $25000 in 3-4 years. I don't use interest yielding accounts. What would be the best way to save this money?
57
votes
9answers
21k views

What are the alternatives to compound interest for a Muslim?

I have read the importance of saving early and the power of compound interest many many times. However I am a Muslim and cannot participate in anything involving interest. I also learned that keeping ...
8
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4answers
3k views

Ways to invest my saved money in Germany in a halal way?

I will be graduating soon from university with a masters degree in computer science. I will get a good salary when I start working and I will save about 1000 euros each month. However I'm looking for ...
19
votes
2answers
8k views

How do Islamic Banking give loans for housing purposes?

Islamic banks do not give loans they invest in financial activities of their clients. Am I correct? If yes, then how can they provide loans for housings? Home loans have nothing to do with business. ...
4
votes
1answer
2k views

Islamic Banks and Personal Lending

As per my previous question on "The difference between Islamic Banks and Western Banks", it was answered that Islamic Banks do not charge interest but instead agree on a percentage of profits the ...
6
votes
3answers
8k views

The difference between Islamic Banks and Western Banks

I have been doing some reading on the differences between Islamic Banks and Western Banks lately and found that the main difference is that Islamic Banks do not charge interest when they lend out ...