100% Shariah Compliant Islamic Home Finance
100% Shariah Compliant Islamic Home Finance
Manzil Islamic Finance Pty Ltd ABN 67 652 637 397
903/50 Clarence Street, Sydney, NSW 2000
Manzil Islamic Finance trades under Australian Credit License 522237
Copyright 2021 Manzil Islamic Finance | Privacy Policy | Terms of Service
Manzil Islamic Finance Pty Ltd ABN 67 652 637 397
903/50 Clarence Street, Sydney, NSW 2000
Manzil Islamic Finance trades under Australian Credit License 522237
Copyright 2021 Manzil Islamic Finance | Privacy Policy | Terms of Service
Frequently Asked Questions
Frequently Asked Questions
- What is Islamic finance?
- How does it woek?
- Can I refinance with Islamic loan?
- How much deposit do I need?
- What is Islamic finance?
- How does it woek?
- Can I refinance with Islamic loan?
- How much deposit do I need?
What is Islamic Finance?
Islamic finance is a financial system that has the concepts of riba (interest) and gharar (gambling) forbidden in Quran. Islamic law or Shariah prohibits interest-based transactions, or more precisely, "Riba-based finance". In riba-based finance, the borrower is charged interest, a fixed return or profit, for the use of money that was loaned to him.
Islamic banks are different from other common banks which usually deal with interest. However, they work a little more differently, by using profit-sharing agreements to generate income.
How does it work?
In the lease agreement, the financier buys a property from the landlord on behalf of a client. The financier also rents out the property to the client in return for agreed rental payments with the view of taking legal ownership of the property once they have reached certain rental terms in place – at which point, it is legally considered as their property.
Can I refinance with Islamic loan?
Yes, dfinitely you can. Mat be you have already financed your home with the conventional system. Definitely we'll help you to refinance your home according to Shariah law.
How much deposit do I need?
You need to have at least 10% deposit if the value of your chosen property.
What is Islamic Finance?
Islamic finance is a financial system that has the concepts of riba (interest) and gharar (gambling) forbidden in Quran. Islamic law or Shariah prohibits interest-based transactions, or more precisely, "Riba-based finance". In riba-based finance, the borrower is charged interest, a fixed return or profit, for the use of money that was loaned to him.
Islamic banks are different from other common banks which usually deal with interest. However, they work a little more differently, by using profit-sharing agreements to generate income.
How does it work?
In the lease agreement, the financier buys a property from the landlord on behalf of a client. The financier also rents out the property to the client in return for agreed rental payments with the view of taking legal ownership of the property once they have reached certain rental terms in place – at which point, it is legally considered as their property.
Can I refinance with Islamic loan?
Yes, dfinitely you can. Mat be you have already financed your home with the conventional system. Definitely we'll help you to refinance your home according to Shariah law.
How much deposit do I need?
You need to have at least 10% deposit if the value of your chosen property.
Click the following button to make an appointment with our expert consulatant about Islamic finance.
Click the following button to make an appointment with our expert consulatant about Islamic finance.
